AlphaCentric Advisors LLC Has $2.44 Million Stock Holdings in argenx SE (NASDAQ:ARGX)

AlphaCentric Advisors LLC cut its holdings in argenx SE (NASDAQ:ARGX) by 37.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,500 shares of the company’s stock after selling 2,750 shares during the period. argenx comprises approximately 1.8% of AlphaCentric Advisors LLC’s holdings, making the stock its 8th biggest position. AlphaCentric Advisors LLC’s holdings in argenx were worth $2,439,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Blue Trust Inc. boosted its stake in argenx by 620.0% during the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock valued at $28,000 after purchasing an additional 62 shares during the period. J.Safra Asset Management Corp raised 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 worth $30,000 after purchasing an additional 59 shares in the last quarter. GAMMA Investing LLC raised its holdings 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 purchasing an additional 40 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of argenx in the 2nd quarter worth approximately $76,000. Finally, Cromwell Holdings LLC raised its holdings in shares of argenx by 73.3% in the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock worth $85,000 after purchasing an additional 66 shares in the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

argenx Price Performance

Shares of NASDAQ ARGX opened at $588.67 on Tuesday. argenx SE has a 12 month low of $327.73 and a 12 month high of $610.73. The business has a 50-day moving average of $539.46 and a 200-day moving average of $467.19.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping 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 company had revenue of $588.88 million during the quarter, compared to the consensus estimate of $543.29 million. During the same quarter in the previous year, the company posted ($1.25) EPS. Analysts predict that argenx SE will post -0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Truist Financial boosted their target price on shares of argenx from $540.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price target on shares of argenx from $640.00 to $670.00 and gave the company an “overweight” rating in a report on Monday. William Blair upgraded shares of argenx from a “market perform” rating to an “outperform” rating in a report on Friday. Citigroup boosted their price target on shares of argenx from $512.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Raymond James restated a “strong-buy” rating and set a $605.00 price target on shares of argenx in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $615.50.

argenx Company 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.