QVT Financial LP Sells 16,000 Shares of argenx SE (NASDAQ:ARGX)

QVT Financial LP lowered its position in argenx SE (NASDAQ:ARGX) by 49.2% during the 4th quarter, Holdings Channel reports. The fund owned 16,498 shares of the company’s stock after selling 16,000 shares during the period. argenx makes up 0.9% of QVT Financial LP’s portfolio, making the stock its 15th largest holding. QVT Financial LP’s holdings in argenx were worth $10,146,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of argenx during the 3rd quarter valued at $652,000. Lord Abbett & CO. LLC bought a new position in shares of argenx in the third quarter worth $88,339,000. GAMMA Investing LLC raised its stake in argenx by 44.8% in the fourth quarter. GAMMA Investing LLC now owns 252 shares of the company’s stock valued at $155,000 after purchasing an additional 78 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of argenx during the 4th quarter valued at $615,000. Finally, Fulton Bank N.A. purchased a new position in shares of argenx in the 4th quarter worth about $226,000. Institutional investors own 60.32% of the company’s stock.

argenx Price Performance

Shares of NASDAQ ARGX opened at $614.76 on Friday. The business has a 50-day moving average of $598.28 and a two-hundred day moving average of $607.83. argenx SE has a 1 year low of $352.77 and a 1 year high of $678.21. The company has a market capitalization of $37.54 billion, a price-to-earnings ratio of -698.59 and a beta of 0.60.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JMP Securities lifted their price objective on argenx from $606.00 to $696.00 and gave the stock a “market outperform” rating in a report on Tuesday, January 14th. Wedbush reissued an “outperform” rating and issued a $715.00 target price on shares of argenx in a research report on Friday, April 11th. Sanford C. Bernstein raised argenx from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Oppenheimer lifted their price target on shares of argenx from $675.00 to $704.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Finally, HC Wainwright reissued a “buy” rating and issued a $720.00 target price on shares of argenx in a research report on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, argenx has a consensus rating of “Moderate Buy” and an average target price of $699.28.

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.