Van ECK Associates Corp Sells 12,580 Shares of argenx SE (NASDAQ:ARGX)

Van ECK Associates Corp trimmed its stake in shares of argenx SE (NASDAQ:ARGX) by 24.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,241 shares of the company’s stock after selling 12,580 shares during the quarter. Van ECK Associates Corp owned 0.06% of argenx worth $21,335,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Blue Trust Inc. boosted its holdings in shares of argenx by 620.0% in the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after purchasing an additional 62 shares in the last quarter. J.Safra Asset Management Corp lifted its stake in shares of argenx by 590.0% in the 2nd quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock valued at $30,000 after purchasing an additional 59 shares during the period. GAMMA Investing LLC grew its position in shares of argenx by 51.3% in the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after buying an additional 40 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of argenx during the second quarter valued at approximately $76,000. Finally, Cromwell Holdings LLC grew its stake in shares of argenx by 73.3% in the third quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock worth $85,000 after acquiring an additional 66 shares during the last quarter. 60.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ARGX has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of argenx from $640.00 to $670.00 and gave the company an “overweight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft cut shares of argenx from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Oppenheimer upped their target price on shares of argenx from $560.00 to $646.00 and gave the company an “outperform” rating in a research note on Friday. Baird R W cut shares of argenx from a “strong-buy” rating to a “hold” rating in a research note on Friday. Finally, Wells Fargo & Company raised their target price on shares of argenx from $547.00 to $639.00 and gave the stock an “overweight” rating in a research note on Friday. Five 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. According to data from MarketBeat.com, argenx presently has a consensus rating of “Moderate Buy” and a consensus price target of $598.44.

argenx Stock Performance

ARGX opened at $588.67 on Tuesday. The business’s fifty day moving average is $539.46 and its two-hundred day moving average is $467.19. The company has a market cap of $35.20 billion, a price-to-earnings ratio of -668.94 and a beta of 0.61. argenx SE has a one year low of $327.73 and a one year high of $610.73.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $1.29. argenx had a negative return on equity of 0.96% and a negative net margin of 2.11%. The business had revenue of $588.88 million for the quarter, compared to the consensus estimate of $543.29 million. During the same period in the prior year, the business earned ($1.25) earnings per share. On average, analysts predict that argenx SE will post -0.36 EPS for the current fiscal year.

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.