Braidwell LP Sells 70,200 Shares of argenx SE (NASDAQ:ARGX)

Braidwell LP reduced its position in shares of argenx SE (NASDAQ:ARGX) by 42.1% during the third quarter, Holdings Channel reports. The institutional investor owned 96,724 shares of the company’s stock after selling 70,200 shares during the period. argenx comprises about 1.5% of Braidwell LP’s portfolio, making the stock its 26th largest holding. Braidwell LP’s holdings in argenx were worth $52,432,000 as of its most recent filing with the SEC.

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

argenx Stock Up 1.2 %

Shares of argenx stock opened at $614.59 on Friday. argenx SE has a 52-week low of $327.73 and a 52-week high of $620.28. The company has a 50 day moving average of $564.06 and a 200 day moving average of $494.46. The company has a market capitalization of $37.10 billion, a P/E ratio of -698.40 and a beta of 0.61.

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. Truist Financial raised their target price on argenx from $540.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company increased their price objective on shares of argenx from $547.00 to $639.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Citigroup increased their price target on shares of argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Wolfe Research raised shares of argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price objective for the company in a research note on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft cut shares of argenx from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $630.42.

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.