AlphaCentric Advisors LLC Has $2.44 Million Stock Position in argenx SE (NASDAQ:ARGX)

AlphaCentric Advisors LLC cut its stake in argenx SE (NASDAQ:ARGX - Free Report) by 37.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,500 shares of the company's stock after selling 2,750 shares during the period. argenx accounts for about 1.8% of AlphaCentric Advisors LLC's portfolio, making the stock its 8th largest position. AlphaCentric Advisors LLC's holdings in argenx were worth $2,439,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. TD Asset Management Inc raised its holdings in shares of argenx by 15.4% during the first quarter. TD Asset Management Inc now owns 223,695 shares of the company's stock valued at $88,073,000 after acquiring an additional 29,810 shares during the last quarter. Seven Eight Capital LP lifted its position in argenx by 66.4% in the first quarter. Seven Eight Capital LP now owns 3,110 shares of the company's stock valued at $1,224,000 after buying an additional 1,241 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of argenx by 36.5% during the 1st quarter. Clearbridge Investments LLC now owns 596,277 shares of the company's stock worth $234,766,000 after purchasing an additional 159,480 shares during the period. Mediolanum International Funds Ltd acquired a new stake in shares of argenx in the first quarter valued at $4,570,000. Finally, Fiera Capital Corp increased its stake in argenx by 2.2% during the second quarter. Fiera Capital Corp now owns 165,595 shares of the company's stock worth $71,212,000 after purchasing an additional 3,506 shares during the period. 60.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Guggenheim lifted their price target on shares of argenx from $585.00 to $665.00 and gave the stock a "buy" rating in a research note on Friday. JPMorgan Chase & Co. boosted their price target on shares of argenx from $640.00 to $670.00 and gave the company an "overweight" rating in a research report on Monday. Citigroup increased their price objective 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 research report on Friday. Finally, Baird R W downgraded shares of argenx from a "strong-buy" rating to a "hold" rating in a research report on Friday. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $615.50.

argenx Price Performance

ARGX traded up $13.80 during trading hours on Tuesday, hitting $602.47. 245,180 shares of the stock were exchanged, compared to its average volume of 308,604. The stock has a market cap of $36.03 billion, a price-to-earnings ratio of -676.82 and a beta of 0.61. argenx SE has a 12 month low of $327.73 and a 12 month high of $611.22. The stock has a 50-day simple moving average of $540.89 and a 200-day simple moving average of $468.81.

argenx (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $588.88 million during the quarter, compared to analyst estimates of $543.29 million. During the same period last year, the company posted ($1.25) EPS. Sell-side analysts expect that argenx SE will post -0.22 EPS for the current year.

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.