Genmab A/S (NASDAQ:GMAB) Sees Large Increase in Short Interest

Genmab A/S (NASDAQ:GMAB) saw a significant increase in short interest during the month of 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. Currently, 0.4% of the company’s shares are sold short. Based on an average trading volume of 874,600 shares, the days-to-cover ratio is presently 2.7 days.

Genmab A/S Trading Down 2.8 %

Shares of NASDAQ:GMAB traded down $0.59 during trading on Friday, hitting $20.59. 1,310,575 shares of the stock were exchanged, compared to its average volume of 1,554,565. Genmab A/S has a 12-month low of $20.50 and a 12-month high of $32.89. The company has a market cap of $13.63 billion, a PE ratio of 19.99, a P/E/G ratio of 0.64 and a beta of 0.99. The company has a fifty day moving average price of $23.81 and a two-hundred day moving average price of $26.18.

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Genmab A/S

Several institutional investors and hedge funds have recently modified their holdings of GMAB. DDD Partners LLC acquired a new position in shares of Genmab A/S in the 2nd quarter valued at approximately $8,860,000. Capital International Investors increased its stake in shares of Genmab A/S by 7.8% in the first quarter. Capital International Investors now owns 4,373,277 shares of the company’s stock worth $130,805,000 after buying an additional 315,355 shares during the last quarter. Two Sigma Advisers LP raised its holdings in Genmab A/S by 84.1% in the third quarter. Two Sigma Advisers LP now owns 615,100 shares of the company’s stock valued at $14,996,000 after acquiring an additional 280,900 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in Genmab A/S by 109.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 278,541 shares of the company’s stock valued at $7,000,000 after acquiring an additional 145,689 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Genmab A/S by 7.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,462,459 shares of the company’s stock worth $36,752,000 after acquiring an additional 103,859 shares in the last quarter. Hedge funds and other institutional investors own 7.07% of the company’s stock.

About Genmab A/S

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.