argenx SE (NASDAQ:ARGX) Shares Sold by Eventide Asset Management LLC

Eventide Asset Management LLC lessened its stake in argenx SE (NASDAQ:ARGX) by 50.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,189 shares of the company’s stock after selling 110,756 shares during the period. Eventide Asset Management LLC owned 0.18% of argenx worth $58,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Fiera Capital Corp raised its holdings in argenx by 2.2% during the second quarter. Fiera Capital Corp now owns 165,595 shares of the company’s stock worth $71,212,000 after purchasing an additional 3,506 shares in the last quarter. FMR LLC grew its position in shares of argenx by 35.9% in the third 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. Cetera Advisors LLC acquired a new stake in argenx during the first quarter worth approximately $419,000. Simplify Asset Management Inc. boosted its position in argenx by 64.0% during the third quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock worth $1,311,000 after acquiring an additional 944 shares during the last quarter. Finally, Perpetual Ltd acquired a new stake in argenx during the third quarter worth approximately $76,314,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenx Trading Up 1.2 %

Shares of argenx stock opened at $614.59 on Friday. The company’s 50-day moving average price is $564.06 and its two-hundred day moving average price is $494.46. argenx SE has a 52 week low of $327.73 and a 52 week high of $620.28. The stock has a market cap of $37.10 billion, a PE ratio of -698.40 and a beta of 0.61.

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

Analyst Upgrades and Downgrades

ARGX has been the topic of a number of research analyst reports. Citigroup lifted their price target on shares of argenx from $512.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Baird R W downgraded shares of argenx from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Barclays raised shares of argenx from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, August 6th. JMP Securities boosted their target price on shares of argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company lifted their target price on argenx from $547.00 to $639.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, argenx presently has a consensus rating of “Moderate Buy” and a consensus price target of $630.42.

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.