Short Interest in argenx SE (NASDAQ:ARGX) Rises By 10.8%

argenx SE (NASDAQ:ARGX) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 1,330,000 shares, a growth of 10.8% from the March 31st total of 1,200,000 shares. Based on an average daily volume of 297,300 shares, the days-to-cover ratio is currently 4.5 days.

Hedge Funds Weigh In On argenx

Large investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. increased its holdings in argenx by 60.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 5,954 shares of the company’s stock valued at $2,344,000 after buying an additional 2,235 shares in the last quarter. Marks Group Wealth Management Inc increased its stake in argenx by 14.7% in the 1st quarter. Marks Group Wealth Management Inc now owns 1,186 shares of the company’s stock valued at $467,000 after purchasing an additional 152 shares in the last quarter. Lindbrook Capital LLC raised its holdings in argenx by 23.1% during the first quarter. Lindbrook Capital LLC now owns 197 shares of the company’s stock worth $78,000 after purchasing an additional 37 shares during the last quarter. Altfest L J & Co. Inc. acquired a new stake in argenx in the first quarter valued at $307,000. Finally, Raymond James & Associates increased its position in shares of argenx by 48.5% in the first quarter. Raymond James & Associates now owns 49,478 shares of the company’s stock valued at $19,480,000 after buying an additional 16,166 shares in the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenx Price Performance

Shares of NASDAQ:ARGX traded down $0.09 during trading on Tuesday, reaching $375.20. The company had a trading volume of 78,467 shares, compared to its average volume of 314,243. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $550.76. The stock’s fifty day moving average price is $385.19 and its 200 day moving average price is $414.89. The firm has a market capitalization of $22.30 billion, a price-to-earnings ratio of -73.01 and a beta of 0.65.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($1.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.45). argenx had a negative net margin of 23.26% and a negative return on equity of 16.97%. The firm had revenue of $417.84 million during the quarter, compared to analyst estimates of $378.60 million. During the same period in the prior year, the firm posted ($0.70) earnings per share. On average, equities analysts anticipate that argenx will post -2.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ARGX shares. Wolfe Research assumed coverage on argenx in a research report on Thursday, February 15th. They set a “peer perform” rating for the company. JMP Securities reiterated a “market outperform” rating and issued a $471.00 price target on shares of argenx in a research note on Friday, March 22nd. Piper Sandler raised their price objective on shares of argenx from $518.00 to $522.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Scotiabank upped their target price on shares of argenx from $402.00 to $408.00 and gave the company a “sector perform” rating in a report on Tuesday, March 26th. Finally, HC Wainwright reiterated a “buy” rating and set a $451.00 price target on shares of argenx in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $528.16.

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.