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

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

Genmab A/S Price Performance

GMAB traded down $0.14 during trading on Wednesday, reaching $20.13. 1,292,692 shares of the stock were exchanged, compared to its average volume of 1,046,788. Genmab A/S has a 1 year low of $17.24 and a 1 year high of $30.41. The company has a market capitalization of $13.32 billion, a price-to-earnings ratio of 11.57, a P/E/G ratio of 2.65 and a beta of 1.07. The business's 50 day moving average price is $20.51 and its two-hundred day moving average price is $21.10.

Genmab A/S (NASDAQ:GMAB - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.29. Genmab A/S had a net margin of 36.30% and a return on equity of 16.78%. On average, analysts anticipate that Genmab A/S will post 1.45 EPS for the current year.

Analysts Set New Price Targets

GMAB has been the subject of several analyst reports. Leerink Partnrs raised Genmab A/S from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Truist Financial dropped their price objective on shares of Genmab A/S from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, March 11th. Sanford C. Bernstein downgraded shares of Genmab A/S from a "market perform" rating to an "underperform" rating in a research report on Tuesday, April 1st. HC Wainwright reaffirmed a "buy" rating and issued a $37.00 target price (down previously from $50.00) on shares of Genmab A/S in a report on Wednesday, April 9th. Finally, Leerink Partners raised shares of Genmab A/S from a "market perform" rating to an "outperform" rating and set a $27.00 price target for the company in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $39.17.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GMAB. Charles Schwab Investment Management Inc. boosted its holdings in shares of Genmab A/S by 94.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 26,104 shares of the company's stock worth $636,000 after purchasing an additional 12,654 shares during the last quarter. HighTower Advisors LLC acquired a new stake in Genmab A/S in the 3rd quarter worth about $273,000. GAMMA Investing LLC grew 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 valued at $45,000 after buying an additional 1,051 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of Genmab A/S by 8.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 41,622 shares of the company's stock valued at $868,000 after acquiring an additional 3,377 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Genmab A/S by 82.7% during the 4th quarter. SG Americas Securities LLC now owns 26,396 shares of the company's stock worth $551,000 after acquiring an additional 11,949 shares during the period. Institutional investors and hedge funds own 7.07% of the company's stock.

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.