Genmab A/S (NASDAQ:GMAB) Sees Significant Drop in Short Interest

Genmab A/S (NASDAQ:GMAB) was the target of a significant decline in short interest in November. As of November 30th, there was short interest totalling 2,020,000 shares, a decline of 11.4% from the November 15th total of 2,280,000 shares. Based on an average daily volume of 1,150,000 shares, the short-interest ratio is currently 1.8 days. Approximately 0.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GMAB. Allspring Global Investments Holdings LLC lifted its stake in Genmab A/S by 123.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 3,240 shares of the company’s stock worth $81,000 after acquiring an additional 1,787 shares during the period. Blue Trust Inc. lifted its holdings in shares of Genmab A/S by 892.0% during the third quarter. Blue Trust Inc. now owns 4,315 shares of the company’s stock valued at $108,000 after purchasing an additional 3,880 shares during the last quarter. Headlands Technologies LLC boosted its position in shares of 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 purchasing an additional 4,853 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Genmab A/S by 7.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 7,227 shares of the company’s stock worth $182,000 after buying an additional 478 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC bought a new position in Genmab A/S during the 3rd quarter valued at approximately $192,000. Institutional investors own 7.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GMAB shares. Redburn Atlantic started coverage on shares of Genmab A/S in a research note on Tuesday, October 8th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Genmab A/S in a research note on Tuesday, August 20th. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Genmab A/S in a research note on Wednesday, October 16th. Truist Financial cut their target price on Genmab A/S from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $48.00 price objective (up from $46.00) on shares of Genmab A/S in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.20.

Genmab A/S Price Performance

Shares of GMAB traded up $0.04 during midday trading on Tuesday, hitting $20.06. 730,603 shares of the company traded hands, compared to its average volume of 740,307. The stock has a 50-day moving average of $22.08 and a 200-day moving average of $24.99. The firm has a market cap of $13.28 billion, a P/E ratio of 19.49, a PEG ratio of 0.67 and a beta of 0.96. Genmab A/S has a one year low of $19.85 and a one year high of $32.88.

Genmab A/S (NASDAQ:GMAB) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) 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 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 business posted $0.47 EPS. Sell-side analysts forecast that Genmab A/S will post 1.28 EPS for the current fiscal year.

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.