Royal Bank of Canada Raises Stock Holdings in argenx SE (NASDAQ:ARGX)

Royal Bank of Canada boosted its stake in shares of argenx SE (NASDAQ:ARGX - Free Report) by 6.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,953 shares of the company's stock after purchasing an additional 2,341 shares during the period. Royal Bank of Canada owned about 0.06% of argenx worth $23,340,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. GeoWealth Management LLC increased its holdings in argenx by 56.3% in the fourth quarter. GeoWealth Management LLC now owns 50 shares of the company's stock worth $31,000 after buying an additional 18 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in argenx in the 4th quarter worth approximately $37,000. Global Retirement Partners LLC boosted its position in argenx by 369.2% during the fourth quarter. Global Retirement Partners LLC now owns 61 shares of the company's stock worth $38,000 after purchasing an additional 48 shares during the period. FIL Ltd acquired a new position in argenx during the fourth quarter valued at approximately $38,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in argenx in the 4th quarter valued at $38,000. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenx Stock Performance

argenx stock traded down $6.60 during midday trading on Friday, hitting $574.35. 111,867 shares of the company's stock were exchanged, compared to its average volume of 322,806. argenx SE has a 52-week low of $359.37 and a 52-week high of $678.21. The company has a market cap of $35.07 billion, a P/E ratio of -653.77 and a beta of 0.57. The stock has a 50-day moving average price of $587.15 and a two-hundred day moving average price of $612.54.

argenx (NASDAQ:ARGX - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $2.58 EPS for the quarter, beating 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 company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $748.34 million. As a group, sell-side analysts expect that argenx SE will post 3.13 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on ARGX. Deutsche Bank Aktiengesellschaft raised 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 report on Friday, February 28th. Guggenheim dropped their price target on shares of 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. Robert W. Baird raised shares of argenx from a "neutral" rating to an "outperform" rating and set a $680.00 price objective on the stock in a research note on Tuesday, May 13th. Finally, HC Wainwright reissued a "buy" rating and issued a $720.00 target price on shares of argenx in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $709.18.

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.