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

argenx SE (NASDAQ:ARGX) was the target of a significant decrease in short interest in 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 daily volume of 332,500 shares, the short-interest ratio is currently 3.6 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. KB Financial Partners LLC raised its position in shares of argenx by 112.5% during the 1st quarter. KB Financial Partners LLC now owns 85 shares of the company’s stock worth $27,000 after purchasing an additional 45 shares during the last quarter. ADAR1 Capital Management LLC acquired a new position in shares of argenx during the 4th quarter worth about $27,000. Parkside Financial Bank & Trust acquired a new position in shares of argenx during the 3rd quarter worth about $28,000. GAMMA Investing LLC raised its holdings 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 acquiring an additional 63 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in argenx in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenx Stock Down 0.4 %

ARGX stock opened at $378.02 on Monday. The company’s 50-day simple moving average is $390.49 and its 200-day simple moving average is $424.28. argenx has a 52-week low of $327.73 and a 52-week high of $550.76. The firm has a market cap of $22.42 billion, a P/E ratio of -73.54 and a beta of 0.65.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on ARGX. Robert W. Baird reduced their price target on argenx from $505.00 to $490.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. Wolfe Research assumed coverage on shares of argenx in a report on Thursday, February 15th. They set a “peer perform” rating on the stock. Truist Financial boosted their price objective on shares of argenx from $370.00 to $440.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft lowered shares of argenx from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Finally, HC Wainwright reissued a “buy” rating and set a $451.00 price objective on shares of argenx in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $530.74.

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.