First Trust Advisors LP Sells 6,677 Shares of argenx SE (NASDAQ:ARGX)

First Trust Advisors LP decreased its position in argenx SE (NASDAQ:ARGX - Free Report) by 8.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,409 shares of the company's stock after selling 6,677 shares during the quarter. First Trust Advisors LP owned 0.12% of argenx worth $46,377,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. FMR LLC increased its stake in argenx by 17.2% during the fourth quarter. FMR LLC now owns 5,618,222 shares of the company's stock valued at $3,455,207,000 after purchasing an additional 824,750 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of argenx during the 3rd quarter valued at about $88,339,000. Allspring Global Investments Holdings LLC grew its position in shares of argenx by 38,152.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 144,211 shares of the company's stock valued at $89,391,000 after buying an additional 143,834 shares during the last quarter. Marshall Wace LLP raised its stake 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 period. Finally, Raymond James Financial Inc. bought a new position in argenx in the fourth quarter worth about $43,543,000. 60.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ARGX has been the topic of a number of research reports. Citigroup raised their price target on argenx from $681.00 to $796.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Sanford C. Bernstein upgraded argenx from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. JMP Securities upped their price target on shares of argenx from $606.00 to $696.00 and gave the stock a "market outperform" rating in a research report on Tuesday, January 14th. Oppenheimer boosted their target price on shares of argenx from $675.00 to $704.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. Finally, Truist Financial restated a "buy" rating and issued a $700.00 price target (up previously from $660.00) on shares of argenx in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, argenx has an average rating of "Moderate Buy" and an average price target of $699.28.

argenx Price Performance

Shares of ARGX stock traded up $9.42 on Tuesday, hitting $630.39. The company's stock had a trading volume of 59,784 shares, compared to its average volume of 306,917. The firm's fifty day moving average price is $597.89 and its 200-day moving average price is $609.60. The stock has a market capitalization of $38.49 billion, a price-to-earnings ratio of -716.00 and a beta of 0.60. argenx SE has a fifty-two week low of $352.77 and a fifty-two week high of $678.21.

argenx (NASDAQ:ARGX - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.60. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The business had revenue of $761.22 million during the quarter, compared to analysts' expectations of $678.52 million. Analysts predict that argenx SE will post 3.13 EPS 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.