Short Interest in argenx SE (NASDAQ:ARGX) Rises By 10.7%

argenx SE (NASDAQ:ARGX) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 1,960,000 shares, a growth of 10.7% from the July 15th total of 1,770,000 shares. Based on an average daily trading volume, of 361,700 shares, the short-interest ratio is presently 5.4 days.

argenx Trading Up 0.0 %

Shares of NASDAQ:ARGX traded up $0.10 during trading on Friday, reaching $525.00. The stock had a trading volume of 186,765 shares, compared to its average volume of 330,512. argenx has a one year low of $327.73 and a one year high of $540.49. The company has a market capitalization of $31.20 billion, a P/E ratio of -92.76 and a beta of 0.64. The firm’s 50-day simple moving average is $458.67 and its 200 day simple moving average is $409.17.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, July 25th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 12.31% and a negative return on equity of 7.33%. During the same period last year, the business earned ($1.69) EPS. Equities research analysts forecast that argenx will post -0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On argenx

A number of institutional investors have recently bought and sold shares of ARGX. Profund Advisors LLC lifted its stake 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 during the period. Wealth Alliance raised its position in argenx by 4.8% during the second quarter. Wealth Alliance now owns 628 shares of the company’s stock worth $270,000 after acquiring an additional 29 shares during the period. Lindbrook Capital LLC raised its position 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 acquiring an additional 37 shares during the period. Wahed Invest LLC raised its position in argenx by 9.6% during the fourth quarter. Wahed Invest LLC now owns 457 shares of the company’s stock worth $174,000 after acquiring an additional 40 shares during the period. Finally, GAMMA Investing LLC raised its position in argenx by 51.3% during the second quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after acquiring an additional 40 shares during the period. 60.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Deutsche Bank Aktiengesellschaft upgraded argenx from a “hold” rating to a “buy” rating in a research note on Thursday, July 25th. Oppenheimer upgraded argenx from a “market perform” rating to an “outperform” rating and set a $546.00 target price on the stock in a research note on Tuesday, July 23rd. Evercore ISI raised their price target on argenx from $478.00 to $533.00 and gave the stock an “outperform” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. reduced their price objective on argenx from $560.00 to $500.00 and set an “overweight” rating for the company in a research report on Monday, May 13th. Finally, William Blair reissued a “market perform” rating on shares of argenx in a report on Monday, June 17th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $540.37.

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.