iA Global Asset Management Inc. Sells 700 Shares of argenx SE (NASDAQ:ARGX)

iA Global Asset Management Inc. reduced its position in shares of argenx SE (NASDAQ:ARGX) by 11.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,370 shares of the company’s stock after selling 700 shares during the period. iA Global Asset Management Inc.’s holdings in argenx were worth $2,911,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased 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 valued at $261,470,000 after buying an additional 55,617 shares during the last quarter. Stifel Financial Corp lifted its holdings in argenx by 15.3% during the third quarter. Stifel Financial Corp now owns 8,832 shares of the company’s stock worth $4,788,000 after acquiring an additional 1,170 shares during the period. Quantinno Capital Management LP lifted its holdings in argenx by 18.9% during the third quarter. Quantinno Capital Management LP now owns 2,524 shares of the company’s stock worth $1,368,000 after acquiring an additional 402 shares during the period. Janus Henderson Group PLC grew its stake in argenx by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 2,479,207 shares of the company’s stock valued at $1,343,797,000 after purchasing an additional 10,975 shares during the period. Finally, HighTower Advisors LLC increased its position in shares of argenx by 11.7% during the 3rd quarter. HighTower Advisors LLC now owns 4,671 shares of the company’s stock valued at $2,558,000 after purchasing an additional 489 shares during the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ARGX has been the subject of several research reports. Oppenheimer restated an “outperform” rating and set a $675.00 price target (up previously from $646.00) on shares of argenx in a research report on Thursday, November 21st. William Blair upgraded shares of argenx from a “market perform” rating to an “outperform” rating in a research note on Friday, November 1st. Citigroup upped their price objective on argenx from $512.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Wedbush reissued an “outperform” rating and issued a $655.00 target price on shares of argenx in a research report on Tuesday, December 3rd. Finally, Guggenheim upped their price target on argenx from $585.00 to $665.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $635.42.

argenx Price Performance

NASDAQ ARGX opened at $623.11 on Monday. The company’s 50 day simple moving average is $574.53 and its two-hundred day simple moving average is $507.04. The stock has a market capitalization of $37.62 billion, a PE ratio of -708.08 and a beta of 0.59. argenx SE has a 1 year low of $327.73 and a 1 year high of $630.00.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. The company had revenue of $588.88 million for the quarter, compared to the consensus estimate 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 business posted ($1.25) earnings per share. On average, research analysts anticipate that argenx SE will post 2.2 EPS for the current year.

argenx 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.