Park Avenue Securities LLC Grows Stock Position in argenx SE (NASDAQ:ARGX)

Park Avenue Securities LLC raised its holdings in argenx SE (NASDAQ:ARGX) by 40.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,695 shares of the company’s stock after buying an additional 484 shares during the period. Park Avenue Securities LLC’s holdings in argenx were worth $1,042,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Stifel Financial Corp lifted its holdings in shares of 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 purchasing an additional 1,170 shares during the last quarter. FMR LLC increased its position in argenx by 35.9% during the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company’s stock worth $2,598,445,000 after purchasing an additional 1,265,486 shares during the period. Simplify Asset Management Inc. increased its position in argenx by 64.0% during the 3rd quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock worth $1,311,000 after purchasing an additional 944 shares during the period. Perpetual Ltd acquired a new stake in shares of argenx in the 3rd quarter worth approximately $76,314,000. Finally, Logos Global Management LP acquired a new stake in shares of argenx in the 2nd quarter worth approximately $58,055,000. 60.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ARGX. Robert W. Baird cut argenx from an “outperform” rating to a “neutral” rating and increased their target price for the company from $515.00 to $650.00 in a report on Friday, November 1st. William Blair raised argenx from a “market perform” rating to an “outperform” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft lowered argenx from a “hold” rating to a “sell” rating in a research report on Friday. Piper Sandler increased their target price on argenx from $620.00 to $725.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Finally, Citigroup increased their target price on argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $658.39.

argenx Price Performance

Shares of argenx stock opened at $640.52 on Tuesday. The business has a 50-day moving average of $621.22 and a 200-day moving average of $558.80. The company has a market capitalization of $38.67 billion, a PE ratio of -727.86 and a beta of 0.59. argenx SE has a 1-year low of $349.86 and a 1-year high of $678.21.

argenx (NASDAQ:ARGX) last announced its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $0.10 by $1.29. The company had revenue of $588.88 million during the quarter, compared to the consensus estimate of $543.29 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. During the same period last year, the firm earned ($1.25) earnings per share. On average, equities analysts expect that argenx SE will post 2.17 earnings per share for the current fiscal 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.