argenx SE (NASDAQ:ARGX) Sees Large Increase in Short Interest

argenx SE (NASDAQ:ARGX) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 1,550,000 shares, a growth of 20.2% from the May 31st total of 1,290,000 shares. Based on an average trading volume of 270,000 shares, the days-to-cover ratio is presently 5.7 days.

Analyst Upgrades and Downgrades

ARGX has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on argenx from $478.00 to $542.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. HC Wainwright reissued a “buy” rating and issued a $448.00 price target on shares of argenx in a research note on Monday, June 24th. JPMorgan Chase & Co. reduced their price objective on shares of argenx from $560.00 to $500.00 and set an “overweight” rating for the company in a research report on Monday, May 13th. Wedbush reiterated an “outperform” rating and set a $519.00 target price on shares of argenx in a research report on Wednesday, June 26th. Finally, Truist Financial raised their price target on shares of argenx from $440.00 to $480.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, argenx currently has an average rating of “Moderate Buy” and an average target price of $525.42.

Hedge Funds Weigh In On argenx

Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC lifted its holdings in argenx by 42.9% during the third quarter. Acadian Asset Management LLC now owns 806 shares of the company’s stock worth $396,000 after acquiring an additional 242 shares during the period. Mariner LLC boosted its holdings in shares of argenx by 36.1% in the 3rd quarter. Mariner LLC now owns 2,764 shares of the company’s stock worth $1,359,000 after buying an additional 733 shares during the last quarter. Stifel Financial Corp grew its position in argenx by 9.6% during the third quarter. Stifel Financial Corp now owns 7,730 shares of the company’s stock valued at $3,800,000 after buying an additional 680 shares during the period. Northern Trust Corp increased its holdings in argenx by 41.1% during the third quarter. Northern Trust Corp now owns 39,936 shares of the company’s stock worth $19,634,000 after buying an additional 11,627 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in argenx in the third quarter worth about $223,000. Institutional investors own 60.32% of the company’s stock.

argenx Trading Down 3.3 %

Shares of NASDAQ:ARGX opened at $430.04 on Monday. The stock has a market cap of $25.56 billion, a PE ratio of -75.98 and a beta of 0.65. The stock’s fifty day simple moving average is $382.97 and its two-hundred day simple moving average is $386.15. argenx has a 1-year low of $327.73 and a 1-year high of $550.76.

argenx (NASDAQ:ARGX) last released its quarterly earnings results on Monday, May 13th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.33). argenx had a negative net margin of 22.58% and a negative return on equity of 14.14%. The firm had revenue of $412.51 million for the quarter, compared to the consensus estimate of $404.03 million. During the same period in the previous year, the business earned ($0.52) earnings per share. On average, sell-side analysts forecast that argenx will post -2.88 earnings per share for the current fiscal year.

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.