Short Interest in Genmab A/S (NASDAQ:GMAB) Expands By 23.2%

Genmab A/S (NASDAQ:GMAB) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 2,340,000 shares, an increase of 23.2% from the October 15th total of 1,900,000 shares. Based on an average daily trading volume, of 874,600 shares, the days-to-cover ratio is presently 2.7 days. Currently, 0.4% of the shares of the company are short sold.

Genmab A/S Stock Performance

Shares of NASDAQ GMAB traded down $0.59 during mid-day trading on Friday, hitting $20.59. The stock had a trading volume of 1,310,575 shares, compared to its average volume of 1,554,565. The business has a 50 day moving average price of $23.81 and a two-hundred day moving average price of $26.18. The firm has a market cap of $13.63 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 0.64 and a beta of 0.99. Genmab A/S has a 1 year low of $20.50 and a 1 year high of $32.89.

Genmab A/S (NASDAQ:GMAB) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.03). The company had revenue of $816.10 million during the quarter, compared to the consensus estimate of $838.20 million. Genmab A/S had a net margin of 23.49% and a return on equity of 14.64%. During the same quarter last year, the firm earned $0.47 EPS. Equities research analysts predict that Genmab A/S will post 1.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Genmab A/S

A number of large investors have recently modified their holdings of GMAB. SG Americas Securities LLC lifted its holdings in Genmab A/S by 360.5% in the first quarter. SG Americas Securities LLC now owns 29,500 shares of the company’s stock worth $882,000 after buying an additional 23,094 shares during the period. Capital International Investors lifted its stake in shares of Genmab A/S by 7.8% in the 1st quarter. Capital International Investors now owns 4,373,277 shares of the company’s stock valued at $130,805,000 after purchasing an additional 315,355 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Genmab A/S by 26.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 218,078 shares of the company’s stock valued at $5,480,000 after purchasing an additional 45,376 shares in the last quarter. Choreo LLC purchased a new stake in Genmab A/S in the second quarter worth $776,000. Finally, Renaissance Technologies LLC grew its stake in Genmab A/S by 7.6% in the second quarter. Renaissance Technologies LLC now owns 1,462,459 shares of the company’s stock worth $36,752,000 after purchasing an additional 103,859 shares during the period. Institutional investors own 7.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on GMAB shares. Morgan Stanley reissued an “equal weight” rating and set a $31.00 target price on shares of Genmab A/S in a research report on Wednesday, September 11th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Genmab A/S in a research report on Tuesday, August 20th. Redburn Atlantic began coverage on Genmab A/S in a research note on Tuesday, October 8th. They set a “buy” rating for the company. BMO Capital Markets reissued an “outperform” rating and issued a $48.00 price target (up previously from $46.00) on shares of Genmab A/S in a research note on Friday, November 8th. Finally, Truist Financial reduced their price objective on Genmab A/S from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.20.

Genmab A/S Company Profile

Genmab A/S develops antibody therapeutics for the treatment of cancer and other diseases primarily in Denmark. The company markets DARZALEX, a human monoclonal antibody for the treatment of patients with multiple myeloma (MM); teprotumumab for the treatment of thyroid eye disease; and Amivantamab for advanced or metastatic gastric or esophageal cancer and NSCLC.