Erste Asset Management GmbH Invests $9.01 Million in argenx SE (NASDAQ:ARGX)

Erste Asset Management GmbH acquired a new position in argenx SE (NASDAQ:ARGX - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 16,800 shares of the company's stock, valued at approximately $9,007,000.

Other institutional investors have also added to or reduced their stakes in the company. Captrust Financial Advisors bought a new stake in shares of argenx during the third quarter valued at approximately $243,000. Hantz Financial Services Inc. raised its stake in shares of argenx by 8.9% during the third quarter. Hantz Financial Services Inc. now owns 528 shares of the company's stock valued at $286,000 after acquiring an additional 43 shares in the last quarter. Alkeon Capital Management LLC increased its holdings in argenx by 15.0% during the third quarter. Alkeon Capital Management LLC now owns 345,000 shares of the company's stock valued at $187,018,000 after buying an additional 45,000 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in argenx by 4,344.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,842 shares of the company's stock valued at $22,140,000 after buying an additional 39,923 shares during the period. Finally, Acuta Capital Partners LLC increased its holdings in argenx by 47.5% during the third quarter. Acuta Capital Partners LLC now owns 5,900 shares of the company's stock valued at $3,198,000 after buying an additional 1,900 shares during the period. Institutional investors own 60.32% of the company's stock.

argenx Stock Performance

argenx stock traded up $1.20 during midday trading on Monday, hitting $617.75. 124,249 shares of the company's stock were exchanged, compared to its average volume of 309,634. argenx SE has a 12-month low of $327.73 and a 12-month high of $620.28. The stock has a market cap of $37.29 billion, a price-to-earnings ratio of -700.63 and a beta of 0.61. The firm's 50 day simple moving average is $565.73 and its 200 day simple moving average is $498.07.

argenx (NASDAQ:ARGX - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping the consensus estimate 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 company had revenue of $588.88 million during the quarter, compared to analysts' expectations of $543.29 million. During the same quarter last year, the business earned ($1.25) EPS. On average, equities research analysts forecast that argenx SE will post 2.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. William Blair raised shares of argenx from a "market perform" rating to an "outperform" rating in a report on Friday, November 1st. HC Wainwright reiterated a "buy" rating and set a $617.00 price objective on shares of argenx in a research note on Wednesday, November 20th. Baird R W downgraded shares of argenx from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price objective on shares of argenx from $640.00 to $670.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of argenx from a "buy" rating to a "hold" rating in a research note on Friday, October 4th. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $630.42.

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.