argenx SE (NASDAQ:ARGX) Short Interest Down 10.6% in October

argenx SE (NASDAQ:ARGX - Get Free Report) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 1,780,000 shares, a drop of 10.6% from the September 30th total of 1,990,000 shares. Based on an average daily trading volume, of 288,900 shares, the short-interest ratio is presently 6.2 days.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ARGX shares. Wells Fargo & Company increased their price objective on argenx from $543.00 to $547.00 and gave the stock an "overweight" rating in a research note on Friday, July 26th. Wedbush boosted their price objective on shares of argenx from $519.00 to $560.00 and gave the company an "outperform" rating in a research report on Friday, July 26th. HC Wainwright lifted their target price on shares of argenx from $504.00 to $533.00 and gave the company a "buy" rating in a research note on Friday, July 26th. JPMorgan Chase & Co. upped their price target on shares of argenx from $500.00 to $640.00 and gave the stock an "overweight" rating in a research note on Friday, August 23rd. Finally, Citigroup lifted their price objective on argenx from $512.00 to $635.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $550.44.

argenx Price Performance

ARGX stock traded down $1.59 on Tuesday, reaching $552.88. 215,287 shares of the company were exchanged, compared to its average volume of 306,401. The firm has a market capitalization of $32.86 billion, a PE ratio of -97.96 and a beta of 0.63. argenx has a 12 month low of $327.73 and a 12 month high of $571.97. The stock's fifty day moving average price is $535.45 and its 200 day moving average price is $461.59.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ARGX. Profund Advisors LLC increased its stake in argenx by 3.0% during the second quarter. Profund Advisors LLC now owns 973 shares of the company's stock valued at $418,000 after acquiring an additional 28 shares during the period. Wealth Alliance increased its holdings in argenx by 4.8% in the 2nd quarter. Wealth Alliance now owns 628 shares of the company's stock valued at $270,000 after buying an additional 29 shares during the period. GAMMA Investing LLC lifted its holdings in shares of argenx by 51.3% during the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company's stock worth $51,000 after acquiring an additional 40 shares during the period. Toronto Dominion Bank boosted its position in shares of argenx by 16.5% during the 1st quarter. Toronto Dominion Bank now owns 303 shares of the company's stock valued at $119,000 after acquiring an additional 43 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in argenx by 3.1% in the second quarter. Sequoia Financial Advisors LLC now owns 1,713 shares of the company's stock valued at $737,000 after acquiring an additional 52 shares during the period. Institutional investors own 60.32% of the company's stock.

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.