GMAB) short interest falls 19.7%. –
During the month of August, there was a considerable reduction in the number of short positions held in Genmab A/S (NASDAQ: GMAB). On August 15, there were 3,650,000 shares borrowed; as of August 31, there were only 2,930,000 shares borrowed, which represents a decrease of 19.7% compared to August 15. The current day-to-cover ratio is 4.9 days, which can be determined by the fact that the average daily volume of shares traded is 593,600. This ratio can be found by multiplying the average daily volume by 100.
Genmab A/S (NASDAQ: GMAB) released its latest quarterly earnings report on Wednesday, August 10, and the company has released the results. The firm’s reported quarterly profit came in at $0.41 per share, $0.20 above analysts’ consensus estimate of $0.21. The company’s actual revenue for the quarter was $452.86 million, which was higher than the average forecast of $435.40 million for the company’s revenue in the quarter.
While the company’s overall margin was 38.42%, Genmab A/net S’ return on equity was 17.12%. Analysts forecast Genmab A/S to report earnings of $1.02 per share for the current fiscal year, according to forecasts. This is the company’s profit forecast for the current fiscal year. GMAB started trading on Friday with a price of $36.46. This day also marked the start of the trading week. The stock’s current price of $35.65 puts it above its 50-day simple moving average of $33.88 and its 200-day simple moving average of $33.88. also sets at $33.88. Over the past 52 weeks, the price of Genmab A/52 weeks S has fluctuated a lot, ranging from $26.19 to $47.28. The company has a market capitalization of $23.99 billion, a price-to-earnings ratio of 40.51, a growth price-to-earnings ratio of 1.36 and a beta coefficient of 0.85. These metrics indicate that the stock is somewhat expensive relative to its earnings. As a result, institutional investors and hedge funds have recently changed the way they hold their positions in the company in response to recent developments.
American Century Companies, Inc. increased its holdings in Genmab A/S by 956.7 in the first three months of 2018. American Century Companies Inc. now owns 420,839 shares of the company after purchasing an additional 381,013 shares during of the quarter. These shares have a combined value of $15,226,000 as the company owns 420,839 of them. holdings in Genmab A/S. After purchasing an additional 338,902 shares throughout the transaction, Arrowstreet Capital Limited Partnership now owns 869,221 shares of the company, which equates to a total value of $31,448,000. These shares were acquired throughout the transaction. Through the purchase of additional shares, international investors increased their stake in Genmab A/S by 7.7% in the first three months of the year. Capital International Investors now owns a total of 3,952,446 shares of the company, which are worth $145,433,000 following the acquisition of 283,031 additional shares in the last quarter of the fiscal year.
During the first three months of the year, Wellington Management Group LLP increased its stake in Genmab A/S by 5.8 percentage points. Following the acquisition of an additional 183,578 shares during the last quarter, Wellington Management Group LLP now holds 3,333,824 shares. The value of the shares held by Wellington Management Group LLP is $120,618,000. In the last quarter of 2018, Renaissance Technologies LLC increased the number of Genmab A/S shares held to 19.5%. It was the highlight of the year. After acquiring an additional 175,600 shares in the last quarter, Renaissance Technologies LLC now owns 1,074,400 shares of the company. The value of Renaissance Technologies LLC’s stock holdings is $42,503,000. Hedge funds and other types of institutional investors hold 5.51% of the company’s total outstanding shares.
Several equity experts have weighed their opinions regarding GMAB shares.
In a research report regarding Genmab A/S which was published on Thursday, August 11, SVB Leerink called the company “market performance” and raised its price target for the company from $30.00 to $31.00. $.
These changes were made in response to the announcement that Genmab A/S had received regulatory approval to begin human clinical trials. In research published on August 22, HC Wainwright raised its recommendation for Genmab A/S from a “buy” rating to a “strong buy” rating and raised its price target from $49.00 to $51.00. in his research. Additionally, Genmab A/rating S’s received an upgrade from a “c+” to a “b” rating from TheStreet in a research note published on August 31. Finally, BMO Capital Markets sent the report on Genmab A/S inaugural coverage on June 23. The report was part of the company’s regular business coverage. They provided the company with a “market performance” rating and came to the conclusion that the stock should reach a price target of $34.73 at some point.
Finally, Morgan Stanley raised its price target for Genmab A/S from $29.00 to $31.00 and changed its rating from “underweight” to “equal weight” in a research report published on Monday 15 august. Eight analysts now recommend investors hold their position; seven recommend investors to maintain their current position and one recommends investors to sell their current investment.
According to information from Bloomberg, the stock has been given an average rating of “Hold” and analysts have expected it to hit a price of $547.62 soon.
Genmab A/S is a Denmark-based company that specializes in the production of antibody treatments for the treatment of various diseases, including cancer. For example, DARZALEX is a human monoclonal antibody used to treat multiple myeloma (MM); teprotumumab is used to treat thyroid eye disease; ofatumurnab is used to treat CLL and MS, and amivantamab is used to treat advanced or metastatic gastric or esophageal cancer in addition to non-small cell lung cancer (NSCLC).