Alkeon Capital Management LLC Trims Stock Position in argenx SE (NASDAQ:ARGX)

Alkeon Capital Management LLC lowered its stake in argenx SE (NASDAQ:ARGX - Free Report) by 78.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,000 shares of the company's stock after selling 270,000 shares during the quarter. Alkeon Capital Management LLC owned about 0.12% of argenx worth $46,125,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GeoWealth Management LLC boosted its position in shares of argenx by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company's stock valued at $31,000 after acquiring an additional 18 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in argenx during the 4th quarter valued at about $37,000. Global Retirement Partners LLC raised its holdings in shares of argenx by 369.2% in the 4th quarter. Global Retirement Partners LLC now owns 61 shares of the company's stock valued at $38,000 after purchasing an additional 48 shares in the last quarter. FIL Ltd purchased a new stake in argenx during the fourth quarter worth $38,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of argenx by 1,016.7% during the 4th quarter. Jones Financial Companies Lllp now owns 67 shares of the company's stock worth $41,000 after purchasing an additional 61 shares during the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenx Stock Performance

ARGX opened at $649.67 on Friday. The firm has a market cap of $39.67 billion, a P/E ratio of -738.26 and a beta of 0.57. The business has a 50 day moving average price of $598.32 and a 200 day moving average price of $611.37. argenx SE has a twelve month low of $352.77 and a twelve month high of $678.21.

argenx (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.60. The company had revenue of $761.22 million for the quarter, compared to analyst estimates of $678.52 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. As a group, analysts anticipate that argenx SE will post 3.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ARGX shares. Wedbush restated an "outperform" rating and set a $715.00 price objective on shares of argenx in a report on Friday, April 11th. William Blair reissued an "outperform" rating on shares of argenx in a report on Friday, February 28th. Truist Financial reaffirmed a "buy" rating and issued a $700.00 price target (up previously from $660.00) on shares of argenx in a report on Tuesday, January 14th. Oppenheimer lifted their target price on shares of argenx from $675.00 to $704.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. Finally, Guggenheim raised their price objective on argenx from $775.00 to $1,100.00 and gave the company a "buy" rating in a report on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $699.28.

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.

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