argenx SE (NASDAQ:ARGX) Sees Large Drop in Short Interest

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

argenx Stock Down 1.5 %

Shares of ARGX stock opened at $370.68 on Wednesday. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $550.76. The stock has a market cap of $21.98 billion, a P/E ratio of -72.12 and a beta of 0.65. The business has a fifty day simple moving average of $389.50 and a 200-day simple moving average of $422.65.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($1.68) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.45). The company had revenue of $417.84 million for the quarter, compared to analyst estimates 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 period in the previous year, the business earned ($0.70) EPS. On average, sell-side analysts anticipate that argenx will post -2 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ARGX. William Blair downgraded argenx from an “outperform” rating to a “market perform” rating in a report on Wednesday, December 20th. HC Wainwright restated a “buy” rating and set a $451.00 price target on shares of argenx in a research note on Wednesday, March 27th. Evercore ISI cut their price target on argenx from $594.00 to $436.00 and set an “outperform” rating for the company in a research note on Thursday, December 21st. Deutsche Bank Aktiengesellschaft cut argenx from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Finally, Wells Fargo & Company upped their price target on argenx from $472.00 to $478.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $530.74.

Institutional Trading of argenx

A number of large investors have recently made changes to their positions in ARGX. Steph & Co. boosted its stake in argenx by 27.1% in the 1st quarter. Steph & Co. now owns 413 shares of the company’s stock worth $163,000 after buying an additional 88 shares during the last quarter. Park Avenue Securities LLC boosted its stake in argenx by 20.7% in the 1st quarter. Park Avenue Securities LLC now owns 1,235 shares of the company’s stock worth $486,000 after buying an additional 212 shares during the last quarter. Mather Group LLC. acquired a new stake in argenx in the 1st quarter worth about $38,000. GAMMA Investing LLC boosted its stake in argenx by 420.0% in the 1st quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock worth $31,000 after buying an additional 63 shares during the last quarter. Finally, Wahed Invest LLC boosted its stake in argenx by 9.6% in the 4th quarter. Wahed Invest LLC now owns 457 shares of the company’s stock worth $174,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.