argenx SE (NASDAQ:ARGX) Short Interest Down 5.3% in November

argenx SE (NASDAQ:ARGX) was the recipient of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 1,960,000 shares, a decline of 5.3% from the November 15th total of 2,070,000 shares. Based on an average daily volume of 260,400 shares, the short-interest ratio is presently 7.5 days.

Institutional Investors Weigh In On argenx

Institutional investors have recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of argenx by 35.9% during the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after purchasing an additional 1,265,486 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of argenx during the third quarter worth about $88,339,000. Perpetual Ltd acquired a new position in shares of argenx during the third quarter valued at about $76,314,000. Logos Global Management LP purchased a new position in shares of argenx in the 2nd quarter valued at approximately $58,055,000. Finally, Wellington Management Group LLP boosted its stake in argenx by 13.0% in the 3rd quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock worth $261,470,000 after purchasing an additional 55,617 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ARGX shares. Oppenheimer reaffirmed an “outperform” rating and set a $675.00 price objective (up from $646.00) on shares of argenx in a research note on Thursday, November 21st. Wells Fargo & Company upped their target price on shares of argenx from $547.00 to $639.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Guggenheim lifted their price objective on argenx from $585.00 to $665.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Citigroup boosted their price target on argenx from $512.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, HC Wainwright reissued a “buy” rating and set a $617.00 target price on shares of argenx in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, argenx has a consensus rating of “Moderate Buy” and an average target price of $635.11.

argenx Stock Performance

NASDAQ:ARGX opened at $624.18 on Thursday. The firm has a 50-day simple moving average of $585.45 and a 200-day simple moving average of $519.26. argenx has a one year low of $327.73 and a one year high of $644.97. The firm has a market cap of $37.68 billion, a P/E ratio of -709.30 and a beta of 0.59.

argenx (NASDAQ:ARGX) last announced its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $1.29. The business had revenue of $588.88 million for the quarter, compared to analysts’ expectations of $543.29 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. During the same quarter last year, the firm earned ($1.25) EPS. On average, research analysts predict that argenx will post 2.2 EPS for the current fiscal year.

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.