Lord Abbett & CO. LLC Boosts Stake in argenx SE (NASDAQ:ARGX)

Lord Abbett & CO. LLC increased its holdings in shares of argenx SE (NASDAQ:ARGX - Free Report) by 26.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 206,202 shares of the company's stock after buying an additional 43,239 shares during the quarter. Lord Abbett & CO. LLC owned 0.34% of argenx worth $126,814,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. FMR LLC grew its position in shares of argenx by 17.2% in the 4th quarter. FMR LLC now owns 5,618,222 shares of the company's stock valued at $3,455,207,000 after buying an additional 824,750 shares during the last quarter. Capital World Investors increased its position in argenx by 5.1% during the 4th quarter. Capital World Investors now owns 1,786,936 shares of the company's stock valued at $1,099,002,000 after purchasing an additional 86,687 shares during the period. Clearbridge Investments LLC lifted its position in shares of argenx by 6.8% in the 4th quarter. Clearbridge Investments LLC now owns 629,828 shares of the company's stock worth $387,344,000 after purchasing an additional 40,330 shares during the period. Jennison Associates LLC boosted its stake in shares of argenx by 27.0% in the 4th quarter. Jennison Associates LLC now owns 302,149 shares of the company's stock valued at $185,821,000 after purchasing an additional 64,183 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of 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 buying an additional 124,271 shares during the period. 60.32% of the stock is owned by institutional investors and hedge funds.

argenx Price Performance

Shares of ARGX traded up $12.10 during mid-day trading on Wednesday, hitting $641.61. The stock had a trading volume of 179,182 shares, compared to its average volume of 327,375. The firm has a market cap of $39.18 billion, a P/E ratio of -729.10 and a beta of 0.60. argenx SE has a 52 week low of $352.77 and a 52 week high of $678.21. The business has a fifty day moving average price of $597.53 and a 200-day moving average price of $609.74.

argenx (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $1.58 EPS for the quarter, beating 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 company had revenue of $761.22 million for the quarter, compared to analysts' expectations of $678.52 million. As a group, research analysts expect that argenx SE will post 3.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ARGX has been the subject of a number of recent analyst reports. Robert W. Baird increased their price target on argenx from $650.00 to $680.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Piper Sandler increased their price target on argenx from $620.00 to $725.00 and gave the stock an "overweight" rating in a report on Tuesday, January 7th. Sanford C. Bernstein raised shares of argenx from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Citigroup upped their price objective on shares of argenx from $681.00 to $796.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Finally, William Blair reissued an "outperform" rating on shares of argenx in a research report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $699.28.

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.