New Century Financial Group LLC increased its stake in argenx SE (NASDAQ:ARGX – Free Report) by 9.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 610 shares of the company’s stock after buying an additional 53 shares during the period. New Century Financial Group LLC’s holdings in argenx were worth $240,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in ARGX. GAMMA Investing LLC lifted its position in shares of argenx by 420.0% during the first quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock worth $31,000 after purchasing an additional 63 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in argenx during the fourth quarter valued at approximately $38,000. Mather Group LLC. bought a new position in argenx during the 1st quarter worth approximately $38,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of argenx in the 4th quarter valued at approximately $60,000. Finally, Principal Securities Inc. acquired a new stake in shares of argenx during the 4th quarter valued at approximately $99,000. 60.32% of the stock is owned by institutional investors and hedge funds.
argenx Price Performance
NASDAQ ARGX opened at $435.29 on Friday. The firm has a market capitalization of $25.87 billion, a PE ratio of -76.91 and a beta of 0.64. argenx SE has a 12 month low of $327.73 and a 12 month high of $550.76. The company’s 50 day simple moving average is $388.03 and its 200 day simple moving average is $386.43.
Analysts Set New Price Targets
A number of research firms have commented on ARGX. Bank of America reaffirmed a “buy” rating and issued a $607.00 price objective (up previously from $535.00) on shares of argenx in a report on Monday, June 24th. Morgan Stanley dropped their price objective on shares of argenx from $515.00 to $510.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 28th. Truist Financial raised their target price on shares of argenx from $440.00 to $480.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Scotiabank increased their price target on argenx from $402.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 26th. Finally, Piper Sandler upped their price objective on argenx from $522.00 to $535.00 and gave the stock an “overweight” rating in a research note on Monday, June 24th. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, argenx has a consensus rating of “Moderate Buy” and an average price target of $525.42.
Get Our Latest Stock Analysis on ARGX
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.
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