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

argenx SE (NASDAQ:ARGX - Get Free Report) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,330,000 shares, an increase of 10.8% from the March 31st total of 1,200,000 shares. Based on an average daily trading volume, of 297,300 shares, the days-to-cover ratio is presently 4.5 days.

Hedge Funds Weigh In On argenx

Hedge funds have recently made changes to their positions in the stock. Parkside Financial Bank & Trust purchased a new position in argenx in the 3rd quarter valued at approximately $28,000. GAMMA Investing LLC boosted its position in argenx by 420.0% in the 1st quarter. GAMMA Investing LLC now owns 78 shares of the company's stock valued at $31,000 after buying an additional 63 shares during the period. FNY Investment Advisers LLC purchased a new position in argenx in the 4th quarter valued at approximately $38,000. Mather Group LLC. purchased a new position in argenx in the 1st quarter valued at approximately $38,000. Finally, Nkcfo LLC lifted its position in shares of argenx by 22.1% during the 3rd quarter. Nkcfo LLC now owns 116 shares of the company's stock worth $57,000 after purchasing an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company's stock.

Analyst Ratings Changes

ARGX has been the topic of several research reports. HC Wainwright reissued a "buy" rating and set a $451.00 price objective on shares of argenx in a report on Thursday, April 18th. Wolfe Research initiated coverage on shares of argenx in a research report on Thursday, February 15th. They set a "peer perform" rating for the company. Robert W. Baird decreased their target price on shares of argenx from $505.00 to $490.00 and set an "outperform" rating for the company in a research report on Friday, March 1st. JMP Securities restated a "market outperform" rating and set a $471.00 target price on shares of argenx in a research report on Friday, March 22nd. Finally, Scotiabank boosted their target price on shares of argenx from $402.00 to $408.00 and gave the company a "sector perform" rating in a research report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, argenx presently has a consensus rating of "Moderate Buy" and a consensus target price of $528.16.

argenx Stock Performance

Shares of NASDAQ ARGX traded up $2.49 during midday trading on Monday, reaching $375.29. 132,200 shares of the stock were exchanged, compared to its average volume of 317,143. The stock has a market capitalization of $22.30 billion, a P/E ratio of -73.63 and a beta of 0.65. The company has a 50 day simple moving average of $385.52 and a 200 day simple moving average of $415.73. argenx has a twelve month low of $327.73 and a twelve month high of $550.76.

argenx (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($1.68) earnings per share 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 analysts' expectations of $378.60 million. argenx had a negative return on equity of 16.97% and a negative net margin of 23.26%. During the same period in the previous year, the business posted ($0.70) EPS. On average, research analysts expect that argenx will post -2.09 earnings per share 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.