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

argenx SE (NASDAQ:ARGX – Get Rating) was the recipient of a large increase in short interest in February. As of February 28th, there was short interest totalling 911,300 shares, an increase of 5.3% from the February 13th total of 865,800 shares. Based on an average trading volume of 227,900 shares, the days-to-cover ratio is presently 4.0 days.

argenx Price Performance

Shares of ARGX opened at $356.83 on Thursday. The firm’s 50 day simple moving average is $372.55 and its 200 day simple moving average is $373.07. The company has a market capitalization of $19.80 billion, a P/E ratio of -27.15 and a beta of 0.74. argenx has a 1-year low of $267.35 and a 1-year high of $407.93.

argenx (NASDAQ:ARGX – Get Rating) last issued its quarterly earnings results on Thursday, March 2nd. The company reported ($0.70) EPS for the quarter, beating analysts’ consensus estimates of ($3.08) by $2.38. argenx had a negative net margin of 159.36% and a negative return on equity of 71.67%. The business had revenue of $182.12 million for the quarter, compared to analysts’ expectations of $177.11 million. On average, equities analysts anticipate that argenx will post -9.26 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ARGX. USS Investment Management Ltd bought a new stake in argenx in the third quarter valued at $3,542,000. Eqis Capital Management Inc. purchased a new position in argenx during the third quarter valued at $1,177,000. Price T Rowe Associates Inc. MD lifted its position in argenx by 3.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 6,377,316 shares of the company’s stock valued at $2,416,237,000 after buying an additional 182,835 shares during the period. Aigen Investment Management LP purchased a new position in argenx during the third quarter valued at $1,972,000. Finally, Eaton Vance Management lifted its position in argenx by 0.4% during the third quarter. Eaton Vance Management now owns 348,522 shares of the company’s stock valued at $123,046,000 after buying an additional 1,394 shares during the period. Institutional investors own 57.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ARGX shares. SVB Securities increased their price target on shares of argenx from $430.00 to $435.00 in a research report on Friday, March 3rd. Piper Sandler increased their price target on shares of argenx from $465.00 to $475.00 and gave the company an “overweight” rating in a research report on Thursday, February 23rd. William Blair initiated coverage on shares of argenx in a report on Tuesday, December 6th. They set an “outperform” rating on the stock. SVB Leerink upped their price objective on shares of argenx from $430.00 to $435.00 and gave the company an “outperform” rating in a report on Friday, March 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $480.00 price objective on shares of argenx in a report on Friday, March 3rd. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, argenx presently has an average rating of “Moderate Buy” and a consensus target price of $454.50.

About argenx

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argenx SE operates as a global immunology company committed to improving the lives of people suffering from severe autoimmune diseases. It operates from the Netherlands, Belgium, the United States of America, Japan, Switzerland, Germany and France. The firm partnering with academic researchers through its Immunology Innovation Program (IIP), argenx aims to translate immunology breakthroughs into a world-class portfolio of novel antibody-based medicines.