International Assets Investment Management LLC Purchases New Stake in argenx SE (NASDAQ:ARGX)

International Assets Investment Management LLC purchased a new stake in argenx SE (NASDAQ:ARGX) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 19,515 shares of the company’s stock, valued at approximately $105,790,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Blue Trust Inc. grew its position in argenx by 620.0% in the second quarter. Blue Trust Inc. now owns 72 shares of the company’s stock valued at $28,000 after acquiring an additional 62 shares during the last quarter. J.Safra Asset Management Corp grew its position in 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 during the last quarter. GAMMA Investing LLC grew its position in argenx by 51.3% in the second quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock valued at $51,000 after acquiring an additional 40 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in argenx in the second quarter valued at about $76,000. Finally, Toronto Dominion Bank grew its position in argenx by 16.5% in the first quarter. Toronto Dominion Bank now owns 303 shares of the company’s stock valued at $119,000 after acquiring an additional 43 shares during the last quarter. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenx Stock Performance

Shares of ARGX opened at $556.83 on Friday. argenx SE has a 52-week low of $327.73 and a 52-week high of $571.97. The business’s 50 day moving average price is $534.84 and its two-hundred day moving average price is $459.81. The firm has a market cap of $33.09 billion, a PE ratio of -98.38 and a beta of 0.63.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $489.43 million for the quarter, compared to analyst estimates of $436.66 million. During the same period in the prior year, the firm earned ($1.69) earnings per share. Research analysts predict that argenx SE will post -0.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ARGX. Oppenheimer upgraded argenx from a “market perform” rating to an “outperform” rating and set a $546.00 target price on the stock in a research report on Tuesday, July 23rd. Robert W. Baird boosted their price target on argenx from $490.00 to $515.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. HC Wainwright boosted their price target on argenx from $504.00 to $533.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Citigroup boosted their price target on argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft cut argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $550.44.

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.