First Turn Management LLC Reduces Stake in argenx SE (NASDAQ:ARGX)

First Turn Management LLC cut its position in argenx SE (NASDAQ:ARGX - Free Report) by 31.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,440 shares of the company's stock after selling 25,538 shares during the quarter. argenx comprises 4.7% of First Turn Management LLC's investment portfolio, making the stock its 2nd biggest position. First Turn Management LLC owned about 0.09% of argenx worth $29,511,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ARGX. Blue Trust Inc. boosted its stake in argenx by 620.0% during the second quarter. Blue Trust Inc. now owns 72 shares of the company's stock valued at $28,000 after buying an additional 62 shares during the period. J.Safra Asset Management Corp boosted its position in shares of argenx by 590.0% during the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company's stock valued at $30,000 after acquiring an additional 59 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of argenx by 51.3% during the second quarter. GAMMA Investing LLC now owns 118 shares of the company's stock worth $51,000 after purchasing an additional 40 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of argenx in the second quarter worth approximately $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 last quarter. 60.32% of the stock is owned by institutional investors.

argenx Stock Performance

ARGX stock traded up $6.64 on Tuesday, reaching $574.54. The company's stock had a trading volume of 357,482 shares, compared to its average volume of 309,141. The firm has a market cap of $34.36 billion, a PE ratio of -652.89 and a beta of 0.61. The business has a fifty day simple moving average of $553.99 and a two-hundred day simple moving average of $485.19. argenx SE has a 12-month low of $327.73 and a 12-month high of $611.22.

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. The firm had revenue of $588.88 million during the quarter, compared to analyst estimates 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 prior year, the company earned ($1.25) EPS. As a group, research analysts anticipate that argenx SE will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on ARGX. Baird R W cut shares of argenx from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 1st. HC Wainwright upped their target price on shares of argenx from $533.00 to $617.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Oppenheimer raised their price target on argenx from $560.00 to $646.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on argenx from $640.00 to $670.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. Finally, Raymond James reissued a "strong-buy" rating and set a $605.00 price objective on shares of argenx in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $619.79.

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.