argenx SE – (NASDAQ:ARGX) was the recipient of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 697,670 shares, a decrease of 30.8% from the February 15th total of 1,007,641 shares. Currently, 1.9% of the company’s shares are sold short. Based on an average daily volume of 215,501 shares, the days-to-cover ratio is presently 3.2 days.
Shares of ARGX stock opened at $129.80 on Friday. argenx has a 52 week low of $63.81 and a 52 week high of $135.58. The firm has a market capitalization of $4.02 billion, a P/E ratio of -92.71 and a beta of 1.29.
A number of hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its stake in argenx by 0.3% in the fourth quarter. FMR LLC now owns 3,487,052 shares of the company’s stock worth $335,001,000 after acquiring an additional 12,003 shares during the period. Baker BROS. Advisors LP raised its holdings in argenx by 6.0% in the third quarter. Baker BROS. Advisors LP now owns 1,019,557 shares of the company’s stock worth $77,323,000 after purchasing an additional 57,803 shares in the last quarter. Redmile Group LLC raised its holdings in argenx by 44.7% in the third quarter. Redmile Group LLC now owns 974,506 shares of the company’s stock worth $73,907,000 after purchasing an additional 301,206 shares in the last quarter. Federated Investors Inc. PA raised its holdings in argenx by 16.8% in the third quarter. Federated Investors Inc. PA now owns 961,276 shares of the company’s stock worth $72,903,000 after purchasing an additional 138,531 shares in the last quarter. Finally, BB Biotech AG raised its holdings in argenx by 20.4% in the fourth quarter. BB Biotech AG now owns 884,739 shares of the company’s stock worth $84,997,000 after purchasing an additional 150,000 shares in the last quarter. 63.72% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on ARGX shares. Piper Jaffray Companies increased their price objective on argenx from $154.00 to $161.00 and gave the company an “overweight” rating in a research note on Tuesday, December 4th. Cowen reaffirmed a “buy” rating on shares of argenx in a research note on Sunday, December 9th. Goldman Sachs Group initiated coverage on argenx in a research note on Monday, December 17th. They issued a “buy” rating and a $154.00 price target for the company. SunTrust Banks reaffirmed a “buy” rating on shares of argenx in a research note on Friday, January 18th. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of argenx in a research note on Monday, February 4th. One equities research analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $140.91.
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argenx SE, a clinical-stage biopharmaceutical company, focuses on developing antibody-based therapies for the treatment of autoimmune diseases and cancer. The company's lead product candidates include ARGX-113 that completed Phase 2 clinical trials for the treatment of autoimmune diseases, including myasthenia gravis, immune thrombocytopenia, and pemphigus vulgaris; and ARGX-110, which is in Phase 1/2 clinical trials for the treatment of T-cell lymphoma, acute myeloid leukemia, and myelodysplastic syndrome.
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