argenx SE (NASDAQ:ARGX) Short Interest Update

argenx SE (NASDAQ:ARGX) was the target of a large growth in short interest during 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.

Hedge Funds Weigh In On argenx

A number of institutional investors have recently made changes to their positions in ARGX. FMR LLC grew its stake in argenx by 35.9% during the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock worth $2,598,445,000 after buying an additional 1,265,486 shares during the period. Fiera Capital Corp increased its stake in argenx by 2.2% during the second quarter. Fiera Capital Corp now owns 165,595 shares of the company’s stock valued at $71,212,000 after purchasing an additional 3,506 shares during the last quarter. Cetera Advisors LLC acquired a new stake in shares of argenx during the first quarter worth $419,000. Simplify Asset Management Inc. lifted its holdings in shares of argenx by 64.0% in the 3rd quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock worth $1,311,000 after purchasing an additional 944 shares during the last quarter. Finally, Perpetual Ltd bought a new position in shares of argenx during the third quarter worth about $76,314,000. 60.32% of the stock is owned by institutional investors and hedge funds.

argenx Price Performance

Shares of NASDAQ ARGX traded down $1.22 during mid-day trading on Monday, hitting $615.33. The company had a trading volume of 39,656 shares, 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 company has a market capitalization of $37.15 billion, a PE ratio of -700.63 and a beta of 0.61. The business’s 50-day simple moving average is $565.73 and its 200 day simple moving average is $498.07.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Baird R W lowered argenx from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Barclays upgraded argenx from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 6th. Raymond James reiterated a “strong-buy” rating and set a $605.00 target price on shares of argenx in a research report on Thursday, October 10th. Guggenheim upped their price objective on argenx from $585.00 to $665.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lowered shares of argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $630.42.

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.