argenx SE (NASDAQ:ARGX) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. trimmed its holdings in argenx SE (NASDAQ:ARGX) by 45.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,728 shares of the company’s stock after selling 28,472 shares during the quarter. Point72 Asset Management L.P.’s holdings in argenx were worth $14,935,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in shares of argenx by 49.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company’s stock worth $2,167,235,000 after purchasing an additional 1,830,651 shares in the last quarter. Capital World Investors grew its position in argenx by 37.0% in the 4th quarter. Capital World Investors now owns 1,961,202 shares of the company’s stock valued at $746,099,000 after buying an additional 530,181 shares in the last quarter. Janus Henderson Group PLC increased its stake in argenx by 24.8% during the 1st quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock valued at $872,690,000 after buying an additional 439,889 shares during the period. Avoro Capital Advisors LLC raised its position in shares of argenx by 23.5% during the 4th quarter. Avoro Capital Advisors LLC now owns 1,234,567 shares of the company’s stock worth $469,666,000 after buying an additional 234,567 shares in the last quarter. Finally, RTW Investments LP lifted its stake in shares of argenx by 31.5% in the 4th quarter. RTW Investments LP now owns 667,195 shares of the company’s stock worth $253,821,000 after acquiring an additional 160,000 shares during the period. 60.32% of the stock is currently owned by institutional investors and hedge funds.

argenx Trading Up 2.2 %

Shares of ARGX stock opened at $536.11 on Monday. The stock’s fifty day simple moving average is $519.04 and its 200-day simple moving average is $438.18. The company has a market capitalization of $31.86 billion, a price-to-earnings ratio of -94.72 and a beta of 0.62. argenx SE has a 1-year low of $327.73 and a 1-year high of $554.74.

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

Wall Street Analysts Forecast Growth

ARGX has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of argenx from a “hold” rating to a “buy” rating in a research note on Thursday, July 25th. Wells Fargo & Company lifted their price target on argenx from $543.00 to $547.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. boosted their price objective on argenx from $500.00 to $640.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Piper Sandler raised their target price on argenx from $522.00 to $535.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. Finally, Truist Financial boosted their price target on shares of argenx from $480.00 to $540.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $547.74.

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.