argenx SE (NASDAQ:ARGX) is Rock Springs Capital Management LP's Largest Position

Rock Springs Capital Management LP reduced its stake in shares of argenx SE (NASDAQ:ARGX - Free Report) by 1.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 229,600 shares of the company's stock after selling 3,900 shares during the period. argenx comprises approximately 5.4% of Rock Springs Capital Management LP's portfolio, making the stock its biggest position. Rock Springs Capital Management LP owned about 0.38% of argenx worth $141,204,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GeoWealth Management LLC increased its position in shares of argenx by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company's stock valued at $31,000 after purchasing an additional 18 shares during the last quarter. Whipplewood Advisors LLC bought a new position in argenx during the fourth quarter valued at $37,000. Global Retirement Partners LLC lifted its position in shares of argenx by 369.2% during the 4th quarter. Global Retirement Partners LLC now owns 61 shares of the company's stock valued at $38,000 after buying an additional 48 shares during the last quarter. FIL Ltd purchased a new stake in argenx in the 4th quarter worth about $38,000. Finally, Jones Financial Companies Lllp lifted its holdings in argenx by 1,016.7% during the fourth quarter. Jones Financial Companies Lllp now owns 67 shares of the company's stock valued at $41,000 after purchasing an additional 61 shares during the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenx Price Performance

NASDAQ:ARGX traded up $14.25 during mid-day trading on Friday, reaching $614.76. 215,836 shares of the company's stock traded hands, compared to its average volume of 308,025. argenx SE has a 12-month low of $352.77 and a 12-month high of $678.21. The company has a 50 day moving average price of $598.28 and a 200-day moving average price of $607.83. The firm has a market capitalization of $37.54 billion, a price-to-earnings ratio of -698.59 and a beta of 0.60.

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

Analyst Upgrades and Downgrades

ARGX has been the topic of several research reports. Robert W. Baird boosted their price target on shares of argenx from $650.00 to $680.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. HC Wainwright reiterated a "buy" rating and set a $720.00 price objective on shares of argenx in a research note on Tuesday, April 8th. Citigroup raised their target price on argenx from $681.00 to $796.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. William Blair reissued an "outperform" rating on shares of argenx in a report on Friday, February 28th. Finally, Sanford C. Bernstein raised shares of argenx from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.