Orbimed Advisors LLC Lowers Stock Holdings in argenx SE (NASDAQ:ARGX)

Orbimed Advisors LLC trimmed its holdings in shares of argenx SE (NASDAQ:ARGX - Free Report) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 189,700 shares of the company's stock after selling 14,800 shares during the quarter. argenx comprises about 2.6% of Orbimed Advisors LLC's investment portfolio, making the stock its 9th largest holding. Orbimed Advisors LLC owned approximately 0.31% of argenx worth $116,666,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Morse Asset Management Inc bought a new position in shares of argenx during the fourth quarter worth about $154,000. Moore Capital Management LP lifted its stake in argenx by 54.5% during the 4th quarter. Moore Capital Management LP now owns 34,000 shares of the company's stock valued at $20,910,000 after acquiring an additional 12,000 shares in the last quarter. Lazard Asset Management LLC grew its position in argenx by 1,086.6% in the 4th quarter. Lazard Asset Management LLC now owns 70,637 shares of the company's stock worth $43,440,000 after purchasing an additional 64,684 shares in the last quarter. Iron Triangle Partners LP purchased a new stake in shares of argenx during the fourth quarter valued at approximately $21,525,000. Finally, Focus Partners Wealth purchased a new position in shares of argenx in the 4th quarter worth about $201,000. Institutional investors and hedge funds own 60.32% of the company's stock.

argenx Trading Up 2.0%

ARGX opened at $560.90 on Tuesday. The stock has a market capitalization of $34.25 billion, a P/E ratio of -637.39 and a beta of 0.57. The firm's fifty day simple moving average is $594.76 and its 200 day simple moving average is $613.84. argenx SE has a 12 month low of $352.77 and a 12 month high of $678.21.

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

Analysts Set New Price Targets

Several brokerages have commented on ARGX. Wedbush restated an "outperform" rating and issued a $715.00 target price on shares of argenx in a research note on Friday, April 11th. Deutsche Bank Aktiengesellschaft raised shares of argenx from a "sell" rating to a "hold" rating in a research report on Wednesday, March 12th. Oppenheimer lifted their price target on shares of argenx from $704.00 to $708.00 and gave the company an "outperform" rating in a report on Friday. Wells Fargo & Company upped their price target on argenx from $723.00 to $741.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $700.00 price target (up previously from $660.00) on shares of argenx in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, argenx presently has a consensus rating of "Moderate Buy" and an average target price of $697.94.

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.

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