Integrated Wealth Concepts LLC Sells 26 Shares of argenx SE (NASDAQ:ARGX)

Integrated Wealth Concepts LLC trimmed its position in argenx SE (NASDAQ:ARGX) by 4.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 568 shares of the company’s stock after selling 26 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in argenx were worth $308,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its stake in argenx by 35.9% in the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock worth $2,598,445,000 after buying an additional 1,265,486 shares in the last quarter. Perpetual Ltd purchased a new stake in shares of argenx during the third quarter valued at about $76,314,000. Logos Global Management LP purchased a new position in shares of argenx in the 2nd quarter worth approximately $58,055,000. Sei Investments Co. raised its stake in shares of argenx by 15.2% during the 2nd quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock worth $164,079,000 after acquiring an additional 50,477 shares in the last quarter. Finally, Tri Locum Partners LP lifted its position in argenx by 166.5% during the second quarter. Tri Locum Partners LP now owns 74,558 shares of the company’s stock valued at $32,063,000 after acquiring an additional 46,577 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Baird R W cut argenx from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Scotiabank upgraded shares of argenx from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $439.00 to $715.00 in a research note on Tuesday, November 5th. Wells Fargo & Company raised their target price on argenx from $547.00 to $639.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Wedbush reissued an “outperform” rating and issued a $655.00 price objective on shares of argenx in a report on Tuesday, December 3rd. Finally, Evercore ISI lifted their price objective on argenx from $675.00 to $706.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $635.11.

argenx Stock Performance

argenx stock opened at $603.40 on Friday. The company’s 50 day simple moving average is $579.49 and its 200-day simple moving average is $511.82. argenx SE has a 1 year low of $327.73 and a 1 year high of $630.00. The company has a market capitalization of $36.43 billion, a price-to-earnings ratio of -685.68 and a beta of 0.59.

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

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.