Short Interest in argenx SE (NASDAQ:ARGX) Rises By 21.8%

argenx SE (NASDAQ:ARGX) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 2,070,000 shares, a growth of 21.8% from the October 31st total of 1,700,000 shares. Based on an average daily volume of 271,000 shares, the short-interest ratio is currently 7.6 days.

argenx Trading Down 0.2 %

Shares of NASDAQ:ARGX traded down $1.22 during trading on Monday, hitting $615.33. 39,656 shares of the company’s stock were exchanged, compared to its average volume of 309,286. argenx has a 1-year low of $327.73 and a 1-year high of $620.28. The firm has a market cap of $37.15 billion, a P/E ratio of -700.63 and a beta of 0.61. The firm has a 50-day moving average price of $565.73 and a two-hundred day moving average price of $498.07.

argenx (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The company had revenue of $588.88 million for the quarter, compared to the consensus estimate of $543.29 million. During the same quarter in the prior year, the business posted ($1.25) EPS. As a group, research analysts predict that argenx will post 2.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on ARGX. Citigroup raised their price objective on argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Robert W. Baird lowered shares of argenx from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $515.00 to $650.00 in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on shares of argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Piper Sandler raised their price target on argenx from $553.00 to $620.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, HC Wainwright reiterated a “buy” rating and set a $617.00 price target on shares of argenx in a report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $630.42.

Hedge Funds Weigh In On argenx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARGX. Wilmington Savings Fund Society FSB bought a new position in shares of argenx during the 3rd quarter valued at about $652,000. Sanctuary Advisors LLC lifted its position in shares of argenx by 17.5% in the third quarter. Sanctuary Advisors LLC now owns 2,064 shares of the company’s stock worth $1,119,000 after purchasing an additional 308 shares in the last quarter. M&T Bank Corp boosted its holdings in argenx by 7.2% during the third quarter. M&T Bank Corp now owns 4,307 shares of the company’s stock worth $2,335,000 after purchasing an additional 289 shares during the last quarter. MML Investors Services LLC grew its position in argenx by 16.9% in the third quarter. MML Investors Services LLC now owns 8,699 shares of the company’s stock valued at $4,715,000 after purchasing an additional 1,255 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its position in argenx by 2.7% in the third quarter. Orion Portfolio Solutions LLC now owns 8,800 shares of the company’s stock valued at $4,768,000 after purchasing an additional 234 shares in the last quarter. Institutional investors own 60.32% of the company’s stock.

argenx Company Profile

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren’s syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.