Short Interest in Genmab A/S (NASDAQ:GMAB) Grows By 9.6%

Genmab A/S (NASDAQ:GMAB) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 2,630,000 shares, an increase of 9.6% from the March 31st total of 2,400,000 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily volume of 575,800 shares, the short-interest ratio is presently 4.6 days.

Genmab A/S Stock Down 2.3 %

GMAB stock opened at $27.92 on Tuesday. The company’s 50-day moving average price is $29.44 and its two-hundred day moving average price is $29.97. Genmab A/S has a 12 month low of $26.32 and a 12 month high of $42.72. The firm has a market cap of $18.46 billion, a P/E ratio of 29.76, a P/E/G ratio of 2.02 and a beta of 0.98.

Genmab A/S (NASDAQ:GMAB) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. Genmab A/S had a net margin of 26.50% and a return on equity of 18.06%. The business had revenue of $675.29 million during the quarter, compared to the consensus estimate of $678.14 million. Equities analysts predict that Genmab A/S will post 1.06 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. BMO Capital Markets raised Genmab A/S from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $46.00 to $48.00 in a research report on Friday, February 23rd. Citigroup downgraded Genmab A/S from a “neutral” rating to a “sell” rating in a report on Monday, January 22nd. Truist Financial reiterated a “buy” rating and set a $50.00 target price on shares of Genmab A/S in a research note on Tuesday, March 26th. Morgan Stanley restated an “underweight” rating on shares of Genmab A/S in a research note on Tuesday, March 26th. Finally, HC Wainwright reiterated a “buy” rating and set a $50.00 price objective on shares of Genmab A/S in a research report on Tuesday. 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $48.50.

Institutional Investors Weigh In On Genmab A/S

Hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Genmab A/S during the 1st quarter valued at $43,000. China Universal Asset Management Co. Ltd. raised its position in 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 purchasing an additional 3,179 shares during the last quarter. Simplicity Wealth LLC acquired a new stake in shares of Genmab A/S during the first quarter valued at about $904,000. Legacy Wealth Asset Management LLC increased its stake 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 period. Finally, GAMMA Investing LLC raised its holdings in Genmab A/S by 194.0% in the 1st 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. 7.07% of the stock is currently owned by institutional investors and hedge funds.

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.