Pinebridge Investments L.P. Buys 7,909 Shares of argenx SE (NASDAQ:ARGX)

Pinebridge Investments L.P. raised its stake in shares of argenx SE (NASDAQ:ARGX - Free Report) by 16.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 56,925 shares of the company's stock after acquiring an additional 7,909 shares during the period. Pinebridge Investments L.P. owned approximately 0.09% of argenx worth $35,009,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its holdings in argenx by 17.2% in the fourth quarter. FMR LLC now owns 5,618,222 shares of the company's stock worth $3,455,207,000 after purchasing an additional 824,750 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in argenx in the 3rd quarter worth approximately $88,339,000. Allspring Global Investments Holdings LLC raised its stake in argenx by 38,152.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 144,211 shares of the company's stock worth $89,391,000 after acquiring an additional 143,834 shares during the period. Marshall Wace LLP lifted its holdings in argenx by 184.7% during the fourth quarter. Marshall Wace LLP now owns 191,553 shares of the company's stock valued at $117,805,000 after purchasing an additional 124,271 shares in the last quarter. Finally, Capital World Investors increased its stake in shares of argenx by 5.1% in the fourth quarter. Capital World Investors now owns 1,786,936 shares of the company's stock worth $1,099,002,000 after purchasing an additional 86,687 shares in the last quarter. Hedge funds and other institutional investors own 60.32% of the company's stock.

argenx Stock Up 0.1 %

ARGX traded up $0.69 during trading on Monday, reaching $615.45. The company had a trading volume of 117,204 shares, compared to its average volume of 328,991. The business has a 50 day simple moving average of $598.28 and a 200-day simple moving average of $609.01. The stock has a market cap of $37.58 billion, a P/E ratio of -699.38 and a beta of 0.60. argenx SE has a 52 week low of $352.77 and a 52 week high of $678.21.

argenx (NASDAQ:ARGX - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.60. The firm had revenue of $761.22 million during the quarter, compared to analyst estimates of $678.52 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. As a group, equities research analysts expect that argenx SE will post 3.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Piper Sandler boosted their price objective on argenx from $620.00 to $725.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. Guggenheim upped their price target on argenx from $775.00 to $1,100.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Wells Fargo & Company increased their price objective on shares of argenx from $723.00 to $741.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Sanford C. Bernstein raised shares of argenx from a "market perform" rating to an "outperform" rating in a report on Monday, March 17th. Finally, Wedbush reiterated an "outperform" rating and issued a $715.00 price target on shares of argenx in a report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, argenx has a consensus rating of "Moderate Buy" and a consensus target price of $699.28.

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.