Short Interest in argenx SE – (ARGX) Decreases By 30.8%

argenx SE – (NASDAQ:ARGX) was the recipient of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 697,670 shares, a decrease of 30.8% from the February 15th total of 1,007,641 shares. Based on an average trading volume of 215,501 shares, the days-to-cover ratio is currently 3.2 days. Approximately 1.9% of the company’s shares are sold short.

Several hedge funds have recently made changes to their positions in the company. FMR LLC raised its holdings in shares of argenx by 0.3% in the fourth quarter. FMR LLC now owns 3,487,052 shares of the company’s stock valued at $335,001,000 after purchasing an additional 12,003 shares during the last quarter. Baker BROS. Advisors LP raised its holdings in shares of argenx by 6.0% in the third quarter. Baker BROS. Advisors LP now owns 1,019,557 shares of the company’s stock valued at $77,323,000 after purchasing an additional 57,803 shares during the last quarter. Redmile Group LLC raised its holdings in shares of argenx by 44.7% in the third quarter. Redmile Group LLC now owns 974,506 shares of the company’s stock valued at $73,907,000 after purchasing an additional 301,206 shares during the last quarter. Federated Investors Inc. PA raised its holdings in shares of argenx by 16.8% in the third quarter. Federated Investors Inc. PA now owns 961,276 shares of the company’s stock valued at $72,903,000 after purchasing an additional 138,531 shares during the last quarter. Finally, BB Biotech AG raised its holdings in shares of argenx by 20.4% in the fourth quarter. BB Biotech AG now owns 884,739 shares of the company’s stock valued at $84,997,000 after purchasing an additional 150,000 shares during the last quarter. Institutional investors own 63.72% of the company’s stock.

Shares of ARGX stock opened at $132.27 on Friday. The stock has a market capitalization of $4.26 billion, a PE ratio of -94.48 and a beta of 1.29. argenx has a one year low of $63.81 and a one year high of $135.58.

Several equities analysts have issued reports on the stock. Wedbush upped their price target on shares of argenx from $131.00 to $144.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Zacks Investment Research cut shares of argenx from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Guggenheim assumed coverage on shares of argenx in a research report on Friday, February 22nd. They issued a “buy” rating and a $157.00 price target for the company. Stifel Nicolaus restated a “buy” rating on shares of argenx in a research report on Monday, February 4th. Finally, ValuEngine upgraded shares of argenx from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. One analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $140.91.

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About argenx

argenx SE, a clinical-stage biopharmaceutical company, focuses on developing antibody-based therapies for the treatment of autoimmune diseases and cancer. The company's lead product candidates include ARGX-113 that completed Phase 2 clinical trials for the treatment of autoimmune diseases, including myasthenia gravis, immune thrombocytopenia, and pemphigus vulgaris; and ARGX-110, which is in Phase 1/2 clinical trials for the treatment of T-cell lymphoma, acute myeloid leukemia, and myelodysplastic syndrome.

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