argenx SE (NASDAQ:ARGX) Short Interest Up 20.2% in June

argenx SE (NASDAQ:ARGX) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 1,550,000 shares, an increase of 20.2% from the May 31st total of 1,290,000 shares. Based on an average daily trading volume, of 270,000 shares, the days-to-cover ratio is presently 5.7 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in argenx by 51.3% in 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 during the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of argenx by 1.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 8,445 shares of the company’s stock valued at $3,320,000 after purchasing an additional 128 shares during the last quarter. Cetera Advisors LLC purchased a new position in shares of argenx during the 1st quarter valued at about $419,000. Wahed Invest LLC lifted its position in argenx by 43.5% in the 1st quarter. Wahed Invest LLC now owns 656 shares of the company’s stock worth $258,000 after buying an additional 199 shares during the last quarter. Finally, Dynasty Wealth Management LLC bought a new stake in argenx in the 1st quarter worth approximately $213,000. 60.32% of the stock is currently owned by institutional investors.

argenx Stock Performance

ARGX stock traded up $1.27 during midday trading on Tuesday, reaching $435.49. 286,969 shares of the company’s stock traded hands, compared to its average volume of 313,069. argenx has a 52 week low of $327.73 and a 52 week high of $550.76. The company has a 50-day moving average price of $385.49 and a two-hundred day moving average price of $385.74. The firm has a market capitalization of $25.88 billion, a PE ratio of -76.94 and a beta of 0.64.

argenx (NASDAQ:ARGX) last announced its quarterly earnings results on Monday, May 13th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.33). argenx had a negative net margin of 22.58% and a negative return on equity of 14.14%. The company had revenue of $412.51 million for the quarter, compared to the consensus estimate of $404.03 million. During the same quarter in the prior year, the company earned ($0.52) earnings per share. As a group, analysts predict that argenx will post -2.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $448.00 target price on shares of argenx in a research report on Monday, June 24th. Scotiabank upped their price objective 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. Truist Financial raised their target price on argenx from $440.00 to $480.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. William Blair reaffirmed a “market perform” rating on shares of argenx in a research note on Monday, June 17th. Finally, Morgan Stanley reduced their price objective on argenx from $515.00 to $510.00 and set an “overweight” rating for the company in a research note on Tuesday, May 28th. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, argenx currently has an average rating of “Moderate Buy” and a consensus target price of $525.42.

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.