Eaton Vance Management Reduces Position in argenx SE (NASDAQ:ARGX)

Eaton Vance Management cut its stake in shares of argenx SE (NASDAQ:ARGX) by 12.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 358,011 shares of the company’s stock after selling 48,889 shares during the period. Eaton Vance Management owned 0.70% of argenx worth $98,593,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of argenx by 4.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,146 shares of the company’s stock valued at $316,000 after buying an additional 44 shares during the period. IFP Advisors Inc increased its position in shares of argenx by 15.1% during the first quarter. IFP Advisors Inc now owns 404 shares of the company’s stock valued at $112,000 after buying an additional 53 shares during the period. Truist Financial Corp increased its position in shares of argenx by 3.1% in the fourth quarter. Truist Financial Corp now owns 2,095 shares of the company’s stock worth $616,000 after purchasing an additional 63 shares during the last quarter. Bank of Montreal Can increased its position in shares of argenx by 75.3% in the first quarter. Bank of Montreal Can now owns 156 shares of the company’s stock worth $44,000 after purchasing an additional 67 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. increased its position in shares of argenx by 2.9% in the first quarter. Vestmark Advisory Solutions Inc. now owns 2,454 shares of the company’s stock worth $676,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 55.57% of the company’s stock.

Several research firms recently weighed in on ARGX. Kepler Capital Markets cut shares of argenx to a “hold” rating in a research report on Sunday, May 16th. Redburn Partners began coverage on shares of argenx in a research report on Friday, April 23rd. They set a “neutral” rating on the stock. Piper Sandler reduced their price target on shares of argenx from $309.00 to $250.00 and set a “neutral” rating on the stock in a research report on Monday, June 7th. Wedbush increased their price target on shares of argenx from $344.00 to $362.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Morgan Stanley increased their price target on shares of argenx from $321.00 to $324.00 and gave the company an “overweight” rating in a research report on Tuesday, May 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $331.50.

Shares of ARGX stock opened at $319.00 on Thursday. The business has a fifty day simple moving average of $296.12. argenx SE has a 52 week low of $212.66 and a 52 week high of $382.15. The stock has a market capitalization of $16.37 billion, a price-to-earnings ratio of -26.32 and a beta of 0.92.

argenx (NASDAQ:ARGX) last announced its quarterly earnings results on Friday, May 14th. The company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($3.14) by $2.33. argenx had a negative return on equity of 50.37% and a negative net margin of 298.93%. The company had revenue of $167.42 million during the quarter, compared to analyst estimates of $39.04 million. Sell-side analysts forecast that argenx SE will post -12.98 EPS for the current fiscal year.

argenx Profile

argenx SE is a clinical-stage biotechnology company, which engages in the development of antibody-based therapies for the treatment of autoimmune diseases and cancer. Its products include ARGX-113 for the treatment of autoimmune disease myasthenia gravis and ARGX-110 for the treatment of hematological cancer acute myeloid leukemia.

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Institutional Ownership by Quarter for argenx (NASDAQ:ARGX)

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