argenx SE (NASDAQ:ARGX) Shares Sold by New Century Financial Group LLC

New Century Financial Group LLC trimmed its position in argenx SE (NASDAQ:ARGX) by 4.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 489 shares of the company’s stock after selling 23 shares during the period. New Century Financial Group LLC’s holdings in argenx were worth $304,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ARGX. Stifel Financial Corp lifted its holdings in shares of argenx by 15.3% in the third quarter. Stifel Financial Corp now owns 8,832 shares of the company’s stock valued at $4,788,000 after buying an additional 1,170 shares during the period. FMR LLC boosted its position in shares of argenx by 35.9% during the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after purchasing an additional 1,265,486 shares in the last quarter. Simplify Asset Management Inc. raised its holdings in shares of argenx by 64.0% in the 3rd quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock worth $1,311,000 after purchasing an additional 944 shares in the last quarter. Perpetual Ltd acquired a new stake in argenx during the third quarter valued at approximately $76,314,000. Finally, Westfield Capital Management Co. LP bought a new stake in argenx during the third quarter worth approximately $571,000. 60.32% of the stock is owned by institutional investors.

argenx Stock Performance

ARGX opened at $648.94 on Friday. The stock has a 50-day moving average of $625.94 and a 200-day moving average of $562.96. argenx SE has a 52-week low of $349.86 and a 52-week high of $678.21. The company has a market cap of $39.18 billion, a PE ratio of -737.43 and a beta of 0.59.

argenx (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $543.29 million. During the same quarter in the previous year, the firm earned ($1.25) EPS. On average, research analysts predict that argenx SE will post 2.78 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ARGX. Wells Fargo & Company increased their price objective on argenx from $639.00 to $723.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. increased their price target on argenx from $640.00 to $670.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Citigroup boosted their price objective on argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Scotiabank upgraded shares of argenx from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $439.00 to $715.00 in a report on Tuesday, November 5th. Finally, JMP Securities boosted their price target on shares of argenx from $606.00 to $696.00 and gave the company a “market outperform” rating in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, argenx has a consensus rating of “Moderate Buy” and a consensus target price of $658.39.

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.