abrdn plc Decreases Position in argenx SE (NASDAQ:ARGX)

abrdn plc lowered its position in argenx SE (NASDAQ:ARGX) by 26.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,262 shares of the company’s stock after selling 24,086 shares during the quarter. abrdn plc owned 0.11% of argenx worth $36,461,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cromwell Holdings LLC increased its stake in shares of argenx by 73.3% during the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock worth $85,000 after purchasing an additional 66 shares in the last quarter. Mediolanum International Funds Ltd increased its position in argenx by 49.5% during the third quarter. Mediolanum International Funds Ltd now owns 15,984 shares of the company’s stock worth $8,550,000 after buying an additional 5,290 shares in the last quarter. Ballentine Partners LLC acquired a new position in shares of argenx in the third quarter worth $239,000. Assenagon Asset Management S.A. purchased a new stake in shares of argenx in the third quarter valued at $15,609,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of argenx during the third quarter valued at $105,790,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

Analyst Ratings Changes

ARGX has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on shares of argenx from $543.00 to $547.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Robert W. Baird upped their price objective on shares of argenx from $490.00 to $515.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Truist Financial lifted their target price on shares of argenx from $480.00 to $540.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lowered argenx from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Finally, Oppenheimer upgraded argenx from a “market perform” rating to an “outperform” rating and set a $546.00 target price for the company in a research note on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, argenx presently has a consensus rating of “Moderate Buy” and an average target price of $550.44.

argenx Price Performance

Shares of ARGX opened at $551.71 on Thursday. argenx SE has a 12 month low of $327.73 and a 12 month high of $571.97. The stock has a market cap of $32.79 billion, a PE ratio of -97.48 and a beta of 0.63. The stock’s 50-day moving average is $536.03 and its two-hundred day moving average is $462.82.

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.