Thrivent Financial for Lutherans Trims Stake in argenx SE (NASDAQ:ARGX)

Thrivent Financial for Lutherans reduced its position in shares of argenx SE (NASDAQ:ARGX) by 12.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,788 shares of the company’s stock after selling 5,384 shares during the period. Thrivent Financial for Lutherans owned approximately 0.06% of argenx worth $15,820,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Sei Investments Co. grew its position in shares of argenx by 15.2% during the 2nd quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock valued at $164,079,000 after purchasing an additional 50,477 shares in the last quarter. Simplify Asset Management Inc. purchased a new position in argenx in the second quarter worth $634,000. XTX Topco Ltd purchased a new position in argenx in the second quarter worth $1,435,000. Wealth Alliance grew its position in argenx by 4.8% in the second quarter. Wealth Alliance now owns 628 shares of the company’s stock worth $270,000 after acquiring an additional 29 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in argenx by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 19,388 shares of the company’s stock worth $8,339,000 after acquiring an additional 1,438 shares in the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Morgan Stanley cut their target price on shares of argenx from $515.00 to $510.00 and set an “overweight” rating for the company in a research report on Tuesday, May 28th. JPMorgan Chase & Co. upped their target price on shares of argenx from $500.00 to $640.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Wells Fargo & Company upped their target price on shares of argenx from $543.00 to $547.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Truist Financial upped their target price on shares of argenx from $480.00 to $540.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Evercore ISI upped their price target on shares of argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, argenx currently has an average rating of “Moderate Buy” and an average price target of $547.74.

argenx Trading Down 1.7 %

Shares of NASDAQ:ARGX opened at $519.76 on Wednesday. The company has a market cap of $30.89 billion, a price-to-earnings ratio of -91.83 and a beta of 0.62. The company has a 50-day moving average price of $514.88 and a 200-day moving average price of $434.97. argenx SE has a 12 month low of $327.73 and a 12 month high of $554.74.

argenx (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.89) by $1.34. argenx had a negative net margin of 12.31% and a negative return on equity of 7.33%. The company had revenue of $489.43 million during the quarter, compared to the consensus estimate of $436.66 million. During the same period in the prior year, the firm earned ($1.69) earnings per share. As a group, research analysts forecast that argenx SE will post -0.37 EPS 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.