Ritholtz Wealth Management Acquires 414 Shares of argenx SE (NASDAQ:ARGX)

Ritholtz Wealth Management boosted its stake in shares of argenx SE (NASDAQ:ARGX) by 85.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 898 shares of the company’s stock after acquiring an additional 414 shares during the quarter. Ritholtz Wealth Management’s holdings in argenx were worth $552,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Stifel Financial Corp lifted its position in shares of argenx by 15.3% during the third quarter. Stifel Financial Corp now owns 8,832 shares of the company’s stock worth $4,788,000 after purchasing an additional 1,170 shares in the last quarter. FMR LLC raised its position in argenx by 35.9% in 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 last quarter. Simplify Asset Management Inc. lifted its holdings 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 buying an additional 944 shares in the last quarter. Perpetual Ltd bought a new position in argenx in the 3rd quarter valued at $76,314,000. Finally, Logos Global Management LP acquired a new stake in shares of argenx in the 2nd quarter valued at $58,055,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenx Stock Down 2.9 %

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

argenx (NASDAQ:ARGX) last announced its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $543.29 million. During the same period in the prior year, the business earned ($1.25) EPS. Equities analysts anticipate that argenx SE will post 2.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ARGX shares. JPMorgan Chase & Co. raised their price target on argenx from $640.00 to $670.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Baird R W lowered shares of argenx from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Scotiabank upgraded shares of argenx from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $439.00 to $715.00 in a research report on Tuesday, November 5th. Oppenheimer restated an “outperform” rating and issued a $675.00 price objective (up from $646.00) on shares of argenx in a report on Thursday, November 21st. Finally, Robert W. Baird lowered shares of argenx from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $515.00 to $650.00 in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, argenx has an average rating of “Moderate Buy” and an average target price of $658.39.

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.