argenx SE (NASDAQ:ARGX) Short Interest Down 10.4% in March

argenx SE (NASDAQ:ARGX) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,200,000 shares, a drop of 10.4% from the March 15th total of 1,340,000 shares. Based on an average daily trading volume, of 332,500 shares, the days-to-cover ratio is presently 3.6 days.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ARGX shares. William Blair cut argenx from an “outperform” rating to a “market perform” rating in a research note on Wednesday, December 20th. Piper Sandler raised their price objective on argenx from $518.00 to $522.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Truist Financial raised their target price on argenx from $370.00 to $440.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Robert W. Baird cut their target price on argenx from $505.00 to $490.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. Finally, Stifel Nicolaus raised their target price on argenx from $557.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, December 18th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, argenx presently has an average rating of “Moderate Buy” and an average price target of $530.74.

Hedge Funds Weigh In On argenx

A number of institutional investors and hedge funds have recently modified their holdings of ARGX. JPMorgan Chase & Co. boosted its stake in shares of argenx by 143.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,577 shares of the company’s stock worth $497,000 after buying an additional 928 shares during the last quarter. Raymond James & Associates raised its holdings in argenx by 19.4% in the 1st quarter. Raymond James & Associates now owns 4,534 shares of the company’s stock worth $1,430,000 after purchasing an additional 738 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in argenx by 46.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 3,544 shares of the company’s stock worth $1,117,000 after purchasing an additional 1,116 shares during the period. Bank of New York Mellon Corp raised its holdings in argenx by 4.4% in the 1st quarter. Bank of New York Mellon Corp now owns 6,447 shares of the company’s stock worth $2,033,000 after purchasing an additional 271 shares during the period. Finally, US Bancorp DE raised its holdings in argenx by 43.0% in the 1st quarter. US Bancorp DE now owns 1,798 shares of the company’s stock worth $566,000 after purchasing an additional 541 shares during the period. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenx Trading Down 0.4 %

Shares of ARGX opened at $378.02 on Monday. The business’s fifty day simple moving average is $390.49 and its two-hundred day simple moving average is $424.28. argenx has a 12 month low of $327.73 and a 12 month high of $550.76. The company has a market cap of $22.42 billion, a price-to-earnings ratio of -73.54 and a beta of 0.65.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, February 29th. The company reported ($1.68) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.45). The business had revenue of $417.84 million for the quarter, compared to analysts’ expectations of $378.60 million. argenx had a negative net margin of 23.26% and a negative return on equity of 16.97%. During the same quarter in the prior year, the business posted ($0.70) earnings per share. As a group, research analysts forecast that argenx will post -2 EPS for the current year.

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.