Short Interest in Genmab A/S (NASDAQ:GMAB) Drops By 29.7%

Genmab A/S (NASDAQ:GMAB) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 2,150,000 shares, a drop of 29.7% from the March 15th total of 3,060,000 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 1,590,000 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Trading of Genmab A/S

Institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Genmab A/S by 295.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock valued at $26,000 after acquiring an additional 939 shares in the last quarter. Lindbrook Capital LLC grew its position in Genmab A/S by 105.4% during the fourth quarter. Lindbrook Capital LLC now owns 1,851 shares of the company’s stock valued at $39,000 after buying an additional 950 shares during the period. GAMMA Investing LLC raised its holdings in Genmab A/S by 96.6% in the 4th quarter. GAMMA Investing LLC now owns 2,139 shares of the company’s stock worth $45,000 after purchasing an additional 1,051 shares during the period. Barclays PLC lifted its position in shares of Genmab A/S by 1,072.8% during the 4th quarter. Barclays PLC now owns 2,498 shares of the company’s stock valued at $52,000 after buying an additional 2,285 shares in the last quarter. Finally, Cromwell Holdings LLC grew its stake in shares of Genmab A/S by 656.8% during the 4th quarter. Cromwell Holdings LLC now owns 2,876 shares of the company’s stock valued at $60,000 after acquiring an additional 2,496 shares during the period. 7.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GMAB. HC Wainwright reissued a “buy” rating and issued a $37.00 price target (down from $50.00) on shares of Genmab A/S in a report on Wednesday, April 9th. Leerink Partners upgraded Genmab A/S from a “market perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a research report on Thursday, February 13th. Sanford C. Bernstein cut shares of Genmab A/S from a “market perform” rating to an “underperform” rating in a research note on Tuesday, April 1st. William Blair upgraded Genmab A/S from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 11th. Finally, Truist Financial dropped their target price on Genmab A/S from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.17.

Genmab A/S Price Performance

GMAB traded up $0.49 during midday trading on Friday, reaching $20.04. 1,135,288 shares of the company’s stock traded hands, compared to its average volume of 1,032,494. Genmab A/S has a 52 week low of $17.24 and a 52 week high of $30.41. The firm has a fifty day moving average of $20.52 and a two-hundred day moving average of $21.20. The stock has a market capitalization of $13.26 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 2.65 and a beta of 1.07.

Genmab A/S (NASDAQ:GMAB) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.29. Genmab A/S had a net margin of 36.30% and a return on equity of 16.78%. Sell-side analysts forecast that Genmab A/S will post 1.45 EPS for the current year.

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.