Bank of America Corp DE Sells 77,158 Shares of argenx SE (NASDAQ:ARGX)

Bank of America Corp DE cut its stake in shares of argenx SE (NASDAQ:ARGX - Free Report) by 23.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 258,549 shares of the company's stock after selling 77,158 shares during the period. Bank of America Corp DE owned 0.43% of argenx worth $159,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ARGX. GeoWealth Management LLC boosted its position in 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 in the last quarter. Whipplewood Advisors LLC purchased a new position in shares of argenx in the 4th quarter valued at about $37,000. Global Retirement Partners LLC increased its stake 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 4th quarter worth approximately $38,000. Finally, Jones Financial Companies Lllp increased its stake in 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 buying an additional 61 shares in the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ARGX shares. Wedbush reiterated an "outperform" rating and issued a $715.00 price objective on shares of argenx in a report on Friday, April 11th. JMP Securities set a $699.00 target price on argenx in a report on Wednesday. Oppenheimer raised their price objective on argenx from $704.00 to $708.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Robert W. Baird raised argenx from a "neutral" rating to an "outperform" rating and set a $680.00 price objective on the stock in a report on Tuesday. Finally, William Blair reaffirmed an "outperform" rating on shares of argenx in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $698.11.

argenx Trading Up 4.9%

Shares of ARGX stock traded up $26.29 during trading hours on Thursday, hitting $558.56. 338,369 shares of the company were exchanged, compared to its average volume of 321,739. The business has a 50 day moving average of $592.11 and a two-hundred day moving average of $612.79. argenx SE has a 52 week low of $356.38 and a 52 week high of $678.21. The company has a market capitalization of $34.11 billion, a PE ratio of -632.57 and a beta of 0.57.

argenx (NASDAQ:ARGX - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.32 by $0.26. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The company had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $748.34 million. On average, research analysts forecast that argenx SE will post 3.13 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.