Victory Capital Management Inc. Sells 190 Shares of argenx SE (NASDAQ:ARGX)

Victory Capital Management Inc. reduced its stake in argenx SE (NASDAQ:ARGX) by 17.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 920 shares of the company’s stock after selling 190 shares during the period. Victory Capital Management Inc.’s holdings in argenx were worth $396,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ARGX. Wellington Management Group LLP lifted its stake in shares of argenx by 26.2% in the 4th quarter. Wellington Management Group LLP now owns 279,168 shares of the company’s stock valued at $106,204,000 after purchasing an additional 57,956 shares during the period. Sectoral Asset Management Inc. boosted its holdings in shares of argenx by 717.2% during the 4th quarter. Sectoral Asset Management Inc. now owns 10,027 shares of the company’s stock valued at $3,815,000 after buying an additional 8,800 shares in the last quarter. Boxer Capital LLC grew its position in shares of argenx by 88.2% in the 4th quarter. Boxer Capital LLC now owns 160,000 shares of the company’s stock worth $60,869,000 after buying an additional 75,000 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of argenx by 9.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 47,583 shares of the company’s stock worth $18,102,000 after acquiring an additional 3,967 shares in the last quarter. Finally, Altitude Crest Partners Inc. purchased a new position in argenx during the 4th quarter valued at about $11,223,000. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenx Stock Down 0.8 %

Shares of NASDAQ:ARGX opened at $528.50 on Tuesday. The firm’s 50 day moving average price is $513.92 and its 200-day moving average price is $434.04. The stock has a market capitalization of $31.41 billion, a PE ratio of -93.37 and a beta of 0.62. argenx SE has a twelve month low of $327.73 and a twelve month high of $554.74.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ARGX. Stifel Nicolaus raised their target price on shares of argenx from $485.00 to $500.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Robert W. Baird lifted their price objective on argenx from $490.00 to $515.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Truist Financial increased their target price on argenx from $480.00 to $540.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Piper Sandler lifted their price target on argenx from $522.00 to $535.00 and gave the stock an “overweight” rating in a research report on Monday, June 24th. Finally, Evercore ISI increased their price objective on shares of argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $547.74.

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.