Simplify Asset Management Inc. Has $1.31 Million Stake in argenx SE (NASDAQ:ARGX)

Simplify Asset Management Inc. increased its position in argenx SE (NASDAQ:ARGX) by 64.0% in the third quarter, HoldingsChannel reports. The firm owned 2,419 shares of the company’s stock after acquiring an additional 944 shares during the period. Simplify Asset Management Inc.’s holdings in argenx were worth $1,311,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Seven Eight Capital LP lifted its position in argenx by 66.4% during the 1st quarter. Seven Eight Capital LP now owns 3,110 shares of the company’s stock worth $1,224,000 after acquiring an additional 1,241 shares during the last quarter. Clearbridge Investments LLC lifted its position in argenx by 36.5% during the 1st quarter. Clearbridge Investments LLC now owns 596,277 shares of the company’s stock worth $234,766,000 after acquiring an additional 159,480 shares during the last quarter. Fiera Capital Corp lifted its position in argenx by 2.2% during the 2nd quarter. Fiera Capital Corp now owns 165,595 shares of the company’s stock worth $71,212,000 after acquiring an additional 3,506 shares during the last quarter. Cetera Advisors LLC acquired a new position in argenx during the 1st quarter worth $419,000. Finally, Perpetual Ltd acquired a new position in argenx during the 3rd quarter worth $76,314,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ARGX. Raymond James reaffirmed a “strong-buy” rating and set a $605.00 price objective on shares of argenx in a research report on Thursday, October 10th. Piper Sandler upped their price objective on shares of argenx from $553.00 to $620.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. HC Wainwright upped their price objective on shares of argenx from $533.00 to $617.00 and gave the company a “buy” rating in a research report on Friday, November 1st. JMP Securities increased their price target on shares of argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Finally, Scotiabank raised shares of argenx from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $439.00 to $715.00 in a research report on Tuesday, November 5th. Three 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $619.79.

argenx Price Performance

ARGX stock traded down $25.87 during midday trading on Friday, reaching $569.17. The company’s stock had a trading volume of 175,393 shares, compared to its average volume of 307,122. argenx SE has a 52 week low of $327.73 and a 52 week high of $611.22. The business’s 50-day simple moving average is $552.45 and its 200-day simple moving average is $479.91.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The firm had revenue of $588.88 million for the quarter, compared to analysts’ expectations of $543.29 million. During the same period last year, the firm earned ($1.25) earnings per share. As a group, analysts forecast that argenx SE will post 2.2 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.