Ameriprise Financial Inc. Grows Stock Position in argenx SE (NASDAQ:ARGX)

Ameriprise Financial Inc. raised its stake in argenx SE (NASDAQ:ARGX - Free Report) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,013 shares of the company's stock after buying an additional 639 shares during the period. Ameriprise Financial Inc.'s holdings in argenx were worth $4,313,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Stephens Inc. AR acquired a new stake in argenx during the 4th quarter worth approximately $310,000. Jones Financial Companies Lllp lifted its position in argenx by 1,016.7% in 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 during the last quarter. Atomi Financial Group Inc. acquired a new position in shares of argenx during the fourth quarter valued at $339,000. Wilmington Savings Fund Society FSB lifted its stake in shares of argenx by 47.8% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,776 shares of the company's stock worth $1,092,000 after acquiring an additional 574 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of argenx by 13.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,538 shares of the company's stock valued at $946,000 after purchasing an additional 181 shares during the period. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenx Price Performance

NASDAQ ARGX traded down $7.67 during trading on Friday, hitting $573.28. The company's stock had a trading volume of 77,312 shares, compared to its average volume of 322,659. argenx SE has a fifty-two week low of $359.37 and a fifty-two week high of $678.21. The business's 50 day simple moving average is $587.15 and its 200-day simple moving average is $612.54. The company has a market cap of $35.00 billion, a PE ratio of -650.08 and a beta of 0.57.

argenx (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $748.34 million. Analysts expect that argenx SE will post 3.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Sanford C. Bernstein raised shares of argenx from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Robert W. Baird upgraded shares of argenx from a "neutral" rating to an "outperform" rating and set a $680.00 price target for the company in a report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft raised shares of argenx from a "sell" rating to a "hold" rating in a research report on Wednesday, March 12th. William Blair restated an "outperform" rating on shares of argenx in a research note on Friday, February 28th. Finally, Guggenheim dropped their price objective on argenx from $1,100.00 to $1,065.00 and set a "buy" rating for the company in a research note on Friday, May 9th. One equities research analyst has rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, argenx has a consensus rating of "Buy" and an average target price of $709.18.

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.