Eventide Asset Management LLC Has $58.65 Million Position in argenx SE (NASDAQ:ARGX)

Eventide Asset Management LLC trimmed its holdings in shares of argenx SE (NASDAQ:ARGX - Free Report) by 50.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 108,189 shares of the company's stock after selling 110,756 shares during the quarter. Eventide Asset Management LLC owned about 0.18% of argenx worth $58,647,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Blue Trust Inc. increased its holdings in shares of argenx by 620.0% during the second quarter. Blue Trust Inc. now owns 72 shares of the company's stock worth $28,000 after purchasing an additional 62 shares during the period. J.Safra Asset Management Corp increased its stake in argenx by 590.0% during the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company's stock worth $30,000 after acquiring an additional 59 shares during the period. GAMMA Investing LLC lifted its position in shares of argenx by 51.3% during the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company's stock valued at $51,000 after acquiring an additional 40 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of argenx during the 2nd quarter worth $76,000. Finally, Cromwell Holdings LLC increased its position in shares of argenx by 73.3% in the third quarter. Cromwell Holdings LLC now owns 156 shares of the company's stock worth $85,000 after purchasing an additional 66 shares during the period. Institutional investors and hedge funds own 60.32% of the company's stock.

Analyst Upgrades and Downgrades

ARGX has been the subject of several recent analyst reports. Oppenheimer reaffirmed an "outperform" rating and set a $675.00 price objective (up previously from $646.00) on shares of argenx in a research report on Thursday, November 21st. Truist Financial increased their price target on shares of argenx from $540.00 to $660.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Baird R W downgraded shares of argenx from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 1st. Barclays raised argenx from an "equal weight" rating to an "overweight" rating in a report on Tuesday, August 6th. Finally, Piper Sandler boosted their price target on argenx from $553.00 to $620.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $630.42.

argenx Stock Up 0.3 %

Shares of ARGX stock traded up $1.96 during trading hours on Friday, hitting $616.55. 190,007 shares of the company's stock traded hands, compared to its average volume of 310,467. The stock has a market cap of $37.22 billion, a PE ratio of -700.63 and a beta of 0.61. The stock's 50 day simple moving average is $565.73 and its 200 day simple moving average is $496.24. argenx SE has a 12 month low of $327.73 and a 12 month high of $620.28.

argenx (NASDAQ:ARGX - Get Free Report) last announced 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 business 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) EPS. As a group, equities research analysts expect that argenx SE will post 2.2 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.