Genmab A/S (NASDAQ:GMAB) Short Interest Up 8.7% in September

Genmab A/S (NASDAQ:GMAB) was the target of a significant growth in short interest in the month of 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. Based on an average trading volume of 626,600 shares, the days-to-cover ratio is presently 3.6 days. Currently, 0.4% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Royal Bank of Canada raised Genmab A/S from a “sector perform” rating to an “outperform” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Genmab A/S in a report on Tuesday, August 20th. HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective on shares of Genmab A/S in a report on Wednesday. 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. Finally, Redburn Atlantic initiated coverage on Genmab A/S in a report on Tuesday, October 8th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, two have issued 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 a consensus price target of $45.20.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its position in shares of Genmab A/S by 5.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 165,187 shares of the company’s stock valued at $5,260,000 after buying an additional 8,463 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Genmab A/S by 194.0% in the first quarter. GAMMA Investing LLC now owns 1,135 shares of the company’s stock valued at $34,000 after buying an additional 749 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Genmab A/S in the first quarter valued at approximately $43,000. Legacy Wealth Asset Management LLC lifted its position in shares of Genmab A/S by 4.6% in the first quarter. Legacy Wealth Asset Management LLC now owns 36,703 shares of the company’s stock valued at $1,098,000 after buying an additional 1,611 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Genmab A/S by 65.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 8,024 shares of the company’s stock valued at $240,000 after buying an additional 3,179 shares during the last quarter. 7.07% of the stock is owned by institutional investors and hedge funds.

Genmab A/S Stock Performance

NASDAQ GMAB traded up $0.36 during trading hours on Thursday, hitting $22.96. 988,675 shares of the company traded hands, compared to its average volume of 614,271. The business’s 50-day moving average is $25.89 and its 200-day moving average is $27.18. Genmab A/S has a twelve month low of $22.52 and a twelve month high of $32.89. The stock has a market capitalization of $15.18 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 0.71 and a beta of 0.98.

Genmab A/S (NASDAQ:GMAB) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.07). Genmab A/S had a net margin of 29.06% and a return on equity of 17.48%. The company had revenue of $779.50 million for the quarter, compared to analyst estimates of $734.60 million. Analysts predict that Genmab A/S will post 1.27 EPS for the current 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.