HighVista Strategies LLC Cuts Stock Holdings in argenx SE (NASDAQ:ARGX)

HighVista Strategies LLC reduced its position in shares of argenx SE (NASDAQ:ARGX) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,604 shares of the company’s stock after selling 141 shares during the period. argenx accounts for about 1.0% of HighVista Strategies LLC’s holdings, making the stock its 21st biggest position. HighVista Strategies LLC’s holdings in argenx were worth $2,840,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Profund Advisors LLC increased its holdings in argenx by 3.0% during the second quarter. Profund Advisors LLC now owns 973 shares of the company’s stock worth $418,000 after buying an additional 28 shares during the last quarter. Wealth Alliance raised its holdings in shares of argenx by 4.8% in the 2nd quarter. Wealth Alliance now owns 628 shares of the company’s stock worth $270,000 after purchasing an additional 29 shares during the period. Lindbrook Capital LLC lifted its stake in argenx by 23.1% in the first quarter. Lindbrook Capital LLC now owns 197 shares of the company’s stock valued at $78,000 after purchasing an additional 37 shares during the last quarter. Wahed Invest LLC increased its position in argenx by 9.6% in the fourth quarter. Wahed Invest LLC now owns 457 shares of the company’s stock worth $174,000 after buying an additional 40 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of 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 buying an additional 40 shares during the period. Hedge funds and other institutional investors own 60.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Guggenheim boosted their price objective on argenx from $545.00 to $585.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Evercore ISI lifted their price target on argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Wells Fargo & Company boosted their price objective on argenx from $543.00 to $547.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft upgraded argenx from a “hold” rating to a “buy” rating in a research note on Thursday, July 25th. Finally, William Blair reiterated a “market perform” rating on shares of argenx in a research report on Monday, June 17th. Three investment 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $547.74.

argenx Price Performance

Shares of ARGX stock opened at $533.00 on Monday. The business has a 50-day moving average of $512.59 and a 200 day moving average of $433.06. The stock has a market capitalization of $31.68 billion, a PE ratio of -94.17 and a beta of 0.62. argenx SE has a 1-year low of $327.73 and a 1-year high of $554.74.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $1.34. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. The firm had revenue of $489.43 million for the quarter, compared to analysts’ expectations of $436.66 million. During the same quarter last year, the business earned ($1.69) earnings per share. Analysts anticipate that argenx SE will post -0.37 EPS for the current year.

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.