Genmab A/S (NASDAQ:GMAB) Short Interest Down 11.4% in November

Genmab A/S (NASDAQ:GMAB) was the recipient of a significant decline in short interest in the month of 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 days-to-cover ratio is currently 1.8 days. Currently, 0.3% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GMAB. Legacy Wealth Asset Management LLC boosted its holdings in Genmab A/S by 1.1% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 44,979 shares of the company’s stock valued at $1,097,000 after purchasing an additional 471 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in Genmab A/S by 7.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 7,227 shares of the company’s stock valued at $182,000 after buying an additional 478 shares during the last quarter. Eagle Asset Management Inc. boosted its position in shares of Genmab A/S by 10.0% during the third quarter. Eagle Asset Management Inc. now owns 12,356 shares of the company’s stock worth $285,000 after acquiring an additional 1,121 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Genmab A/S by 7.1% during the second quarter. Rhumbline Advisers now owns 18,694 shares of the company’s stock worth $470,000 after acquiring an additional 1,236 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Genmab A/S by 43.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,653 shares of the company’s stock valued at $113,000 after acquiring an additional 1,413 shares during the period. 7.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of Genmab A/S in a research note on Wednesday, October 16th. Redburn Atlantic assumed coverage on shares of Genmab A/S in a report on Tuesday, October 8th. They issued a “buy” rating for the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $31.00 target price on shares of Genmab A/S in a research report on Wednesday, September 11th. BMO Capital Markets reissued an “outperform” rating and set a $48.00 price target (up previously from $46.00) on shares of Genmab A/S in a research report on Friday, November 8th. Finally, Truist Financial lowered their price target on Genmab A/S from $53.00 to $50.00 and set a “buy” rating for the company in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Genmab A/S presently has a consensus rating of “Moderate Buy” and an average target price of $45.20.

Genmab A/S Stock Up 0.0 %

Shares of NASDAQ:GMAB traded up $0.01 on Tuesday, reaching $20.03. The company had a trading volume of 1,075,716 shares, compared to its average volume of 741,872. The stock has a 50-day moving average price of $22.08 and a 200 day moving average price of $24.99. The stock has a market capitalization of $13.26 billion, a P/E ratio of 19.49, a P/E/G ratio of 0.67 and a beta of 0.96. Genmab A/S has a twelve month low of $19.85 and a twelve month high of $32.88.

Genmab A/S (NASDAQ:GMAB) last announced its earnings results on Wednesday, November 6th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). The business had revenue of $816.10 million during the quarter, compared to analyst estimates 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 earnings per share. On average, sell-side analysts predict that Genmab A/S will post 1.28 earnings per share for the current fiscal year.

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.