Millennium Management LLC Sells 30,036 Shares of argenx SE (NASDAQ:ARGX)

Millennium Management LLC reduced its holdings in shares of argenx SE (NASDAQ:ARGX - Free Report) by 31.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 64,424 shares of the company's stock after selling 30,036 shares during the quarter. Millennium Management LLC owned 0.11% of argenx worth $39,621,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Stephens Inc. AR bought a new position in argenx during the 4th quarter worth $310,000. Ritholtz Wealth Management raised its position in argenx by 85.5% during the 4th quarter. Ritholtz Wealth Management now owns 898 shares of the company's stock worth $552,000 after purchasing an additional 414 shares during the last quarter. Jones Financial Companies Lllp raised its position 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 purchasing an additional 61 shares during the last quarter. Park Avenue Securities LLC raised its position in argenx by 40.0% during the 4th quarter. Park Avenue Securities LLC now owns 1,695 shares of the company's stock worth $1,042,000 after purchasing an additional 484 shares during the last quarter. Finally, Atomi Financial Group Inc. bought a new position in argenx during the 4th quarter worth $339,000. 60.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wells Fargo & Company raised their target price on argenx from $723.00 to $741.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft raised argenx from a "sell" rating to a "hold" rating in a research report on Wednesday, March 12th. Guggenheim lowered their target price on argenx from $1,100.00 to $1,065.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Baird R W raised argenx from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, JMP Securities set a $699.00 price objective on argenx in a research note on Wednesday, May 14th. One analyst has rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $698.11.

argenx Trading Up 1.1%

argenx stock traded up $6.64 during midday trading on Wednesday, reaching $584.95. The stock had a trading volume of 434,704 shares, compared to its average volume of 325,477. argenx SE has a 12 month low of $356.38 and a 12 month high of $678.21. The company has a market capitalization of $35.72 billion, a P/E ratio of -664.72 and a beta of 0.57. The company has a fifty day moving average price of $591.30 and a two-hundred day moving average price of $613.17.

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

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.