Genmab A/S (NASDAQ:GMAB – Get Rating) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totalling 2,930,000 shares, a decline of 19.7% from the August 15th total of 3,650,000 shares. Based on an average daily trading volume, of 593,600 shares, the days-to-cover ratio is currently 4.9 days.
Institutional Trading of Genmab A/S
Several hedge funds have recently bought and sold shares of GMAB. First Republic Investment Management Inc. raised its stake in shares of Genmab A/S by 22.9% during the 2nd quarter. First Republic Investment Management Inc. now owns 73,746 shares of the company's stock worth $2,396,000 after purchasing an additional 13,758 shares during the period. Captrust Financial Advisors grew its holdings in shares of Genmab A/S by 46.4% during the second quarter. Captrust Financial Advisors now owns 3,892 shares of the company's stock worth $126,000 after purchasing an additional 1,234 shares in the last quarter. International Biotechnology Trust PLC purchased a new position in shares of Genmab A/S during the second quarter worth about $57,000. NewEdge Wealth LLC lifted its position in Genmab A/S by 359.7% in the 2nd quarter. NewEdge Wealth LLC now owns 26,061 shares of the company's stock worth $847,000 after buying an additional 20,392 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Genmab A/S by 12.8% in the 2nd quarter. Wells Fargo & Company MN now owns 674,603 shares of the company's stock worth $21,917,000 after buying an additional 76,552 shares during the last quarter. Institutional investors and hedge funds own 5.51% of the company's stock.
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Analysts Set New Price Targets
GMAB has been the topic of a number of research reports. SVB Leerink lifted their price target on shares of Genmab A/S from $30.00 to $31.00 and gave the company a "market perform" rating in a research note on Thursday, August 11th. BMO Capital Markets assumed coverage on shares of Genmab A/S in a research report on Thursday, June 23rd. They issued a "market perform" rating and a $34.73 price objective on the stock. Morgan Stanley boosted their price objective on shares of Genmab A/S from $29.00 to $31.00 and gave the stock an "underweight" rating in a research report on Monday, August 15th. HC Wainwright boosted their price objective on shares of Genmab A/S from $49.00 to $51.00 and gave the stock a "buy" rating in a research report on Monday, August 22nd. Finally, TheStreet raised shares of Genmab A/S from a "c+" rating to a "b" rating in a research report on Wednesday, August 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $547.62.
Genmab A/S Stock Down 5.5 %
Shares of GMAB stock traded down $2.02 on Monday, reaching $34.44. The company had a trading volume of 10,960 shares, compared to its average volume of 626,944. The stock has a market capitalization of $22.67 billion, a PE ratio of 40.51, a price-to-earnings-growth ratio of 1.36 and a beta of 0.85. Genmab A/S has a one year low of $26.19 and a one year high of $47.28. The business's 50-day moving average is $35.69 and its 200 day moving average is $33.91.
Genmab A/S (NASDAQ:GMAB – Get Rating) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.20. The business had revenue of $452.86 million during the quarter, compared to analyst estimates of $435.40 million. Genmab A/S had a net margin of 38.42% and a return on equity of 17.12%. On average, sell-side analysts forecast that Genmab A/S will post 1.02 earnings per share for the current fiscal year.
Genmab A/S Company Profile
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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; ofatumurnab, a human monoclonal antibody to treat chronic lymphocytic leukemia (CLL) and multiple sclerosis; and Amivantamab for advanced or metastatic gastric or esophageal cancer and NSCLC.
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