Finepoint Capital LP Lowers Position in argenx SE (NASDAQ:ARGX)

Finepoint Capital LP reduced its stake in argenx SE (NASDAQ:ARGX) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,928 shares of the company’s stock after selling 1,500 shares during the period. argenx makes up about 2.0% of Finepoint Capital LP’s holdings, making the stock its 4th largest holding. Finepoint Capital LP owned 0.09% of argenx worth $32,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in ARGX. Steward Partners Investment Advisory LLC lifted its stake in argenx by 5.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 380 shares of the company’s stock worth $234,000 after purchasing an additional 20 shares in the last quarter. SG Americas Securities LLC raised its position in shares of argenx by 6.2% in the fourth quarter. SG Americas Securities LLC now owns 358 shares of the company’s stock worth $220,000 after buying an additional 21 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of argenx by 38.2% in the fourth quarter. Farther Finance Advisors LLC now owns 76 shares of the company’s stock worth $47,000 after buying an additional 21 shares in the last quarter. Dynasty Wealth Management LLC boosted its stake in argenx by 3.4% during the fourth quarter. Dynasty Wealth Management LLC now owns 677 shares of the company’s stock valued at $416,000 after buying an additional 22 shares during the period. Finally, Choreo LLC grew its position in argenx by 4.4% during the fourth quarter. Choreo LLC now owns 551 shares of the company’s stock worth $342,000 after buying an additional 23 shares in the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenx Stock Performance

NASDAQ ARGX opened at $555.11 on Friday. argenx SE has a fifty-two week low of $352.77 and a fifty-two week high of $678.21. The stock has a market cap of $33.73 billion, a P/E ratio of -630.81 and a beta of 0.60. The stock has a 50 day simple moving average of $621.43 and a two-hundred day simple moving average of $603.18.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $678.52 million. Sell-side analysts predict that argenx SE will post 3.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on argenx from $723.00 to $741.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. William Blair reissued an “outperform” rating on shares of argenx in a research note on Friday, February 28th. Truist Financial restated a “buy” rating and set a $700.00 price objective (up previously from $660.00) on shares of argenx in a research report on Tuesday, January 14th. Oppenheimer upped their target price on shares of argenx from $675.00 to $704.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Finally, Citigroup reaffirmed an “outperform” rating on shares of argenx in a research note on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, argenx has an average rating of “Moderate Buy” and an average price target of $687.00.

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.