Cetera Investment Advisers Cuts Holdings in argenx SE (NASDAQ:ARGX)

Cetera Investment Advisers lowered its stake in argenx SE (NASDAQ:ARGX) by 3.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,773 shares of the company’s stock after selling 96 shares during the quarter. Cetera Investment Advisers’ holdings in argenx were worth $1,193,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in argenx by 26.2% during the fourth quarter. Wellington Management Group LLP now owns 279,168 shares of the company’s stock valued at $106,204,000 after purchasing an additional 57,956 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of argenx by 15.4% during the first quarter. TD Asset Management Inc now owns 223,695 shares of the company’s stock valued at $88,073,000 after purchasing an additional 29,810 shares in the last quarter. Seven Eight Capital LP raised its position in shares of argenx by 66.4% in the 1st quarter. Seven Eight Capital LP now owns 3,110 shares of the company’s stock worth $1,224,000 after acquiring an additional 1,241 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of argenx by 36.5% during the first quarter. Clearbridge Investments LLC now owns 596,277 shares of the company’s stock valued at $234,766,000 after buying an additional 159,480 shares during the last quarter. Finally, FORA Capital LLC purchased a new position in argenx during the 1st quarter worth $2,024,000. Hedge funds and other institutional investors own 60.32% of the company’s stock.

argenx Stock Down 0.8 %

NASDAQ:ARGX opened at $540.61 on Thursday. argenx SE has a twelve month low of $327.73 and a twelve month high of $554.74. The stock’s 50 day moving average price is $530.80 and its two-hundred day moving average price is $451.66. The firm has a market capitalization of $32.13 billion, a price-to-earnings ratio of -95.51 and a beta of 0.63.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, July 25th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of ($0.89) by $1.34. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. The firm had revenue of $489.43 million during the quarter, compared to the consensus estimate of $436.66 million. During the same quarter in the previous year, the firm earned ($1.69) earnings per share. As a group, analysts anticipate that argenx SE will post -0.37 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ARGX shares. Truist Financial lifted their target price on argenx from $480.00 to $540.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. HC Wainwright raised their price target on shares of argenx from $504.00 to $533.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Piper Sandler upped their price objective on shares of argenx from $522.00 to $535.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. Stifel Nicolaus boosted their price target on shares of argenx from $485.00 to $500.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, Wedbush lifted their target price on argenx from $519.00 to $560.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, argenx has a consensus rating of “Moderate Buy” and an average target price of $548.00.

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.