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

argenx SE (NASDAQ:ARGX) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 2,070,000 shares, a growth of 21.8% from the October 31st total of 1,700,000 shares. Based on an average daily volume of 271,000 shares, the short-interest ratio is currently 7.6 days.

argenx Trading Up 0.3 %

ARGX stock traded up $1.96 during midday trading on Friday, reaching $616.55. 190,007 shares of the company’s stock traded hands, compared to its average volume of 310,467. The stock has a market cap of $37.22 billion, a P/E ratio of -700.63 and a beta of 0.61. argenx has a 52-week low of $327.73 and a 52-week high of $620.28. The stock’s 50-day moving average is $565.73 and its 200 day moving average is $496.24.

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

Analyst Upgrades and Downgrades

Several research firms have commented on ARGX. Oppenheimer reissued an “outperform” rating and issued a $675.00 target price (up from $646.00) on shares of argenx in a report on Thursday, November 21st. Piper Sandler increased their price objective on shares of argenx from $553.00 to $620.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Barclays raised shares of argenx from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 6th. Guggenheim upped their target price on shares of argenx from $585.00 to $665.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Raymond James reissued a “strong-buy” rating and set a $605.00 price target on shares of argenx in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, argenx presently has an average rating of “Moderate Buy” and a consensus target price of $630.42.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Fiera Capital Corp grew its stake in argenx by 2.2% during the 2nd quarter. Fiera Capital Corp now owns 165,595 shares of the company’s stock worth $71,212,000 after purchasing an additional 3,506 shares in the last quarter. FMR LLC grew its position in shares of argenx by 35.9% during the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock worth $2,598,445,000 after buying an additional 1,265,486 shares in the last quarter. Cetera Advisors LLC purchased a new stake in shares of argenx during the first quarter worth approximately $419,000. Simplify Asset Management Inc. raised its holdings in argenx by 64.0% in the third quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock valued at $1,311,000 after acquiring an additional 944 shares in the last quarter. Finally, Perpetual Ltd purchased a new position in argenx in the third quarter worth approximately $76,314,000. Hedge funds and other institutional investors own 60.32% of the company’s stock.

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.