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

argenx SE (NASDAQ:ARGX) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 2,040,000 shares, a growth of 20.0% from the August 31st total of 1,700,000 shares. Based on an average trading volume of 349,400 shares, the days-to-cover ratio is presently 5.8 days.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Truist Financial lifted their target price on argenx from $480.00 to $540.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. William Blair restated a “market perform” rating on shares of argenx in a research note on Monday, June 17th. Robert W. Baird boosted their target price on argenx from $490.00 to $515.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Guggenheim restated a “buy” rating and issued a $585.00 target price on shares of argenx in a research note on Thursday. Finally, Piper Sandler boosted their price objective on argenx from $522.00 to $535.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $547.74.

argenx Stock Performance

ARGX stock traded up $11.53 during trading on Friday, hitting $536.11. 138,446 shares of the company traded hands, compared to its average volume of 320,076. The firm has a market capitalization of $31.86 billion, a PE ratio of -94.72 and a beta of 0.62. argenx has a 1 year low of $327.73 and a 1 year high of $554.74. The company has a 50-day moving average of $519.04 and a 200-day moving average of $437.78.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of ($0.89) by $1.34. The company had revenue of $489.43 million during the quarter, compared to analysts’ expectations of $436.66 million. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. During the same period in the prior year, the business posted ($1.69) EPS. Sell-side analysts expect that argenx will post -0.37 EPS for the current year.

Institutional Investors Weigh In On argenx

Institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its holdings in argenx by 49.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company’s stock worth $2,167,235,000 after buying an additional 1,830,651 shares during the period. Janus Henderson Group PLC lifted its holdings in argenx by 24.8% in the 1st quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock worth $872,690,000 after buying an additional 439,889 shares during the period. Capital World Investors lifted its holdings in argenx by 37.0% in the 4th quarter. Capital World Investors now owns 1,961,202 shares of the company’s stock worth $746,099,000 after buying an additional 530,181 shares during the period. Avoro Capital Advisors LLC lifted its holdings in argenx by 0.3% in the 1st quarter. Avoro Capital Advisors LLC now owns 1,238,467 shares of the company’s stock worth $487,609,000 after buying an additional 3,900 shares during the period. Finally, RTW Investments LP lifted its holdings in argenx by 31.5% in the 4th quarter. RTW Investments LP now owns 667,195 shares of the company’s stock worth $253,821,000 after buying an additional 160,000 shares during the period. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

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.