Perpetual Ltd Sells 19,866 Shares of argenx SE (NASDAQ:ARGX)

Perpetual Ltd reduced its holdings in shares of argenx SE (NASDAQ:ARGX) by 14.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,914 shares of the company’s stock after selling 19,866 shares during the quarter. Perpetual Ltd owned approximately 0.20% of argenx worth $74,362,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ARGX. Point72 Hong Kong Ltd acquired a new stake in shares of argenx in the second quarter valued at about $76,000. Cromwell Holdings LLC increased its position in shares of argenx by 73.3% during the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock worth $85,000 after purchasing an additional 66 shares during the last quarter. GAMMA Investing LLC increased its position in shares of argenx by 47.5% during the 3rd quarter. GAMMA Investing LLC now owns 174 shares of the company’s stock worth $94,000 after purchasing an additional 56 shares during the last quarter. Blue Trust Inc. raised its stake in shares of argenx by 413.9% during the 3rd quarter. Blue Trust Inc. now owns 370 shares of the company’s stock worth $201,000 after purchasing an additional 298 shares in the last quarter. Finally, Keudell Morrison Wealth Management acquired a new stake in shares of argenx in the 3rd quarter valued at approximately $207,000. 60.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ARGX shares. Evercore ISI boosted their target price on shares of argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Wedbush restated an “outperform” rating and set a $655.00 price objective on shares of argenx in a research note on Tuesday, December 3rd. Truist Financial reiterated a “buy” rating and issued a $700.00 target price (up from $660.00) on shares of argenx in a research note on Tuesday, January 14th. Oppenheimer reissued an “outperform” rating and set a $675.00 price target (up previously from $646.00) on shares of argenx in a research report on Thursday, November 21st. Finally, Baird R W cut argenx from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $658.39.

argenx Price Performance

NASDAQ ARGX opened at $640.52 on Tuesday. The firm has a 50-day moving average price of $621.22 and a two-hundred day moving average price of $558.80. argenx SE has a 12-month low of $349.86 and a 12-month high of $678.21.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, beating 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 business had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same period in the previous year, the company posted ($1.25) earnings per share. On average, research analysts predict that argenx SE will post 2.51 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.