Mackenzie Financial Corp Grows Stock Position in argenx SE (NASDAQ:ARGX)

Mackenzie Financial Corp lifted its position in shares of argenx SE (NASDAQ:ARGX - Free Report) by 81.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,449 shares of the company's stock after purchasing an additional 1,996 shares during the period. Mackenzie Financial Corp's holdings in argenx were worth $2,736,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. GeoWealth Management LLC grew its position in argenx by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company's stock worth $31,000 after purchasing an additional 18 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in shares of argenx during the fourth quarter worth about $37,000. Global Retirement Partners LLC increased its position in 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 acquiring an additional 48 shares during the period. FIL Ltd acquired a new position in argenx in the 4th quarter valued at about $38,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in argenx during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 60.32% of the company's stock.

argenx Trading Down 1.4%

ARGX traded down $7.99 during trading on Tuesday, hitting $576.61. 198,149 shares of the company's stock were exchanged, compared to its average volume of 323,278. argenx SE has a 1 year low of $368.57 and a 1 year high of $678.21. The stock has a 50 day moving average price of $586.25 and a 200 day moving average price of $612.53. The firm has a market cap of $35.21 billion, a P/E ratio of -655.24 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 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 business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $748.34 million. Analysts forecast that argenx SE will post 3.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ARGX shares. Baird R W raised argenx from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Guggenheim dropped their price objective on shares of argenx from $1,100.00 to $1,065.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Deutsche Bank Aktiengesellschaft upgraded shares of argenx from a "sell" rating to a "hold" rating in a research note on Wednesday, March 12th. Sanford C. Bernstein upgraded shares of argenx from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Finally, Robert W. Baird raised 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. One research analyst has rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average 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.