State Street Corp Lowers Position in argenx SE (NASDAQ:ARGX)

State Street Corp trimmed its holdings in shares of argenx SE (NASDAQ:ARGX) by 4.9% during the 3rd quarter, Holdings Channel reports. The fund owned 2,586 shares of the company’s stock after selling 134 shares during the period. State Street Corp’s holdings in argenx were worth $1,402,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. FMR LLC raised its position in shares of argenx by 35.9% in the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company’s stock worth $2,598,445,000 after acquiring an additional 1,265,486 shares in the last quarter. Perpetual Ltd bought a new position in argenx in the third quarter worth about $76,314,000. Logos Global Management LP purchased a new stake in shares of argenx during the second quarter valued at about $58,055,000. Sei Investments Co. boosted its holdings in shares of argenx by 15.2% in the 2nd quarter. Sei Investments Co. now owns 381,544 shares of the company’s stock valued at $164,079,000 after buying an additional 50,477 shares in the last quarter. Finally, Tri Locum Partners LP grew its position in shares of argenx by 166.5% in the 2nd quarter. Tri Locum Partners LP now owns 74,558 shares of the company’s stock worth $32,063,000 after buying an additional 46,577 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

Wall Street Analysts Forecast Growth

ARGX has been the subject of a number of analyst reports. Piper Sandler increased their target price on shares of argenx from $553.00 to $620.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Baird R W lowered argenx from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Raymond James reissued a “strong-buy” rating and issued a $605.00 price objective on shares of argenx in a research report on Thursday, October 10th. Oppenheimer reaffirmed an “outperform” rating and set a $675.00 target price (up from $646.00) on shares of argenx in a research report on Thursday, November 21st. Finally, Evercore ISI raised their price target on argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $639.78.

argenx Price Performance

Shares of argenx stock opened at $620.16 on Friday. argenx SE has a 1 year low of $349.86 and a 1 year high of $644.97. The stock has a market cap of $37.44 billion, a PE ratio of -704.73 and a beta of 0.59. The firm has a fifty day moving average price of $604.06 and a 200 day moving average price of $537.56.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The business had revenue of $588.88 million during the quarter, compared to analyst estimates of $543.29 million. During the same quarter last year, the business posted ($1.25) EPS. As a group, equities analysts expect that argenx SE will post 2.2 EPS for the current year.

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.