Cinctive Capital Management LP Has $3.70 Million Stock Position in argenx SE (NASDAQ:ARGX)

Cinctive Capital Management LP boosted its position in argenx SE (NASDAQ:ARGX) by 76.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,016 shares of the company’s stock after buying an additional 2,598 shares during the quarter. Cinctive Capital Management LP’s holdings in argenx were worth $3,700,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Stifel Financial Corp increased its stake in shares of argenx by 15.3% in the third quarter. Stifel Financial Corp now owns 8,832 shares of the company’s stock worth $4,788,000 after purchasing an additional 1,170 shares during the period. Stephens Inc. AR acquired a new stake in argenx in the 4th quarter valued at approximately $310,000. Ritholtz Wealth Management increased its position in argenx by 85.5% in the 4th quarter. Ritholtz Wealth Management now owns 898 shares of the company’s stock worth $552,000 after buying an additional 414 shares during the period. MML Investors Services LLC lifted its holdings in shares of argenx by 16.9% during the third quarter. MML Investors Services LLC now owns 8,699 shares of the company’s stock worth $4,715,000 after buying an additional 1,255 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of argenx in the third quarter valued at approximately $652,000. Institutional investors own 60.32% of the company’s stock.

argenx Stock Up 2.9 %

Shares of ARGX opened at $583.62 on Thursday. The stock’s fifty day simple moving average is $624.55 and its 200-day simple moving average is $602.58. The firm has a market capitalization of $35.46 billion, a PE ratio of -663.20 and a beta of 0.60. argenx SE has a 12-month low of $352.77 and a 12-month high of $678.21.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, February 27th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $0.98 by $0.60. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The company had revenue of $761.22 million during the quarter, compared to analysts’ expectations of $678.52 million. Analysts anticipate that argenx SE will post 3.13 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Guggenheim boosted their target price on shares of argenx from $775.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Oppenheimer boosted their price objective on shares of argenx from $675.00 to $704.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. William Blair reiterated an “outperform” rating on shares of argenx in a research note on Friday, February 28th. Wells Fargo & Company upped their price target on argenx from $723.00 to $741.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft raised argenx from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $687.00.

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.