USS Investment Management Ltd Lowers Stock Holdings in argenx SE (NASDAQ:ARGX)

USS Investment Management Ltd decreased its position in argenx SE (NASDAQ:ARGX - Free Report) by 14.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,463 shares of the company's stock after selling 2,136 shares during the quarter. USS Investment Management Ltd's holdings in argenx were worth $7,673,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Voloridge Investment Management LLC acquired a new position in argenx in the 4th quarter valued at about $28,510,000. Woodline Partners LP grew its stake in shares of argenx by 299.5% in the fourth quarter. Woodline Partners LP now owns 74,237 shares of the company's stock worth $45,656,000 after acquiring an additional 55,656 shares in the last quarter. Vident Advisory LLC increased its position in shares of argenx by 7.5% during the fourth quarter. Vident Advisory LLC now owns 890 shares of the company's stock worth $547,000 after acquiring an additional 62 shares during the period. Squarepoint Ops LLC raised its stake in shares of argenx by 24.5% in the fourth quarter. Squarepoint Ops LLC now owns 22,664 shares of the company's stock valued at $13,938,000 after acquiring an additional 4,464 shares in the last quarter. Finally, Tema Etfs LLC purchased a new position in argenx in the fourth quarter valued at $2,828,000. Institutional investors and hedge funds own 60.32% of the company's stock.

argenx Stock Down 0.6%

ARGX traded down $3.35 during trading on Tuesday, hitting $584.26. 122,795 shares of the stock were exchanged, compared to its average volume of 324,701. The firm has a market capitalization of $35.67 billion, a P/E ratio of -662.64 and a beta of 0.57. argenx SE has a 1-year low of $359.37 and a 1-year high of $678.21. The stock has a fifty day moving average price of $589.13 and a two-hundred day moving average price of $613.08.

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

Analysts Set New Price Targets

Several brokerages have weighed in on ARGX. Baird R W upgraded argenx from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Guggenheim lowered their price objective 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. Oppenheimer upped their target price on shares of argenx from $704.00 to $708.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Sanford C. Bernstein raised shares of argenx from a "market perform" rating to an "outperform" rating in a report on Monday, March 17th. Finally, HC Wainwright reiterated a "buy" rating and set a $720.00 price target on shares of argenx in a report on Tuesday, April 8th. One equities research 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 stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $698.11.

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.