argenx SE (NASDAQ:ARGX) Stake Decreased by Evolutionary Tree Capital Management LLC

Evolutionary Tree Capital Management LLC reduced its stake in argenx SE (NASDAQ:ARGX) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,943 shares of the company’s stock after selling 214 shares during the period. argenx accounts for approximately 2.5% of Evolutionary Tree Capital Management LLC’s holdings, making the stock its 19th biggest position. Evolutionary Tree Capital Management LLC’s holdings in argenx were worth $2,425,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in shares of argenx by 28.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,459 shares of the company’s stock worth $1,875,000 after purchasing an additional 768 shares during the period. Captrust Financial Advisors acquired a new position in argenx during the 3rd quarter valued at $243,000. HighTower Advisors LLC grew its holdings in shares of argenx by 11.7% during the 3rd quarter. HighTower Advisors LLC now owns 4,671 shares of the company’s stock worth $2,558,000 after purchasing an additional 489 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of argenx by 18.9% in the 3rd quarter. Quantinno Capital Management LP now owns 2,524 shares of the company’s stock valued at $1,368,000 after buying an additional 402 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in argenx by 15.3% in the 3rd quarter. Stifel Financial Corp now owns 8,832 shares of the company’s stock valued at $4,788,000 after buying an additional 1,170 shares in the last quarter. Institutional investors own 60.32% of the company’s stock.

Wall Street Analyst Weigh In

ARGX has been the topic of a number of research reports. Citigroup reiterated an “outperform” rating on shares of argenx in a research report on Friday, February 28th. Sanford C. Bernstein upgraded argenx from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Wedbush reaffirmed an “outperform” rating and issued a $715.00 price objective on shares of argenx in a research report on Friday. Deutsche Bank Aktiengesellschaft raised shares of argenx from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th. Finally, Guggenheim lifted their target price on argenx from $775.00 to $1,100.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, argenx has a consensus rating of “Moderate Buy” and an average price target of $690.33.

argenx Price Performance

ARGX opened at $580.94 on Friday. argenx SE has a fifty-two week low of $352.77 and a fifty-two week high of $678.21. The company’s 50-day moving average is $607.87 and its 200 day moving average is $603.90. The firm has a market capitalization of $35.30 billion, a P/E ratio of -660.16 and a beta of 0.60.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, February 27th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.60. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The business had revenue of $761.22 million during the quarter, compared to analyst estimates of $678.52 million. On average, equities research analysts expect that argenx SE will post 3.13 earnings per share for the current year.

About argenx

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.