Victory Capital Management Inc. Trims Stock Position in argenx SE (NASDAQ:ARGX)

Victory Capital Management Inc. cut its position in shares of argenx SE (NASDAQ:ARGX) by 60.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 610 shares of the company’s stock after selling 952 shares during the period. Victory Capital Management Inc.’s holdings in argenx were worth $375,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ARGX. Natixis Advisors LLC raised its stake in argenx by 13.0% during the third quarter. Natixis Advisors LLC now owns 12,014 shares of the company’s stock worth $6,513,000 after purchasing an additional 1,379 shares during the period. Advisors Asset Management Inc. raised its stake in argenx by 15.3% during the third quarter. Advisors Asset Management Inc. now owns 927 shares of the company’s stock worth $503,000 after purchasing an additional 123 shares during the period. Charles Schwab Investment Management Inc. raised its stake in argenx by 28.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,459 shares of the company’s stock worth $1,875,000 after purchasing an additional 768 shares during the period. Raymond James Trust N.A. raised its stake in shares of argenx by 6.0% in the 3rd quarter. Raymond James Trust N.A. now owns 495 shares of the company’s stock valued at $268,000 after acquiring an additional 28 shares during the period. Finally, Cerity Partners LLC raised its stake in shares of argenx by 20.4% in the 3rd quarter. Cerity Partners LLC now owns 3,273 shares of the company’s stock valued at $1,774,000 after acquiring an additional 555 shares during the period. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenx Stock Up 0.3 %

NASDAQ ARGX opened at $615.02 on Friday. argenx SE has a 52 week low of $352.77 and a 52 week high of $678.21. The stock has a market capitalization of $37.37 billion, a PE ratio of -698.89 and a beta of 0.59. The firm has a 50 day moving average of $634.69 and a two-hundred day moving average of $599.74.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.60. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The business had revenue of $761.22 million during the quarter, compared to analysts’ expectations of $678.52 million. On average, equities research analysts expect that argenx SE will post 3.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ARGX shares. Wedbush reissued an “outperform” rating and issued a $655.00 price target on shares of argenx in a research note on Tuesday, December 3rd. HC Wainwright boosted their price target on shares of argenx from $717.00 to $720.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Piper Sandler boosted their price target on shares of argenx from $620.00 to $725.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Oppenheimer boosted their price target on shares of argenx from $675.00 to $704.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Finally, JMP Securities boosted their price target on shares of argenx from $606.00 to $696.00 and gave the company a “market outperform” rating in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, argenx presently has an average rating of “Moderate Buy” and an average price target of $687.00.

About argenx

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.