Cynosure Group LLC Trims Stake in argenx SE (NASDAQ:ARGX)

Cynosure Group LLC lessened its holdings in shares of argenx SE (NASDAQ:ARGX) by 26.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,408 shares of the company’s stock after selling 499 shares during the quarter. Cynosure Group LLC’s holdings in argenx were worth $763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of ARGX. Finepoint Capital LP lifted its position in shares of argenx by 0.7% during the 3rd quarter. Finepoint Capital LP now owns 54,428 shares of the company’s stock valued at $29,504,000 after buying an additional 400 shares in the last quarter. FMR LLC grew its holdings in argenx by 35.9% during the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after buying an additional 1,265,486 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of argenx by 11.1% during the third quarter. The Manufacturers Life Insurance Company now owns 61,586 shares of the company’s stock valued at $33,385,000 after buying an additional 6,151 shares during the last quarter. Bank of Montreal Can boosted its position in shares of argenx by 9.4% during the third quarter. Bank of Montreal Can now owns 8,307 shares of the company’s stock worth $4,453,000 after acquiring an additional 714 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in argenx by 55.6% during the third quarter. Daiwa Securities Group Inc. now owns 1,315 shares of the company’s stock valued at $712,000 after acquiring an additional 470 shares in the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenx Stock Performance

Shares of NASDAQ:ARGX opened at $607.16 on Wednesday. argenx SE has a 52-week low of $327.73 and a 52-week high of $618.40. The business has a 50-day moving average price of $559.08 and a 200-day moving average price of $491.13.

argenx (NASDAQ:ARGX) last released 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 firm had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. During the same quarter in the prior year, the business earned ($1.25) earnings per share. Analysts forecast that argenx SE will post 2.2 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ARGX shares. Wells Fargo & Company boosted their price target on shares of argenx from $547.00 to $639.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Guggenheim boosted their price objective on argenx from $585.00 to $665.00 and gave the company a “buy” rating in a report on Friday, November 1st. Oppenheimer reiterated an “outperform” rating and set a $675.00 target price (up from $646.00) on shares of argenx in a research report on Thursday, November 21st. Raymond James restated a “strong-buy” rating and issued a $605.00 price target on shares of argenx in a report on Thursday, October 10th. Finally, Barclays upgraded shares of argenx from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $630.42.

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.