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

Genmab A/S (NASDAQ:GMAB) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 2,260,000 shares, a growth of 8.7% from the September 15th total of 2,080,000 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average trading volume of 626,600 shares, the short-interest ratio is currently 3.6 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. increased its position in shares of Genmab A/S by 137.7% during the first quarter. Russell Investments Group Ltd. now owns 939 shares of the company’s stock worth $28,000 after buying an additional 544 shares during the period. GAMMA Investing LLC boosted its position in Genmab A/S by 194.0% during the first quarter. GAMMA Investing LLC now owns 1,135 shares of the company’s stock valued at $34,000 after acquiring an additional 749 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Genmab A/S during the 1st quarter worth about $43,000. Headlands Technologies LLC raised 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 acquiring an additional 4,853 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position 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 acquiring an additional 478 shares in the last quarter. Institutional investors and hedge funds own 7.07% of the company’s stock.

Genmab A/S Stock Down 2.5 %

GMAB traded down $0.58 during midday trading on Wednesday, hitting $22.60. 1,330,715 shares of the company were exchanged, compared to its average volume of 612,399. The firm’s 50 day moving average price is $25.89 and its 200-day moving average price is $27.18. Genmab A/S has a 1-year low of $22.52 and a 1-year high of $33.45. The firm has a market capitalization of $14.95 billion, a P/E ratio of 18.83, a P/E/G ratio of 0.71 and a beta of 0.98.

Genmab A/S (NASDAQ:GMAB) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.07). Genmab A/S had a return on equity of 17.48% and a net margin of 29.06%. The company had revenue of $779.50 million during the quarter, compared to analyst estimates of $734.60 million. On average, sell-side analysts predict that Genmab A/S will post 1.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Royal Bank of Canada upgraded shares of Genmab A/S from a “sector perform” rating to an “outperform” rating in a research report on Monday, July 15th. Truist Financial decreased their price target on 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. Redburn Atlantic started coverage on shares of Genmab A/S in a research note on Tuesday, October 8th. They issued a “buy” rating for the company. BTIG Research upped their price target on shares of Genmab A/S from $46.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of Genmab A/S in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.