Point72 Asset Management L.P. Takes $91.01 Million Position in argenx SE (NASDAQ:ARGX)

Point72 Asset Management L.P. acquired a new position in shares of argenx SE (NASDAQ:ARGX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 147,989 shares of the company's stock, valued at approximately $91,013,000. Point72 Asset Management L.P. owned approximately 0.24% of argenx at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Point72 Europe London LLP acquired a new position in argenx during the 4th quarter worth approximately $5,839,000. Quantinno Capital Management LP grew its holdings in argenx by 34.2% during the 4th quarter. Quantinno Capital Management LP now owns 3,386 shares of the company's stock worth $2,082,000 after acquiring an additional 862 shares during the last quarter. Morse Asset Management Inc bought a new stake in argenx during the 4th quarter worth approximately $154,000. Moore Capital Management LP grew its holdings in argenx by 54.5% during the 4th quarter. Moore Capital Management LP now owns 34,000 shares of the company's stock worth $20,910,000 after acquiring an additional 12,000 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in argenx by 1,086.6% during the 4th quarter. Lazard Asset Management LLC now owns 70,637 shares of the company's stock worth $43,440,000 after acquiring an additional 64,684 shares during the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

argenx Stock Up 0.7%

ARGX traded up $3.88 during trading on Friday, hitting $565.63. 433,461 shares of the company's stock were exchanged, compared to its average volume of 324,939. The business's 50 day moving average is $591.63 and its two-hundred day moving average is $613.35. argenx SE has a fifty-two week low of $356.38 and a fifty-two week high of $678.21. The stock has a market cap of $34.54 billion, a P/E ratio of -642.76 and a beta of 0.57.

argenx (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.26. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $748.34 million. On average, sell-side analysts forecast that argenx SE will post 3.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ARGX shares. Sanford C. Bernstein raised shares of argenx from a "market perform" rating to an "outperform" rating in a report on Monday, March 17th. Robert W. Baird raised shares of argenx from a "neutral" rating to an "outperform" rating and set a $680.00 target price on the stock in a report on Tuesday, May 13th. Citigroup reissued an "outperform" rating on shares of argenx in a report on Wednesday. HC Wainwright reaffirmed a "buy" rating and issued a $720.00 price objective on shares of argenx in a research note on Tuesday, April 8th. Finally, Guggenheim reduced their price objective on shares of argenx from $1,100.00 to $1,065.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. One research analyst has rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $698.11.

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.