Cynosure Group LLC Lowers Holdings in argenx SE (NASDAQ:ARGX)

Cynosure Group LLC lessened its stake in argenx SE (NASDAQ:ARGX) by 27.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,017 shares of the company’s stock after selling 391 shares during the quarter. Cynosure Group LLC’s holdings in argenx were worth $625,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in argenx in the fourth quarter valued at approximately $37,000. Global Retirement Partners LLC lifted its stake in shares of argenx by 369.2% in the 4th quarter. Global Retirement Partners LLC now owns 61 shares of the company’s stock valued at $38,000 after purchasing an additional 48 shares during the period. Jones Financial Companies Lllp boosted its holdings in argenx by 1,016.7% during the fourth quarter. Jones Financial Companies Lllp now owns 67 shares of the company’s stock worth $41,000 after buying an additional 61 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in argenx by 78.6% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 75 shares of the company’s stock valued at $46,000 after buying an additional 33 shares during the period. Finally, Huntington National Bank increased its holdings in argenx by 1,133.3% in the fourth quarter. Huntington National Bank now owns 74 shares of the company’s stock valued at $46,000 after buying an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

argenx Trading Down 4.2 %

argenx stock opened at $567.09 on Wednesday. The company has a fifty day simple moving average of $625.68 and a 200-day simple moving average of $602.71. The stock has a market cap of $34.46 billion, a P/E ratio of -644.42 and a beta of 0.59. argenx SE has a 12-month low of $352.77 and a 12-month high of $678.21.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.60. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The business had revenue of $761.22 million during the quarter, compared to analysts’ expectations of $678.52 million. As a group, sell-side analysts forecast that argenx SE will post 3.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. HC Wainwright raised their target price on argenx from $717.00 to $720.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Citigroup reissued an “outperform” rating on shares of argenx in a report on Friday, February 28th. Sanford C. Bernstein upgraded argenx from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th. Piper Sandler boosted their price target on shares of argenx from $620.00 to $725.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Finally, Robert W. Baird upped their price objective on shares of argenx from $650.00 to $680.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $687.00.

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.