HighVista Strategies LLC Has $3.88 Million Position in argenx SE (NASDAQ:ARGX)

HighVista Strategies LLC lifted its stake in shares of argenx SE (NASDAQ:ARGX) by 8.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,154 shares of the company’s stock after buying an additional 550 shares during the quarter. argenx comprises about 1.3% of HighVista Strategies LLC’s investment portfolio, making the stock its 14th biggest position. HighVista Strategies LLC’s holdings in argenx were worth $3,878,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC grew its holdings in argenx by 35.9% in the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after buying an additional 1,265,486 shares in the last quarter. Perpetual Ltd bought a new stake in shares of argenx in the third quarter valued at about $76,314,000. Logos Global Management LP acquired a new position in shares of argenx in the second quarter valued at about $58,055,000. Sei Investments Co. increased its position in argenx by 15.2% during the second quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock worth $164,079,000 after acquiring an additional 50,477 shares during the period. Finally, Tri Locum Partners LP increased its position in argenx by 166.5% during the second quarter. Tri Locum Partners LP now owns 74,558 shares of the company’s stock worth $32,063,000 after acquiring an additional 46,577 shares during the period. Institutional investors own 60.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ARGX. Wolfe Research upgraded shares of argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 target price on the stock in a research report on Tuesday, November 12th. HC Wainwright reissued a “buy” rating and set a $617.00 price target on shares of argenx in a research report on Wednesday, November 20th. Barclays upgraded argenx from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. increased their target price on argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Piper Sandler boosted their price target on argenx from $553.00 to $620.00 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 given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $630.42.

argenx Stock Performance

NASDAQ ARGX opened at $617.49 on Tuesday. The firm’s fifty day moving average price is $567.51 and its two-hundred day moving average price is $499.76. The stock has a market cap of $37.28 billion, a PE ratio of -701.69 and a beta of 0.61. argenx SE has a fifty-two week low of $327.73 and a fifty-two week high of $622.32.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The business had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. During the same quarter in the previous year, the company posted ($1.25) EPS. As a group, sell-side analysts predict that argenx SE will post 2.2 earnings per share for the current fiscal year.

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.