Alliancebernstein L.P. Sells 1,324 Shares of argenx SE (NASDAQ:ARGX)

Alliancebernstein L.P. cut its stake in shares of argenx SE (NASDAQ:ARGX - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,290 shares of the company's stock after selling 1,324 shares during the quarter. Alliancebernstein L.P.'s holdings in argenx were worth $12,478,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of argenx by 28.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,459 shares of the company's stock valued at $1,875,000 after buying an additional 768 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of argenx in the third quarter worth about $243,000. HighTower Advisors LLC grew its position in shares of argenx by 11.7% during the third quarter. HighTower Advisors LLC now owns 4,671 shares of the company's stock worth $2,558,000 after purchasing an additional 489 shares in the last quarter. Quantinno Capital Management LP raised its stake in argenx by 18.9% during the 3rd quarter. Quantinno Capital Management LP now owns 2,524 shares of the company's stock valued at $1,368,000 after purchasing an additional 402 shares during the period. Finally, Stifel Financial Corp lifted its holdings in argenx by 15.3% in the 3rd 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 in the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Ratings Changes

ARGX has been the subject of a number of research analyst reports. Sanford C. Bernstein raised shares of argenx from a "market perform" rating to an "outperform" rating in a report on Monday, March 17th. Citigroup reiterated an "outperform" rating on shares of argenx in a report on Friday, February 28th. Piper Sandler increased their price objective on shares of argenx from $620.00 to $725.00 and gave the company an "overweight" rating in a report on Tuesday, January 7th. Wedbush reaffirmed an "outperform" rating and issued a $715.00 target price on shares of argenx in a report on Friday. Finally, Truist Financial restated a "buy" rating and set a $700.00 price target (up previously from $660.00) on shares of argenx in a report on Tuesday, January 14th. Three 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's stock. According to data from MarketBeat, argenx has a consensus rating of "Moderate Buy" and a consensus price target of $690.33.

argenx Stock Down 1.1 %

ARGX traded down $6.77 during trading hours on Tuesday, reaching $599.62. 243,010 shares of the company's stock traded hands, compared to its average volume of 307,957. The firm has a market capitalization of $36.43 billion, a PE ratio of -681.41 and a beta of 0.60. argenx SE has a 52-week low of $352.77 and a 52-week high of $678.21. The firm has a 50-day moving average price of $606.57 and a 200 day moving average price of $604.95.

argenx (NASDAQ:ARGX - Get Free Report) last posted 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. The company had revenue of $761.22 million for the quarter, compared to the consensus estimate of $678.52 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. Equities analysts predict that argenx SE will post 3.13 EPS for the current fiscal 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.