argenx SE (NASDAQ:ARGX) Stake Lifted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its holdings in shares of argenx SE (NASDAQ:ARGX - Free Report) by 215.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,390 shares of the company's stock after purchasing an additional 75,435 shares during the period. Assenagon Asset Management S.A. owned about 0.18% of argenx worth $65,336,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ARGX. FMR LLC boosted its position in argenx by 17.2% during the fourth quarter. FMR LLC now owns 5,618,222 shares of the company's stock worth $3,455,207,000 after acquiring an additional 824,750 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in argenx during the fourth quarter worth approximately $91,013,000. Allspring Global Investments Holdings LLC boosted its position in argenx by 38,152.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 144,211 shares of the company's stock worth $89,391,000 after acquiring an additional 143,834 shares during the last quarter. GAMMA Investing LLC boosted its position in argenx by 53,684.9% during the first quarter. GAMMA Investing LLC now owns 135,538 shares of the company's stock worth $802,200,000 after acquiring an additional 135,286 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in argenx by 184.7% during the fourth quarter. Marshall Wace LLP now owns 191,553 shares of the company's stock worth $117,805,000 after acquiring an additional 124,271 shares during the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ARGX. Robert W. Baird upgraded shares of argenx from a "neutral" rating to an "outperform" rating and set a $680.00 target price on the stock in a research report on Tuesday, May 13th. Citigroup reiterated a "buy" rating on shares of argenx in a report on Wednesday, May 21st. Baird R W upgraded shares of argenx from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Wedbush reiterated an "outperform" rating and issued a $715.00 price target on shares of argenx in a report on Wednesday. Finally, Oppenheimer lifted their price target on shares of argenx from $704.00 to $708.00 and gave the company an "outperform" rating in a report on Friday, May 9th. One analyst has rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $709.18.

argenx Stock Down 1.5%

Shares of ARGX traded down $8.87 during midday trading on Friday, hitting $577.89. The company had a trading volume of 297,420 shares, compared to its average volume of 324,728. The company's 50 day moving average price is $587.51 and its 200 day moving average price is $611.61. The stock has a market cap of $35.29 billion, a price-to-earnings ratio of -656.69 and a beta of 0.39. argenx SE has a 52 week low of $377.47 and a 52 week high of $678.21.

argenx (NASDAQ:ARGX - Get Free Report) last released its 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. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $748.34 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. Equities analysts anticipate that argenx SE will post 3.13 EPS for the current fiscal year.

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.