Cinctive Capital Management LP cut its holdings in shares of argenx SE (NASDAQ:ARGX - Free Report) by 50.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,418 shares of the company's stock after selling 3,463 shares during the period. Cinctive Capital Management LP's holdings in argenx were worth $1,853,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Blue Trust Inc. lifted its position in argenx by 620.0% during the second quarter. Blue Trust Inc. now owns 72 shares of the company's stock worth $28,000 after acquiring an additional 62 shares during the last quarter. J.Safra Asset Management Corp increased its position in shares of argenx by 590.0% during the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company's stock worth $30,000 after acquiring an additional 59 shares in the last quarter. GAMMA Investing LLC grew 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 purchased a new stake in shares of argenx during the 2nd quarter valued at approximately $76,000. Finally, Cromwell Holdings LLC lifted its stake in argenx by 73.3% in the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company's stock worth $85,000 after purchasing an additional 66 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company's stock.
argenx Trading Up 3.0 %
ARGX traded up $18.49 during trading on Wednesday, hitting $624.96. 288,256 shares of the company's stock traded hands, compared to its average volume of 310,225. argenx SE has a 12-month low of $327.73 and a 12-month high of $626.00. The company's 50 day simple moving average is $569.24 and its two-hundred day simple moving average is $501.46. The stock has a market capitalization of $37.73 billion, a price-to-earnings ratio of -705.94 and a beta of 0.59.
argenx (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $1.29. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The firm had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. During the same period in the previous year, the company earned ($1.25) earnings per share. On average, equities analysts expect that argenx SE will post 2.2 EPS for the current year.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on ARGX shares. Raymond James reissued a "strong-buy" rating and set a $605.00 price objective on shares of argenx in a research note on Thursday, October 10th. Baird R W cut shares of argenx from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their target price on shares of argenx from $640.00 to $670.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Evercore ISI increased their price target on shares of argenx from $675.00 to $706.00 and gave the company an "outperform" rating in a research note on Thursday, November 21st. Finally, HC Wainwright reiterated a "buy" rating and set a $617.00 price objective on shares of argenx in a research report on Wednesday, November 20th. Three investment 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, argenx currently has a consensus rating of "Moderate Buy" and a consensus price target of $635.42.
Read Our Latest Stock Report on argenx
About argenx
(
Free Report)
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.
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