Holocene Advisors LP Cuts Stock Position in argenx SE (NASDAQ:ARGX)

Holocene Advisors LP lowered its holdings in shares of argenx SE (NASDAQ:ARGX) by 54.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 195,104 shares of the company’s stock after selling 230,510 shares during the quarter. Holocene Advisors LP’s holdings in argenx were worth $105,762,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ARGX. FMR LLC lifted its holdings in shares of argenx by 35.9% in the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after acquiring an additional 1,265,486 shares during the last quarter. Clearbridge Investments LLC boosted its position in argenx by 3.6% in the 2nd quarter. Clearbridge Investments LLC now owns 617,466 shares of the company’s stock valued at $265,535,000 after buying an additional 21,189 shares during the period. Sei Investments Co. grew its holdings in argenx by 15.2% during the 2nd quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock worth $164,079,000 after acquiring an additional 50,477 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. Finally, Jennison Associates LLC raised its position in shares of argenx by 0.6% in the 3rd quarter. Jennison Associates LLC now owns 237,966 shares of the company’s stock worth $128,997,000 after acquiring an additional 1,528 shares in the last quarter. Institutional investors own 60.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Evercore ISI raised their target price on argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Scotiabank upgraded argenx from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $439.00 to $715.00 in a research report on Tuesday, November 5th. Robert W. Baird lowered shares of argenx from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $515.00 to $650.00 in a research report on Friday, November 1st. Barclays upgraded shares of argenx from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, August 6th. Finally, Wells Fargo & Company upped their price target on argenx from $547.00 to $639.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $630.42.

argenx Trading Up 0.3 %

ARGX stock opened at $616.55 on Monday. The company’s 50 day moving average is $565.73 and its two-hundred day moving average is $498.07. argenx SE has a twelve month low of $327.73 and a twelve month high of $620.28. The stock has a market cap of $37.22 billion, a P/E ratio of -700.63 and a beta of 0.61.

argenx (NASDAQ:ARGX) last released its quarterly 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 return on equity of 1.45% and a negative net margin of 2.11%. The company had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. During the same quarter in the previous year, the company posted ($1.25) earnings per share. On average, equities research analysts predict that argenx SE will post 2.2 earnings per share 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.