Polymer Capital Management HK LTD Has $3.58 Million Stake in argenx SE (NASDAQ:ARGX)

Polymer Capital Management HK LTD cut its stake in shares of argenx SE (NASDAQ:ARGX) by 34.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,600 shares of the company’s stock after selling 3,400 shares during the quarter. Polymer Capital Management HK LTD’s holdings in argenx were worth $3,578,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its stake in shares of argenx by 35.9% in the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock worth $2,598,445,000 after acquiring an additional 1,265,486 shares during the period. Fiera Capital Corp boosted its stake in shares of argenx by 2.2% in the 2nd quarter. Fiera Capital Corp now owns 165,595 shares of the company’s stock valued at $71,212,000 after purchasing an additional 3,506 shares during the last quarter. Cetera Advisors LLC bought a new position in argenx during the first quarter worth $419,000. Simplify Asset Management Inc. lifted its holdings in argenx by 64.0% in the third quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock valued at $1,311,000 after buying an additional 944 shares during the period. Finally, Perpetual Ltd bought a new stake in argenx during the third quarter valued at $76,314,000. Institutional investors own 60.32% of the company’s stock.

argenx Trading Down 1.8 %

Shares of ARGX stock opened at $606.47 on Wednesday. The firm’s 50 day moving average is $569.24 and its 200 day moving average is $501.46. The stock has a market capitalization of $36.61 billion, a P/E ratio of -689.17 and a beta of 0.59. argenx SE has a 12 month low of $327.73 and a 12 month high of $622.32.

argenx (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.39 EPS 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 firm had revenue of $588.88 million during the quarter, compared to analyst estimates of $543.29 million. During the same period last year, the company earned ($1.25) earnings per share. On average, equities analysts predict that argenx SE will post 2.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ARGX. Truist Financial lifted their price objective on argenx from $540.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Evercore ISI raised their price objective on shares of argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. HC Wainwright reiterated a “buy” rating and set a $617.00 target price on shares of argenx in a research report on Wednesday, November 20th. Wedbush restated an “outperform” rating and issued a $655.00 price target on shares of argenx in a report on Tuesday. Finally, William Blair upgraded shares of argenx from a “market perform” rating to an “outperform” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $635.42.

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.