Genmab A/S (NASDAQ:GMAB) Sees Large Decrease in Short Interest

Genmab A/S (NASDAQ:GMAB) was the recipient of a large 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 days-to-cover ratio is currently 1.8 days. Approximately 0.3% of the shares of the company are short sold.

Hedge Funds Weigh In On Genmab A/S

Several hedge funds have recently added to or reduced their stakes in the company. DDD Partners LLC purchased a new position in shares of Genmab A/S in the second quarter worth about $8,860,000. Two Sigma Advisers LP grew its stake in shares of Genmab A/S by 84.1% during the 3rd quarter. Two Sigma Advisers LP now owns 615,100 shares of the company’s stock worth $14,996,000 after purchasing an additional 280,900 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of Genmab A/S by 109.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 278,541 shares of the company’s stock worth $7,000,000 after buying an additional 145,689 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Genmab A/S by 7.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,462,459 shares of the company’s stock worth $36,752,000 after purchasing an additional 103,859 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Genmab A/S in the second quarter valued at approximately $1,354,000. 7.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GMAB has been the topic of a number of recent research reports. Redburn Atlantic initiated coverage on shares of Genmab A/S in a research note on Tuesday, October 8th. They set a “buy” rating on the stock. HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of Genmab A/S in a research report on Wednesday, October 16th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Genmab A/S in a research note on Tuesday, August 20th. 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. Finally, Truist Financial cut their target price 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. One equities 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 has an average rating of “Moderate Buy” and a consensus target price of $45.20.

Genmab A/S Trading Up 0.0 %

NASDAQ GMAB traded up $0.01 during trading hours on Tuesday, hitting $20.03. The company’s stock had a trading volume of 1,075,716 shares, compared to its average volume of 741,872. Genmab A/S has a 52 week low of $19.85 and a 52 week high of $32.88. The company’s 50-day simple moving average is $22.08 and its two-hundred day simple moving average is $24.99. The company has a market capitalization of $13.26 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 0.67 and a beta of 0.96.

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 company had revenue of $816.10 million during the quarter, compared to analysts’ expectations 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 quarter last year, the business earned $0.47 earnings per share. Research analysts anticipate that Genmab A/S will post 1.28 EPS 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.