Simplify Asset Management Inc. Takes Position in argenx SE (NASDAQ:ARGX)

Simplify Asset Management Inc. bought a new stake in argenx SE (NASDAQ:ARGX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,475 shares of the company’s stock, valued at approximately $634,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Alliance raised its stake in argenx by 4.8% in the second quarter. Wealth Alliance now owns 628 shares of the company’s stock valued at $270,000 after buying an additional 29 shares during the period. Lindbrook Capital LLC increased its holdings in shares of argenx by 23.1% during the 1st quarter. Lindbrook Capital LLC now owns 197 shares of the company’s stock worth $78,000 after acquiring an additional 37 shares during the last quarter. Wahed Invest LLC raised its stake in argenx by 9.6% in the 4th quarter. Wahed Invest LLC now owns 457 shares of the company’s stock valued at $174,000 after acquiring an additional 40 shares during the period. GAMMA Investing LLC lifted its holdings in argenx by 51.3% during the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock valued at $51,000 after purchasing an additional 40 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in argenx by 3.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 1,428 shares of the company’s stock worth $543,000 after purchasing an additional 43 shares during the period. 60.32% of the stock is currently owned by institutional investors and hedge funds.

argenx Stock Performance

argenx stock opened at $536.34 on Friday. argenx SE has a 52 week low of $327.73 and a 52 week high of $554.74. The stock has a market capitalization of $31.88 billion, a P/E ratio of -94.76 and a beta of 0.62. The stock has a fifty day moving average of $509.76 and a 200-day moving average of $430.73.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, July 25th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of ($0.89) by $1.34. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. The firm had revenue of $489.43 million during the quarter, compared to the consensus estimate of $436.66 million. During the same quarter in the previous year, the firm earned ($1.69) earnings per share. On average, research analysts forecast that argenx SE will post -0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ARGX has been the topic of several research analyst reports. Stifel Nicolaus increased their price objective on shares of argenx from $485.00 to $500.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Guggenheim increased their price target on shares of argenx from $545.00 to $585.00 and gave the company a “buy” rating in a report on Friday, July 26th. Wells Fargo & Company boosted their price objective on argenx from $543.00 to $547.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Evercore ISI increased their target price on argenx from $478.00 to $533.00 and gave the stock an “outperform” rating in a research note on Friday, July 12th. Finally, Deutsche Bank Aktiengesellschaft raised argenx from a “hold” rating to a “buy” rating in a report on Thursday, July 25th. Three equities research 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 company. Based on data from MarketBeat.com, argenx presently has an average rating of “Moderate Buy” and a consensus price target of $547.74.

argenx 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.