Acuta Capital Partners LLC Increases Stake in argenx SE (NASDAQ:ARGX)

Acuta Capital Partners LLC boosted its holdings in shares of argenx SE (NASDAQ:ARGX - Free Report) by 47.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,900 shares of the company's stock after purchasing an additional 1,900 shares during the period. argenx comprises approximately 2.6% of Acuta Capital Partners LLC's investment portfolio, making the stock its 16th biggest holding. Acuta Capital Partners LLC's holdings in argenx were worth $3,198,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Fiera Capital Corp grew its holdings in argenx by 2.2% during the second quarter. Fiera Capital Corp now owns 165,595 shares of the company's stock worth $71,212,000 after acquiring an additional 3,506 shares during the period. Cetera Advisors LLC acquired a new stake in shares of argenx during the 1st quarter worth approximately $419,000. Simplify Asset Management Inc. grew its stake in shares of argenx by 64.0% during the 3rd quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company's stock worth $1,311,000 after purchasing an additional 944 shares during the period. FMR LLC increased its holdings in shares of argenx by 35.9% during the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company's stock valued at $2,598,445,000 after purchasing an additional 1,265,486 shares in the last quarter. Finally, Perpetual Ltd acquired a new position in shares of argenx in the 3rd quarter valued at $76,314,000. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenx Trading Up 1.2 %

ARGX traded up $7.43 on Thursday, hitting $614.59. The company had a trading volume of 405,338 shares, compared to its average volume of 310,991. The company's fifty day moving average price is $562.49 and its 200 day moving average price is $493.62. argenx SE has a 1 year low of $327.73 and a 1 year high of $620.28. The firm has a market cap of $37.10 billion, a P/E ratio of -698.40 and a beta of 0.61.

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

Wall Street Analysts Forecast Growth

ARGX has been the topic of several analyst reports. Scotiabank upgraded shares of argenx from a "sector perform" rating to a "sector outperform" rating and raised their price target for the company from $439.00 to $715.00 in a research report on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price on argenx from $640.00 to $670.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Piper Sandler increased their price target on argenx from $553.00 to $620.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. JMP Securities boosted their price objective on argenx from $497.00 to $606.00 and gave the company a "market outperform" rating in a research report on Friday, November 1st. Finally, Evercore ISI upped their target price on argenx from $675.00 to $706.00 and gave the stock an "outperform" rating in a research note on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $630.42.

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.