Truist Financial Corp Buys 505 Shares of argenx SE (NASDAQ:ARGX)

Truist Financial Corp lifted its holdings in shares of argenx SE (NASDAQ:ARGXGet Rating) by 77.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,158 shares of the company’s stock after buying an additional 505 shares during the period. Truist Financial Corp’s holdings in argenx were worth $409,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Wipfli Financial Advisors LLC acquired a new position in shares of argenx during the 3rd quarter worth $90,000. Raymond James & Associates raised its holdings in shares of argenx by 26.3% during the 3rd quarter. Raymond James & Associates now owns 5,560 shares of the company’s stock worth $1,963,000 after buying an additional 1,157 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of argenx by 39.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 9,486 shares of the company’s stock worth $3,349,000 after buying an additional 2,683 shares in the last quarter. Eqis Capital Management Inc. acquired a new position in shares of argenx during the 3rd quarter worth $1,177,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of argenx during the 3rd quarter worth $101,000. Institutional investors and hedge funds own 57.29% of the company’s stock.

argenx Price Performance

Shares of argenx stock opened at $382.52 on Wednesday. argenx SE has a one year low of $249.50 and a one year high of $407.93. The stock’s 50-day moving average is $383.07 and its 200 day moving average is $374.20. The firm has a market cap of $21.16 billion, a price-to-earnings ratio of -22.25 and a beta of 0.80.

argenx (NASDAQ:ARGXGet Rating) last announced its earnings results on Thursday, October 27th. The company reported ($4.26) EPS for the quarter, missing the consensus estimate of ($3.50) by ($0.76). argenx had a negative net margin of 295.08% and a negative return on equity of 66.04%. The business had revenue of $146.49 million for the quarter, compared to the consensus estimate of $115.49 million. On average, sell-side analysts expect that argenx SE will post -15.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ARGX. SVB Leerink upped their target price on argenx from $428.00 to $430.00 and gave the stock an “outperform” rating in a report on Friday, October 28th. Stifel Nicolaus upped their target price on argenx from $471.00 to $478.00 and gave the stock a “buy” rating in a report on Thursday, December 22nd. Oppenheimer began coverage on argenx in a report on Tuesday, October 11th. They issued a “market perform” rating for the company. HC Wainwright upped their target price on argenx from $440.00 to $480.00 and gave the stock a “buy” rating in a report on Tuesday, January 10th. Finally, William Blair began coverage on argenx in a report on Tuesday, December 6th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, argenx has an average rating of “Moderate Buy” and a consensus price target of $452.83.

argenx Company Profile

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argenx SE, a biotechnology company, focuses on developing various therapies for the treatment of autoimmune diseases in the United States, the Netherlands, Belgium, Japan, Switzerland, Germany and France. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, and chronic inflammatory demyelinating polyneuropathy in Phase III clinical trials; bullous pemphigoid and idiopathic inflammatory myopathy in Phase II/III clinical trials; and ENHANZE SC in Pre-clinical study.

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Institutional Ownership by Quarter for argenx (NASDAQ:ARGX)

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