Fred Alger Management LLC Purchases New Position in argenx SE (NASDAQ:ARGX)

Fred Alger Management LLC bought a new position in argenx SE (NASDAQ:ARGX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,156 shares of the company's stock, valued at approximately $1,326,000.

Other hedge funds have also 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. Steward Partners Investment Advisory LLC increased its position in shares of argenx by 5.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 380 shares of the company's stock valued at $234,000 after acquiring an additional 20 shares during the period. SG Americas Securities LLC increased its position in shares of argenx by 6.2% in the 4th quarter. SG Americas Securities LLC now owns 358 shares of the company's stock valued at $220,000 after acquiring an additional 21 shares during the period. Farther Finance Advisors LLC lifted its position in argenx by 38.2% during the 4th quarter. Farther Finance Advisors LLC now owns 76 shares of the company's stock worth $47,000 after acquiring an additional 21 shares during the period. Finally, Dynasty Wealth Management LLC grew its stake in argenx by 3.4% during the 4th quarter. Dynasty Wealth Management LLC now owns 677 shares of the company's stock valued at $416,000 after purchasing an additional 22 shares during the last quarter. 60.32% of the stock is owned by institutional investors.

argenx Stock Performance

Shares of ARGX traded down $10.20 during midday trading on Wednesday, hitting $532.27. The company had a trading volume of 486,197 shares, compared to its average volume of 321,553. argenx SE has a 1 year low of $356.38 and a 1 year high of $678.21. The firm has a market capitalization of $32.50 billion, a P/E ratio of -604.85 and a beta of 0.57. The company's 50-day simple moving average is $592.11 and its 200-day simple moving average is $612.79.

argenx (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $2.58 EPS 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 analysts' expectations of $748.34 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. Equities analysts predict that argenx SE will post 3.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ARGX. Oppenheimer upped their target price on argenx from $704.00 to $708.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Truist Financial restated a "buy" rating and set a $700.00 target price (up from $660.00) on shares of argenx in a research report on Tuesday, January 14th. Wedbush restated an "outperform" rating and set a $715.00 target price on shares of argenx in a research report on Friday, April 11th. William Blair restated an "outperform" rating on shares of argenx in a research report on Friday, February 28th. Finally, Sanford C. Bernstein upgraded shares of argenx from a "market perform" rating to an "outperform" rating in a research report on Monday, March 17th. Two research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $698.11.

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.