argenx SE (NASDAQ:ARGX) Short Interest Down 5.3% in November

argenx SE (NASDAQ:ARGX) saw a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 1,960,000 shares, a decrease of 5.3% from the November 15th total of 2,070,000 shares. Based on an average daily trading volume, of 260,400 shares, the short-interest ratio is currently 7.5 days.

argenx Price Performance

argenx stock opened at $638.33 on Wednesday. The stock has a market cap of $38.53 billion, a price-to-earnings ratio of -725.38 and a beta of 0.59. The firm has a 50-day moving average of $583.23 and a two-hundred day moving average of $517.38. argenx has a 1 year low of $327.73 and a 1 year high of $644.97.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $1.29. The company had revenue of $588.88 million for the quarter, compared to analysts’ expectations of $543.29 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. During the same quarter in the prior year, the firm earned ($1.25) earnings per share. Research analysts expect that argenx will post 2.2 earnings per share for the current year.

Hedge Funds Weigh In On argenx

Several institutional investors have recently made changes to their positions in the company. Lord Abbett & CO. LLC bought a new position in argenx during the 3rd quarter worth about $88,339,000. Wilmington Savings Fund Society FSB bought a new position in shares of argenx during the third quarter valued at approximately $652,000. Sanctuary Advisors LLC boosted its stake in shares of argenx by 17.5% during the third quarter. Sanctuary Advisors LLC now owns 2,064 shares of the company’s stock valued at $1,119,000 after purchasing an additional 308 shares in the last quarter. M&T Bank Corp increased its holdings in argenx by 7.2% during the third quarter. M&T Bank Corp now owns 4,307 shares of the company’s stock valued at $2,335,000 after buying an additional 289 shares during the period. Finally, MML Investors Services LLC raised its stake in argenx by 16.9% in the third quarter. MML Investors Services LLC now owns 8,699 shares of the company’s stock worth $4,715,000 after buying an additional 1,255 shares in the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Piper Sandler lifted their price objective on argenx from $553.00 to $620.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Oppenheimer reaffirmed an “outperform” rating and set a $675.00 price target (up previously from $646.00) on shares of argenx in a research note on Thursday, November 21st. Evercore ISI increased their price objective on shares of argenx from $675.00 to $706.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Baird R W downgraded shares of argenx from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Robert W. Baird downgraded shares of argenx from an “outperform” rating to a “neutral” rating and increased their price target for the company from $515.00 to $650.00 in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, argenx has an average rating of “Moderate Buy” and an average price target of $635.11.

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.