Genmab A/S (NASDAQ:GMAB) Short Interest Down 26.7% in August

Genmab A/S (NASDAQ:GMAB) was the recipient of a large decrease in short interest during the month of August. As of August 15th, there was short interest totalling 2,170,000 shares, a decrease of 26.7% from the July 31st total of 2,960,000 shares. Based on an average daily volume of 603,200 shares, the short-interest ratio is currently 3.6 days. Currently, 0.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GMAB. Point72 Asset Management L.P. acquired a new position in Genmab A/S in the second quarter valued at about $457,000. Cubist Systematic Strategies LLC raised its stake 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 valued at $7,000,000 after acquiring an additional 145,689 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings 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 during the last quarter. Renaissance Technologies LLC boosted its position 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 period. Finally, Oppenheimer Asset Management Inc. increased its holdings in Genmab A/S by 26.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 218,078 shares of the company’s stock valued at $5,480,000 after purchasing an additional 45,376 shares during the last quarter. 7.07% of the stock is currently owned by institutional investors and hedge funds.

Genmab A/S Stock Up 0.4 %

NASDAQ GMAB opened at $27.81 on Friday. The business’s fifty day simple moving average is $26.78 and its 200-day simple moving average is $28.15. The firm has a market cap of $18.39 billion, a PE ratio of 23.18, a P/E/G ratio of 1.01 and a beta of 0.97. Genmab A/S has a 52 week low of $24.53 and a 52 week high of $39.53.

Genmab A/S (NASDAQ:GMAB) last posted its earnings results on Thursday, August 8th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.07). Genmab A/S had a net margin of 30.74% and a return on equity of 18.90%. The firm had revenue of $779.50 million during the quarter, compared to analyst estimates of $734.60 million. Research analysts expect that Genmab A/S will post 1.13 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GMAB shares. JPMorgan Chase & Co. restated a “neutral” rating on shares of Genmab A/S in a research report on Tuesday, August 20th. Royal Bank of Canada upgraded Genmab A/S from a “sector perform” rating to an “outperform” rating in a report on Monday, July 15th. Truist Financial upped their target price on shares of Genmab A/S from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Genmab A/S in a research note on Tuesday. Finally, BTIG Research boosted their price target on shares of Genmab A/S from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $49.50.

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.