Valence8 US LP Invests $517,000 in argenx SE (NASDAQ:ARGX)

Valence8 US LP acquired a new position in argenx SE (NASDAQ:ARGX - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 953 shares of the company's stock, valued at approximately $517,000. argenx makes up 0.2% of Valence8 US LP's investment portfolio, making the stock its 20th biggest holding.

Several other institutional investors have also recently modified their holdings of ARGX. O Shaughnessy Asset Management LLC lifted its stake in argenx by 32.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,460 shares of the company's stock worth $575,000 after purchasing an additional 361 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of argenx by 79.3% in the first quarter. Advisors Asset Management Inc. now owns 588 shares of the company's stock worth $232,000 after buying an additional 260 shares during the period. Toronto Dominion Bank lifted its stake in shares of argenx by 16.5% in the 1st quarter. Toronto Dominion Bank now owns 303 shares of the company's stock valued at $119,000 after acquiring an additional 43 shares during the last quarter. Avoro Capital Advisors LLC boosted its holdings in argenx by 0.3% during the 1st quarter. Avoro Capital Advisors LLC now owns 1,238,467 shares of the company's stock valued at $487,609,000 after acquiring an additional 3,900 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in argenx by 49.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company's stock worth $2,167,235,000 after acquiring an additional 1,830,651 shares during the last quarter. 60.32% of the stock is currently owned by institutional investors.

argenx Stock Performance

Shares of ARGX traded up $13.17 during trading hours on Friday, hitting $609.91. The company had a trading volume of 293,642 shares, compared to its average volume of 310,004. argenx SE has a 52-week low of $327.73 and a 52-week high of $611.22. The firm has a fifty day moving average price of $555.08 and a 200-day moving average price of $485.94. The stock has a market capitalization of $36.47 billion, a price-to-earnings ratio of -682.21 and a beta of 0.61.

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, beating the consensus estimate of $0.10 by $1.29. The business had revenue of $588.88 million for the quarter, compared to analysts' expectations 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 period in the prior year, the firm posted ($1.25) EPS. Research analysts anticipate that argenx SE will post 2.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ARGX. Scotiabank raised argenx from a "sector perform" rating to a "sector outperform" rating and increased their price objective for the company from $439.00 to $715.00 in a research note on Tuesday, November 5th. Citigroup increased their price target on shares of argenx from $512.00 to $635.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Wells Fargo & Company upped their price objective on shares of argenx from $547.00 to $639.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. JMP Securities raised their target price on argenx from $497.00 to $606.00 and gave the stock a "market outperform" rating in a research note on Friday, November 1st. Finally, Piper Sandler boosted their price target on argenx from $553.00 to $620.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $630.42.

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.