argenx SE (NASDAQ:ARGX) Stake Reduced by Geode Capital Management LLC

Geode Capital Management LLC cut its holdings in argenx SE (NASDAQ:ARGX) by 1.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 26,749 shares of the company’s stock after selling 403 shares during the quarter. Geode Capital Management LLC’s holdings in argenx were worth $14,500,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. M&T Bank Corp raised its position in argenx by 7.2% in the third quarter. M&T Bank Corp now owns 4,307 shares of the company’s stock worth $2,335,000 after acquiring an additional 289 shares in the last quarter. MML Investors Services LLC raised its position in argenx by 16.9% in the third quarter. MML Investors Services LLC now owns 8,699 shares of the company’s stock worth $4,715,000 after acquiring an additional 1,255 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in argenx by 2.7% in the third quarter. Orion Portfolio Solutions LLC now owns 8,800 shares of the company’s stock worth $4,768,000 after acquiring an additional 234 shares in the last quarter. XTX Topco Ltd raised its position in argenx by 50.7% in the third quarter. XTX Topco Ltd now owns 5,030 shares of the company’s stock worth $2,727,000 after acquiring an additional 1,693 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in argenx by 13.0% in the third quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock worth $261,470,000 after acquiring an additional 55,617 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors.

argenx Stock Performance

Shares of NASDAQ ARGX opened at $619.96 on Tuesday. The stock has a market cap of $37.43 billion, a price-to-earnings ratio of -704.50 and a beta of 0.59. The business has a 50 day simple moving average of $599.42 and a 200 day simple moving average of $533.19. argenx SE has a 52 week low of $349.86 and a 52 week high of $644.97.

argenx (NASDAQ:ARGX) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $0.10 by $1.29. The business had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. During the same quarter in the previous year, the business posted ($1.25) EPS. On average, analysts predict that argenx SE will post 2.2 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. HC Wainwright restated a “buy” rating and set a $617.00 price objective on shares of argenx in a report on Wednesday, November 20th. Evercore ISI boosted their price objective on argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Raymond James restated a “strong-buy” rating and set a $605.00 price objective on shares of argenx in a report on Thursday, October 10th. Truist Financial boosted their price objective on argenx from $540.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Wolfe Research upgraded argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price objective on the stock in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $639.78.

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.