argenx SE (NASDAQ:ARGX) Shares Sold by Verition Fund Management LLC

Posted by on Jun 13th, 2023

Verition Fund Management LLC trimmed its holdings in shares of argenx SE (NASDAQ:ARGX – Get Rating) by 38.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,233 shares of the company’s stock after selling 7,764 shares during the quarter. Verition Fund Management LLC’s holdings in argenx were worth $4,634,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ARGX. Goldman Sachs Group Inc. grew its position in argenx by 62.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 334,169 shares of the company’s stock valued at $105,366,000 after acquiring an additional 128,759 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of argenx by 1,043.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 135,219 shares of the company’s stock worth $51,225,000 after buying an additional 123,392 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of argenx during the third quarter worth about $35,741,000. Lord Abbett & CO. LLC grew its position in shares of argenx by 28.4% during the third quarter. Lord Abbett & CO. LLC now owns 375,835 shares of the company’s stock worth $132,689,000 after buying an additional 83,084 shares in the last quarter. Finally, Capital World Investors grew its position in shares of argenx by 12.0% during the first quarter. Capital World Investors now owns 739,392 shares of the company’s stock worth $233,138,000 after buying an additional 79,119 shares in the last quarter. 57.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ARGX has been the subject of a number of analyst reports. 888 reissued a “maintains” rating on shares of argenx in a research report on Friday, May 5th. SVB Securities boosted their target price on argenx from $430.00 to $435.00 in a research note on Friday, March 3rd. Citigroup started coverage on argenx in a research note on Tuesday, April 25th. They set a “buy” rating and a $450.00 target price for the company. SVB Leerink boosted their target price on argenx from $430.00 to $435.00 and gave the stock an “outperform” rating in a research note on Friday, March 3rd. Finally, Truist Financial boosted their target price on argenx from $420.00 to $440.00 in a research note on Friday, May 5th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $455.67.

argenx Stock Up 1.8 %

Shares of NASDAQ ARGX opened at $397.78 on Tuesday. argenx SE has a 52-week low of $321.31 and a 52-week high of $423.99. The stock has a market capitalization of $22.15 billion, a price-to-earnings ratio of -42.82 and a beta of 0.74. The stock’s fifty day simple moving average is $394.15 and its 200 day simple moving average is $381.38.

argenx (NASDAQ:ARGX – Get Rating) last issued its quarterly earnings results on Thursday, May 4th. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.34) by $1.82. The business had revenue of $229.76 million for the quarter, compared to the consensus estimate of $191.24 million. argenx had a negative return on equity of 35.36% and a negative net margin of 79.45%. As a group, analysts anticipate that argenx SE will post -6.33 earnings per share for the current year.

argenx Profile

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argenx SE operates as a global immunology company committed to improving the lives of people suffering from severe autoimmune diseases. It operates from the Netherlands, Belgium, the United States of America, Japan, Switzerland, Germany and France. The firm partnering with academic researchers through its Immunology Innovation Program (IIP), argenx aims to translate immunology breakthroughs into a world-class portfolio of novel antibody-based medicines.

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Institutional Ownership by Quarter for argenx (NASDAQ:ARGX)

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