argenx SE (NASDAQ:ARGX) Shares Sold by Armistice Capital LLC

Armistice Capital LLC trimmed its position in shares of argenx SE (NASDAQ:ARGX) by 24.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 200,000 shares of the company’s stock after selling 64,000 shares during the period. argenx comprises about 1.1% of Armistice Capital LLC’s portfolio, making the stock its 8th biggest position. Armistice Capital LLC owned 0.34% of argenx worth $86,008,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of argenx by 620.0% during the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after purchasing an additional 62 shares during the last quarter. J.Safra Asset Management Corp increased its holdings 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 acquiring an additional 59 shares during the last quarter. GAMMA Investing LLC raised its position in shares of argenx by 420.0% during the 1st quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock worth $31,000 after acquiring an additional 63 shares in the last quarter. Mather Group LLC. purchased a new stake in argenx during the first quarter worth approximately $38,000. Finally, Point72 Hong Kong Ltd acquired a new position in argenx in the second quarter valued at approximately $76,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on ARGX shares. Robert W. Baird boosted their price objective on shares of argenx from $490.00 to $515.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Wedbush boosted their price target on shares of argenx from $519.00 to $560.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. raised their price objective on argenx from $500.00 to $640.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Piper Sandler boosted their target price on argenx from $522.00 to $535.00 and gave the company an “overweight” rating in a report on Monday, June 24th. Finally, William Blair restated a “market perform” rating on shares of argenx in a research note on Monday, June 17th. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, argenx has a consensus rating of “Moderate Buy” and an average target price of $547.74.

argenx Stock Up 5.6 %

Shares of NASDAQ:ARGX opened at $549.01 on Thursday. The company has a market cap of $32.83 billion, a price-to-earnings ratio of -97.00 and a beta of 0.62. argenx SE has a fifty-two week low of $327.73 and a fifty-two week high of $554.74. The firm’s 50-day simple moving average is $516.59 and its 200-day simple moving average is $435.77.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $1.34. The company had revenue of $489.43 million for the quarter, compared to analyst estimates of $436.66 million. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. During the same quarter in the previous year, the company earned ($1.69) EPS. On average, research analysts forecast that argenx SE will post -0.37 EPS for the current 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.