argenx SE (NASDAQ:ARGX) Stake Lowered by AlphaCentric Advisors LLC

AlphaCentric Advisors LLC reduced its stake in argenx SE (NASDAQ:ARGX) by 37.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,500 shares of the company’s stock after selling 2,750 shares during the period. argenx makes up 1.8% of AlphaCentric Advisors LLC’s portfolio, making the stock its 8th biggest position. AlphaCentric Advisors LLC’s holdings in argenx were worth $2,439,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of ARGX. Price T Rowe Associates Inc. MD boosted its position in shares of argenx by 49.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company’s stock valued at $2,167,235,000 after buying an additional 1,830,651 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of argenx by 24.8% during the first quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock valued at $872,690,000 after buying an additional 439,889 shares during the last quarter. Avoro Capital Advisors LLC boosted its position in shares of argenx by 0.3% during the first quarter. Avoro Capital Advisors LLC now owns 1,238,467 shares of the company’s stock valued at $487,609,000 after buying an additional 3,900 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of argenx by 3.6% during the second quarter. Clearbridge Investments LLC now owns 617,466 shares of the company’s stock valued at $265,535,000 after buying an additional 21,189 shares during the last quarter. Finally, Sei Investments Co. boosted its position in shares of argenx by 15.2% during the second quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock valued at $164,079,000 after buying an additional 50,477 shares during the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on ARGX. Piper Sandler increased their price objective on argenx from $553.00 to $620.00 and gave the company an “overweight” rating in a research report on Friday. Wells Fargo & Company increased their target price on argenx from $547.00 to $639.00 and gave the company an “overweight” rating in a report on Friday. JPMorgan Chase & Co. increased their target price on argenx from $640.00 to $670.00 and gave the company an “overweight” rating in a report on Monday. Guggenheim increased their target price on argenx from $585.00 to $665.00 and gave the company a “buy” rating in a report on Friday. Finally, Barclays raised argenx from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, argenx presently has a consensus rating of “Moderate Buy” and a consensus price target of $615.50.

argenx Trading Down 1.2 %

NASDAQ:ARGX opened at $588.67 on Tuesday. argenx SE has a 12-month low of $327.73 and a 12-month high of $610.73. The stock has a 50-day moving average price of $539.46 and a 200 day moving average price of $467.19.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $543.29 million. During the same quarter last year, the business posted ($1.25) earnings per share. On average, equities research analysts anticipate that argenx SE will post -0.22 earnings per share for the current year.

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.