argenx SE (NASDAQ:ARGX) Short Interest Up 20.2% in June

argenx SE (NASDAQ:ARGX) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totalling 1,550,000 shares, an increase of 20.2% from the May 31st total of 1,290,000 shares. Based on an average daily volume of 270,000 shares, the short-interest ratio is currently 5.7 days.

argenx Stock Performance

Shares of ARGX traded up $1.27 during trading hours on Tuesday, hitting $435.49. The stock had a trading volume of 286,969 shares, compared to its average volume of 313,069. The firm has a 50-day moving average price of $385.49 and a 200 day moving average price of $385.74. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $550.76. The firm has a market capitalization of $25.88 billion, a price-to-earnings ratio of -76.94 and a beta of 0.64.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Monday, May 13th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.33). argenx had a negative return on equity of 14.14% and a negative net margin of 22.58%. The firm had revenue of $412.51 million during the quarter, compared to analyst estimates of $404.03 million. During the same quarter last year, the company posted ($0.52) EPS. As a group, analysts predict that argenx will post -2.88 EPS for the current fiscal year.

Hedge Funds Weigh In On argenx

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in shares of argenx by 420.0% in the first quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock valued at $31,000 after purchasing an additional 63 shares during the period. FNY Investment Advisers LLC acquired a new stake in argenx in the 4th quarter worth about $38,000. Mather Group LLC. purchased a new stake in argenx during the 1st quarter worth approximately $38,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of argenx during the fourth quarter valued at approximately $60,000. Finally, Lindbrook Capital LLC lifted its position in shares of argenx by 23.1% in the first quarter. Lindbrook Capital LLC now owns 197 shares of the company’s stock valued at $78,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ARGX shares. Piper Sandler increased their price target on argenx from $522.00 to $535.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. HC Wainwright reaffirmed a “buy” rating and issued a $448.00 price objective on shares of argenx in a research report on Monday, June 24th. Stifel Nicolaus boosted their target price on shares of argenx from $485.00 to $500.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Scotiabank raised their price target on shares of argenx from $402.00 to $408.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 26th. Finally, Bank of America reiterated a “buy” rating and set a $607.00 price objective (up from $535.00) on shares of argenx in a research note on Monday, June 24th. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $525.42.

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.