argenx SE (NASDAQ:ARGX) Sees Significant Growth in Short Interest

argenx SE (NASDAQ:ARGX) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 2,040,000 shares, an increase of 20.0% from the August 31st total of 1,700,000 shares. Based on an average daily volume of 349,400 shares, the days-to-cover ratio is presently 5.8 days.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wedbush increased their price objective on shares of argenx from $519.00 to $560.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Barclays upgraded argenx from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 6th. Truist Financial upped their price objective on argenx from $480.00 to $540.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Robert W. Baird lifted their target price on argenx from $490.00 to $515.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Finally, Oppenheimer raised shares of argenx from a “market perform” rating to an “outperform” rating and set a $546.00 price target for the company in a research report on Tuesday, July 23rd. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, argenx currently has a consensus rating of “Moderate Buy” and an average price target of $547.74.

argenx Price Performance

Shares of ARGX stock opened at $536.11 on Monday. The business has a fifty day moving average of $519.04 and a 200 day moving average of $438.18. argenx has a 1 year low of $327.73 and a 1 year high of $554.74. The firm has a market capitalization of $31.86 billion, a price-to-earnings ratio of -94.72 and a beta of 0.62.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $1.34. The firm had revenue of $489.43 million during the quarter, compared to analysts’ expectations of $436.66 million. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. During the same period last year, the business posted ($1.69) earnings per share. As a group, equities research analysts expect that argenx will post -0.37 earnings per share for the current year.

Institutional Trading of argenx

Several institutional investors and hedge funds have recently bought and sold shares of ARGX. J.Safra Asset Management Corp raised its holdings in shares of argenx by 590.0% during the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock worth $30,000 after purchasing an additional 59 shares during the last quarter. Blue Trust Inc. grew its position in argenx by 620.0% during the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after purchasing an additional 62 shares during the period. GAMMA Investing LLC grew its position in argenx by 420.0% during the 1st quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock worth $31,000 after purchasing an additional 63 shares during the period. Mather Group LLC. purchased a new position in shares of argenx during the 1st quarter valued at about $38,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of argenx in the 2nd quarter valued at about $76,000. 60.32% of the stock is currently owned by institutional investors and hedge funds.

About argenx

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.