argenx SE (NASDAQ:ARGX) Short Interest Up 21.8% in November

argenx SE (NASDAQ:ARGX) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 2,070,000 shares, an increase of 21.8% from the October 31st total of 1,700,000 shares. Based on an average trading volume of 271,000 shares, the days-to-cover ratio is presently 7.6 days.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ARGX. JMP Securities raised their price objective on shares of argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a report on Friday, November 1st. Citigroup lifted their price target on shares of argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Barclays raised shares of argenx from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. raised their price objective on argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Guggenheim boosted their target price on argenx from $585.00 to $665.00 and gave the company a “buy” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $630.42.

Hedge Funds Weigh In On argenx

A number of large investors have recently modified their holdings of ARGX. Profund Advisors LLC increased its holdings in shares of argenx by 3.0% in the 2nd quarter. Profund Advisors LLC now owns 973 shares of the company’s stock valued at $418,000 after purchasing an additional 28 shares in the last quarter. Raymond James Trust N.A. increased its holdings in argenx by 6.0% in the third quarter. Raymond James Trust N.A. now owns 495 shares of the company’s stock valued at $268,000 after buying an additional 28 shares in the last quarter. Wealth Alliance lifted its position in shares of argenx by 4.8% during the 2nd quarter. Wealth Alliance now owns 628 shares of the company’s stock valued at $270,000 after acquiring an additional 29 shares during the period. GAMMA Investing LLC boosted its stake in shares of argenx by 51.3% during the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after acquiring an additional 40 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in shares of argenx by 8.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 528 shares of the company’s stock worth $286,000 after acquiring an additional 43 shares during the period. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenx Stock Up 0.3 %

Shares of NASDAQ ARGX traded up $1.96 during mid-day trading on Friday, hitting $616.55. 190,007 shares of the company were exchanged, compared to its average volume of 310,467. The firm has a market cap of $37.22 billion, a price-to-earnings ratio of -700.63 and a beta of 0.61. The stock has a 50 day simple moving average of $565.73 and a 200-day simple moving average of $496.24. argenx has a 1-year low of $327.73 and a 1-year high of $620.28.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. The business had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. During the same period in the previous year, the business posted ($1.25) earnings per share. Analysts anticipate that argenx will post 2.2 earnings per share 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.