Bellevue Group AG Trims Holdings in argenx SE (NASDAQ:ARGX)

Bellevue Group AG trimmed its holdings in argenx SE (NASDAQ:ARGX - Free Report) by 8.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 632,829 shares of the company's stock after selling 59,045 shares during the quarter. argenx accounts for about 5.6% of Bellevue Group AG's holdings, making the stock its biggest holding. Bellevue Group AG owned approximately 1.06% of argenx worth $343,044,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ARGX. Cetera Advisors LLC purchased a new stake in argenx during the 1st quarter valued at about $419,000. DekaBank Deutsche Girozentrale boosted its stake in shares of argenx by 1.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 8,445 shares of the company's stock valued at $3,320,000 after purchasing an additional 128 shares during the period. GAMMA Investing LLC grew 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 worth $51,000 after purchasing an additional 40 shares during the last quarter. Park Avenue Securities LLC increased its stake in shares of argenx by 7.2% in the second quarter. Park Avenue Securities LLC now owns 1,324 shares of the company's stock worth $569,000 after buying an additional 89 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of argenx by 10.4% in the second quarter. SG Americas Securities LLC now owns 2,999 shares of the company's stock worth $1,290,000 after buying an additional 283 shares during the period. Hedge funds and other institutional investors own 60.32% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ARGX. HC Wainwright reissued a "buy" rating and set a $617.00 price target on shares of argenx in a research report on Wednesday, November 20th. JPMorgan Chase & Co. increased their target price on shares of argenx from $640.00 to $670.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. Citigroup boosted their price target on argenx from $512.00 to $635.00 and gave the company a "buy" rating in a report on Thursday, October 17th. William Blair upgraded argenx from a "market perform" rating to an "outperform" rating in a report on Friday, November 1st. Finally, Oppenheimer reiterated an "outperform" rating and issued a $675.00 price objective (up from $646.00) on shares of argenx in a research report 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $630.42.

argenx Stock Up 0.3 %

Shares of NASDAQ ARGX traded up $1.96 on Friday, reaching $616.55. 190,007 shares of the company's stock traded hands, compared to its average volume of 321,592. The company has a market cap of $37.22 billion, a price-to-earnings ratio of -700.63 and a beta of 0.61. argenx SE has a 12 month low of $327.73 and a 12 month high of $620.28. The business's 50 day simple moving average is $565.73 and its two-hundred day simple moving average is $497.22.

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

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.