First Turn Management LLC Sells 25,538 Shares of argenx SE (NASDAQ:ARGX)

First Turn Management LLC lowered its stake in shares of argenx SE (NASDAQ:ARGX) by 31.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,440 shares of the company’s stock after selling 25,538 shares during the period. argenx makes up 4.7% of First Turn Management LLC’s portfolio, making the stock its 2nd biggest position. First Turn Management LLC owned approximately 0.09% of argenx worth $29,511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans boosted its holdings in argenx by 1.5% during the third quarter. Thrivent Financial for Lutherans now owns 37,352 shares of the company’s stock worth $20,248,000 after buying an additional 564 shares during the last quarter. Natixis Advisors LLC boosted its holdings in argenx by 13.0% during the third quarter. Natixis Advisors LLC now owns 12,014 shares of the company’s stock worth $6,513,000 after buying an additional 1,379 shares during the last quarter. Simplify Asset Management Inc. boosted its holdings in argenx by 64.0% during the third quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock worth $1,311,000 after buying an additional 944 shares during the last quarter. OneDigital Investment Advisors LLC boosted its holdings in argenx by 13.2% during the third quarter. OneDigital Investment Advisors LLC now owns 1,194 shares of the company’s stock worth $647,000 after buying an additional 139 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in shares of argenx during the 3rd quarter valued at about $453,000. Institutional investors own 60.32% of the company’s stock.

argenx Trading Up 0.7 %

Shares of NASDAQ ARGX opened at $567.90 on Tuesday. argenx SE has a 12 month low of $327.73 and a 12 month high of $611.22. The stock has a 50 day moving average of $553.20 and a 200-day moving average of $483.88. The company has a market capitalization of $33.96 billion, a P/E ratio of -645.34 and a beta of 0.61.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the company posted ($1.25) EPS. Analysts predict that argenx SE will post 2.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Truist Financial lifted 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. JMP Securities lifted their price objective on argenx from $497.00 to $606.00 and gave the company a “market outperform” rating in a report on Friday, November 1st. Barclays upgraded argenx from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 6th. Wells Fargo & Company lifted their price objective on argenx from $547.00 to $639.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Scotiabank raised argenx from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $439.00 to $715.00 in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $619.79.

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.