28,794 Shares in argenx SE (NASDAQ:ARGX) Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. purchased a new position in argenx SE (NASDAQ:ARGX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,794 shares of the company’s stock, valued at approximately $15,609,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ARGX. Park Avenue Securities LLC boosted its holdings in argenx by 20.7% in the first quarter. Park Avenue Securities LLC now owns 1,235 shares of the company’s stock worth $486,000 after acquiring an additional 212 shares in the last quarter. Norden Group LLC bought a new position in argenx in the first quarter worth approximately $1,465,000. First Trust Direct Indexing L.P. boosted its holdings in argenx by 9.6% in the first quarter. First Trust Direct Indexing L.P. now owns 1,818 shares of the company’s stock worth $716,000 after acquiring an additional 159 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its holdings in argenx by 5.2% in the first quarter. Legacy Wealth Asset Management LLC now owns 1,368 shares of the company’s stock worth $539,000 after acquiring an additional 68 shares in the last quarter. Finally, New Century Financial Group LLC boosted its holdings in argenx by 9.5% in the first quarter. New Century Financial Group LLC now owns 610 shares of the company’s stock worth $240,000 after acquiring an additional 53 shares in the last quarter. Institutional investors own 60.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Barclays upgraded argenx from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 6th. Robert W. Baird raised their target price on argenx from $490.00 to $515.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Evercore ISI raised their target price on argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a report on Friday, July 12th. Finally, Citigroup raised their target price on argenx from $512.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $550.44.

argenx Stock Performance

Shares of NASDAQ ARGX opened at $556.83 on Friday. The stock has a market cap of $33.09 billion, a PE ratio of -98.38 and a beta of 0.63. argenx SE has a fifty-two week low of $327.73 and a fifty-two week high of $571.97. The stock has a fifty day moving average of $534.84 and a 200-day moving average of $459.81.

argenx (NASDAQ:ARGX) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of ($0.89) by $1.34. The company had revenue of $489.43 million during the quarter, compared to analysts’ expectations of $436.66 million. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. During the same period in the previous year, the business earned ($1.69) earnings per share. On average, sell-side analysts predict that argenx SE will post -0.37 EPS for the current 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.