argenx SE (NASDAQ:ARGX) Shares Sold by AlphaCentric Advisors LLC

AlphaCentric Advisors LLC cut its holdings in argenx SE (NASDAQ:ARGX) by 9.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,250 shares of the company’s stock after selling 750 shares during the period. argenx makes up approximately 2.3% of AlphaCentric Advisors LLC’s investment portfolio, making the stock its 7th largest position. AlphaCentric Advisors LLC’s holdings in argenx were worth $3,118,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ARGX. Cerity Partners LLC lifted its position in shares of argenx by 124.5% during the 4th quarter. Cerity Partners LLC now owns 1,026 shares of the company’s stock valued at $390,000 after acquiring an additional 569 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in argenx by 68.8% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,750 shares of the company’s stock worth $666,000 after buying an additional 713 shares in the last quarter. Mackenzie Financial Corp grew its stake in argenx by 6.8% during the fourth quarter. Mackenzie Financial Corp now owns 1,863 shares of the company’s stock worth $709,000 after buying an additional 119 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in argenx by 2.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,530 shares of the company’s stock valued at $582,000 after buying an additional 41 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of argenx by 13.2% in the 4th quarter. Russell Investments Group Ltd. now owns 29,861 shares of the company’s stock valued at $11,360,000 after buying an additional 3,493 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

Wall Street Analyst Weigh In

ARGX has been the topic of several analyst reports. Morgan Stanley reduced their price target on shares of argenx from $515.00 to $510.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 28th. Bank of America reiterated a “buy” rating and issued a $607.00 target price (up previously from $535.00) on shares of argenx in a research report on Monday, June 24th. Robert W. Baird increased their target price on shares of argenx from $490.00 to $515.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. HC Wainwright lifted their price target on shares of argenx from $504.00 to $533.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Truist Financial increased their target price on argenx from $480.00 to $540.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, argenx currently has an average rating of “Moderate Buy” and a consensus target price of $547.74.

argenx Price Performance

Shares of NASDAQ:ARGX traded up $0.77 during trading on Monday, reaching $517.46. 110,726 shares of the stock were exchanged, compared to its average volume of 325,811. argenx SE has a 1-year low of $327.73 and a 1-year high of $540.49. The stock has a fifty day moving average of $472.59 and a two-hundred day moving average of $414.20. The firm has a market cap of $30.75 billion, a price-to-earnings ratio of -91.29 and a beta of 0.64.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $1.34. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. The firm had revenue of $489.43 million for the quarter, compared to analyst estimates of $436.66 million. During the same period last year, the firm earned ($1.69) earnings per share. Sell-side analysts forecast that argenx SE will post -0.48 EPS for the current year.

argenx 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.