First Trust Advisors LP Trims Position in argenx SE (NASDAQ:ARGX)

First Trust Advisors LP trimmed its stake in argenx SE (NASDAQ:ARGX) by 8.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 75,409 shares of the company’s stock after selling 6,677 shares during the period. First Trust Advisors LP’s holdings in argenx were worth $46,377,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Stephens Inc. AR purchased a new stake in shares of argenx in the fourth quarter valued at approximately $310,000. Ritholtz Wealth Management raised its position in argenx by 85.5% during the 4th quarter. Ritholtz Wealth Management now owns 898 shares of the company’s stock valued at $552,000 after purchasing an additional 414 shares in the last quarter. Jones Financial Companies Lllp raised its position in argenx by 1,016.7% during the 4th quarter. Jones Financial Companies Lllp now owns 67 shares of the company’s stock valued at $41,000 after purchasing an additional 61 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in shares of argenx by 40.0% in the 4th quarter. Park Avenue Securities LLC now owns 1,695 shares of the company’s stock worth $1,042,000 after buying an additional 484 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of argenx during the 3rd quarter worth $652,000. 60.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. William Blair reissued an “outperform” rating on shares of argenx in a research report on Friday, February 28th. Truist Financial reaffirmed a “buy” rating and issued a $700.00 price objective (up previously from $660.00) on shares of argenx in a research report on Tuesday, January 14th. Wedbush reiterated an “outperform” rating and set a $715.00 price objective on shares of argenx in a research note on Friday, April 11th. Robert W. Baird raised their target price on shares of argenx from $650.00 to $680.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft raised argenx from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $699.28.

argenx Trading Down 0.9 %

Shares of NASDAQ:ARGX opened at $594.65 on Thursday. argenx SE has a twelve month low of $352.77 and a twelve month high of $678.21. The company has a market cap of $36.31 billion, a PE ratio of -675.74 and a beta of 0.60. The company’s 50 day moving average is $599.54 and its 200 day moving average is $606.69.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Thursday, February 27th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.60. The firm had revenue of $761.22 million for the quarter, compared to analyst estimates of $678.52 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. Equities research analysts predict that argenx SE will post 3.13 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.