argenx SE (NASDAQ:ARGX) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC boosted its holdings in argenx SE (NASDAQ:ARGX) by 20.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,235 shares of the company’s stock after buying an additional 212 shares during the period. Park Avenue Securities LLC’s holdings in argenx were worth $486,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ARGX. Capital World Investors boosted its stake in argenx by 37.0% in the 4th quarter. Capital World Investors now owns 1,961,202 shares of the company’s stock worth $746,099,000 after buying an additional 530,181 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in argenx by 12.2% in the 4th quarter. Artisan Partners Limited Partnership now owns 3,174,477 shares of the company’s stock worth $1,207,666,000 after buying an additional 346,178 shares during the last quarter. Avoro Capital Advisors LLC boosted its stake in argenx by 23.5% in the 4th quarter. Avoro Capital Advisors LLC now owns 1,234,567 shares of the company’s stock worth $469,666,000 after buying an additional 234,567 shares during the last quarter. RTW Investments LP boosted its stake in argenx by 31.5% in the 4th quarter. RTW Investments LP now owns 667,195 shares of the company’s stock worth $253,821,000 after buying an additional 160,000 shares during the last quarter. Finally, Braidwell LP acquired a new stake in argenx in the 4th quarter worth about $58,283,000. 60.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ARGX shares. JMP Securities decreased their price target on argenx from $471.00 to $468.00 and set a “market outperform” rating on the stock in a research note on Friday, May 10th. Wells Fargo & Company lifted their price objective on argenx from $478.00 to $542.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. JPMorgan Chase & Co. reduced their price objective on argenx from $560.00 to $500.00 and set an “overweight” rating on the stock in a research note on Monday, May 13th. Stifel Nicolaus lifted their price objective on argenx from $485.00 to $500.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Robert W. Baird reduced their price objective on argenx from $505.00 to $490.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $525.42.

argenx Stock Down 3.3 %

Shares of ARGX opened at $430.04 on Friday. The business’s 50 day moving average is $382.97 and its two-hundred day moving average is $387.13. argenx SE has a 52-week low of $327.73 and a 52-week high of $550.76. The firm has a market cap of $25.56 billion, a price-to-earnings ratio of -75.98 and a beta of 0.65.

argenx (NASDAQ:ARGX) last announced its earnings results on Monday, May 13th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.33). argenx had a negative net margin of 22.58% and a negative return on equity of 14.14%. The business had revenue of $412.51 million during the quarter, compared to analyst estimates of $404.03 million. During the same period in the previous year, the company earned ($0.52) earnings per share. On average, equities analysts expect that argenx SE will post -2.88 earnings per share for the current fiscal year.

argenx 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.