Verition Fund Management LLC Sells 10,062 Shares of argenx SE (NASDAQ:ARGX)

Verition Fund Management LLC lowered its position in argenx SE (NASDAQ:ARGX - Free Report) by 62.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 5,968 shares of the company's stock after selling 10,062 shares during the period. Verition Fund Management LLC's holdings in argenx were worth $3,235,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Cetera Advisors LLC bought a new position in shares of argenx in the first quarter valued at $419,000. GAMMA Investing LLC raised its holdings in shares of argenx by 51.3% in the second quarter. GAMMA Investing LLC now owns 118 shares of the company's stock valued at $51,000 after purchasing an additional 40 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of argenx by 7.2% during the second quarter. Park Avenue Securities LLC now owns 1,324 shares of the company's stock valued at $569,000 after purchasing an additional 89 shares in the last quarter. SG Americas Securities LLC grew its position in argenx by 10.4% in the 2nd quarter. SG Americas Securities LLC now owns 2,999 shares of the company's stock worth $1,290,000 after purchasing an additional 283 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of argenx by 3.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,713 shares of the company's stock worth $737,000 after buying an additional 52 shares during the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

argenx Stock Down 0.3 %

ARGX traded down $1.97 during trading on Thursday, reaching $622.99. The stock had a trading volume of 104,827 shares, compared to its average volume of 309,323. The business has a 50-day moving average of $570.76 and a 200-day moving average of $502.32. argenx SE has a one year low of $327.73 and a one year high of $630.00.

argenx (NASDAQ:ARGX - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $588.88 million during the quarter, compared to the consensus estimate of $543.29 million. During the same quarter in the previous year, the company posted ($1.25) EPS. As a group, research analysts expect that argenx SE will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ARGX shares. JMP Securities boosted their price objective on argenx from $497.00 to $606.00 and gave the stock a "market outperform" rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on shares of argenx from $640.00 to $670.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. HC Wainwright reissued a "buy" rating and set a $617.00 price objective on shares of argenx in a report on Wednesday, November 20th. Wolfe Research upgraded shares of argenx from a "peer perform" rating to an "outperform" rating and set a $697.00 target price for the company in a research report on Tuesday, November 12th. Finally, Scotiabank upgraded shares of argenx from a "sector perform" rating to a "sector outperform" rating and upped their price target for the company from $439.00 to $715.00 in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, argenx has an average rating of "Moderate Buy" and a consensus price target of $635.42.

argenx 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.