argenx SE (NASDAQ:ARGX) Short Interest Up 20.0% in September

argenx SE (NASDAQ:ARGX) was the recipient of a large increase in short interest during the month of 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 trading volume, of 349,400 shares, the days-to-cover ratio is currently 5.8 days.

Analyst Ratings Changes

A number of analysts recently commented on ARGX shares. Deutsche Bank Aktiengesellschaft upgraded argenx from a “hold” rating to a “buy” rating in a research report on Thursday, July 25th. HC Wainwright boosted their price objective on shares of argenx from $504.00 to $533.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Barclays upgraded shares of argenx from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, August 6th. Bank of America reiterated a “buy” rating and issued a $607.00 price target (up from $535.00) on shares of argenx in a report on Monday, June 24th. Finally, Piper Sandler raised their price objective on argenx from $522.00 to $535.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, argenx currently has an average rating of “Moderate Buy” and a consensus price target of $547.74.

Hedge Funds Weigh In On argenx

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Profund Advisors LLC raised its stake in shares of argenx by 3.0% during the second quarter. Profund Advisors LLC now owns 973 shares of the company’s stock valued at $418,000 after purchasing an additional 28 shares during the period. Wealth Alliance increased its stake in argenx by 4.8% during the 2nd quarter. Wealth Alliance now owns 628 shares of the company’s stock worth $270,000 after buying an additional 29 shares during the period. Lindbrook Capital LLC lifted its holdings in argenx by 23.1% in the 1st quarter. Lindbrook Capital LLC now owns 197 shares of the company’s stock worth $78,000 after buying an additional 37 shares in the last quarter. Wahed Invest LLC boosted its position in argenx by 9.6% in the 4th quarter. Wahed Invest LLC now owns 457 shares of the company’s stock valued at $174,000 after buying an additional 40 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of argenx by 51.3% during the second quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock valued at $51,000 after acquiring an additional 40 shares in the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

argenx Stock Performance

Shares of NASDAQ:ARGX traded up $11.53 during midday trading on Friday, hitting $536.11. 138,446 shares of the company’s stock traded hands, compared to its average volume of 320,076. The firm’s fifty day moving average price is $519.04 and its two-hundred day moving average price is $437.43. argenx has a twelve month low of $327.73 and a twelve month high of $554.74. The company has a market cap of $31.86 billion, a PE ratio of -94.72 and a beta of 0.62.

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