argenx SE (NASDAQ:ARGX) Short Interest Update

argenx SE (NASDAQ:ARGX) was the recipient of a large drop in short interest in October. As of October 15th, there was short interest totalling 1,780,000 shares, a drop of 10.6% from the September 30th total of 1,990,000 shares. Based on an average daily trading volume, of 288,900 shares, the days-to-cover ratio is presently 6.2 days.

Wall Street Analyst Weigh In

A number of brokerages have commented on ARGX. Robert W. Baird increased their target price on argenx from $490.00 to $515.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Wedbush increased their price objective on argenx from $519.00 to $560.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. lifted their target price on shares of argenx from $500.00 to $640.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Truist Financial increased their target price on shares of argenx from $480.00 to $540.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Guggenheim restated a “buy” rating and set a $585.00 price target on shares of argenx in a research report on Thursday, September 26th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, argenx has a consensus rating of “Moderate Buy” and a consensus price target of $550.44.

Institutional Investors Weigh In On argenx

Institutional investors have recently made changes to their positions in the stock. Norden Group LLC purchased a new position in shares of argenx during the 1st quarter worth approximately $1,465,000. First Trust Direct Indexing L.P. grew its stake in shares of argenx by 9.6% in the first quarter. First Trust Direct Indexing L.P. now owns 1,818 shares of the company’s stock valued at $716,000 after buying an additional 159 shares in the last quarter. Legacy Wealth Asset Management LLC grew its stake in shares of argenx by 5.2% in the first quarter. Legacy Wealth Asset Management LLC now owns 1,368 shares of the company’s stock valued at $539,000 after buying an additional 68 shares in the last quarter. New Century Financial Group LLC lifted its stake in argenx by 9.5% during the 1st quarter. New Century Financial Group LLC now owns 610 shares of the company’s stock worth $240,000 after acquiring an additional 53 shares in the last quarter. Finally, Maryland State Retirement & Pension System lifted its stake in argenx by 60.4% during the 1st quarter. Maryland State Retirement & Pension System now owns 3,093 shares of the company’s stock worth $1,121,000 after acquiring an additional 1,165 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

argenx Trading Down 0.2 %

Shares of NASDAQ:ARGX opened at $551.71 on Thursday. The company has a market capitalization of $32.79 billion, a price-to-earnings ratio of -97.48 and a beta of 0.63. argenx has a 12-month low of $327.73 and a 12-month high of $571.97. The business has a 50-day moving average price of $536.03 and a 200 day moving average price of $462.82.

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.