Genmab A/S (NASDAQ:GMAB) Short Interest Up 23.2% in October

Genmab A/S (NASDAQ:GMAB) was the target of 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 shares of the stock are sold short. Based on an average trading volume of 874,600 shares, the days-to-cover ratio is currently 2.7 days.

Genmab A/S Price Performance

Genmab A/S stock traded down $0.59 during midday trading on Friday, reaching $20.59. 1,310,575 shares of the company traded hands, 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 business has a 50 day moving average of $23.81 and a two-hundred day moving average of $26.18. The firm has a market capitalization of $13.63 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 0.64 and a beta of 0.99.

Genmab A/S (NASDAQ:GMAB) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). The firm had revenue of $816.10 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $0.47 EPS. As a group, equities analysts forecast that Genmab A/S will post 1.28 EPS for the current year.

Analyst Ratings Changes

GMAB has been the subject of several analyst reports. JPMorgan Chase & Co. restated a “neutral” rating on shares of Genmab A/S in a report on Tuesday, August 20th. Morgan Stanley reissued an “equal weight” rating and set a $31.00 price objective on shares of Genmab A/S in a research report on Wednesday, September 11th. Truist Financial reduced their price objective on Genmab A/S from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Redburn Atlantic assumed coverage on Genmab A/S in a report on Tuesday, October 8th. They set a “buy” rating for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $50.00 price target on shares of Genmab A/S in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Genmab A/S has an average rating of “Moderate Buy” and a consensus target price of $45.20.

Institutional Trading of Genmab A/S

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its position in shares of Genmab A/S by 137.7% during the 1st quarter. Russell Investments Group Ltd. now owns 939 shares of the company’s stock valued at $28,000 after buying an additional 544 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Genmab A/S during the 1st quarter valued at $43,000. Blue Trust Inc. lifted its stake in shares of Genmab A/S by 892.0% during the 3rd quarter. Blue Trust Inc. now owns 4,315 shares of the company’s stock valued at $108,000 after buying an additional 3,880 shares in the last quarter. Headlands Technologies LLC boosted its holdings in Genmab A/S by 1,702.8% in the 2nd quarter. Headlands Technologies LLC now owns 5,138 shares of the company’s stock worth $129,000 after buying an additional 4,853 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Genmab A/S by 7.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 7,227 shares of the company’s stock worth $182,000 after acquiring an additional 478 shares during the period. 7.07% of the stock is owned by hedge funds and other institutional investors.

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.