Polymer Capital Management HK LTD Has $3.58 Million Stock Position in argenx SE (NASDAQ:ARGX)

Polymer Capital Management HK LTD lessened its stake in argenx SE (NASDAQ:ARGX) by 34.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,600 shares of the company’s stock after selling 3,400 shares during the quarter. Polymer Capital Management HK LTD’s holdings in argenx were worth $3,578,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ARGX. FMR LLC lifted its stake in argenx by 35.9% in the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after acquiring an additional 1,265,486 shares during the last quarter. Perpetual Ltd acquired a new stake in argenx in the 3rd quarter valued at about $76,314,000. Logos Global Management LP bought a new position in argenx during the second quarter worth about $58,055,000. Sei Investments Co. grew its holdings in argenx by 15.2% during the second quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock worth $164,079,000 after purchasing an additional 50,477 shares during the period. Finally, Tri Locum Partners LP increased 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 worth $32,063,000 after buying an additional 46,577 shares during the last quarter. 60.32% of the stock is owned by institutional investors.

argenx Price Performance

Shares of argenx stock opened at $606.47 on Wednesday. The company’s 50 day moving average price is $569.24 and its two-hundred day moving average price is $501.46. The firm has a market capitalization of $36.61 billion, a P/E ratio of -689.17 and a beta of 0.59. argenx SE has a fifty-two week low of $327.73 and a fifty-two week high of $622.32.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data 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. The business had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. During the same quarter in the previous year, the company posted ($1.25) EPS. On average, analysts expect that argenx SE will post 2.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ARGX has been the subject of a number of research reports. Piper Sandler raised their target price on shares of argenx from $553.00 to $620.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Guggenheim boosted their price objective on argenx from $585.00 to $665.00 and gave the stock a “buy” rating in a report on Friday, November 1st. JMP Securities boosted their price target on argenx from $497.00 to $606.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. Truist Financial upped their price objective on argenx from $540.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Wolfe Research raised argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 target price for the company in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $635.42.

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.