Altium Capital Management LLC Invests $6.15 Million in argenx SE (NASDAQ:ARGX)

Altium Capital Management LLC purchased a new position in argenx SE (NASDAQ:ARGX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,000 shares of the company's stock, valued at approximately $6,150,000. argenx accounts for approximately 1.7% of Altium Capital Management LLC's portfolio, making the stock its 18th largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sanctuary Advisors LLC increased its position in shares of argenx by 17.5% in the third quarter. Sanctuary Advisors LLC now owns 2,064 shares of the company's stock worth $1,119,000 after purchasing an additional 308 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in argenx in the 3rd quarter worth approximately $652,000. Lord Abbett & CO. LLC purchased a new position in shares of argenx in the third quarter worth $88,339,000. GAMMA Investing LLC raised its stake in shares of argenx by 44.8% during the fourth quarter. GAMMA Investing LLC now owns 252 shares of the company's stock valued at $155,000 after acquiring an additional 78 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in argenx during the 4th quarter valued at approximately $615,000. 60.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ARGX. Wedbush reaffirmed an "outperform" rating and set a $715.00 target price on shares of argenx in a research note on Friday, April 11th. Truist Financial reissued a "buy" rating and issued a $700.00 target price (up from $660.00) on shares of argenx in a research note on Tuesday, January 14th. Oppenheimer raised their price target on shares of argenx from $675.00 to $704.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. JMP Securities raised 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. Finally, HC Wainwright reiterated a "buy" rating and set a $720.00 price objective on shares of argenx in a research report on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $699.28.

argenx Price Performance

Shares of NASDAQ ARGX traded down $3.15 during mid-day trading on Wednesday, hitting $596.72. 105,086 shares of the company's stock traded hands, compared to its average volume of 307,954. The company's 50-day moving average is $600.43 and its two-hundred day moving average is $606.78. argenx SE has a 1 year low of $352.77 and a 1 year high of $678.21. The company has a market capitalization of $36.44 billion, a P/E ratio of -678.09 and a beta of 0.60.

argenx (NASDAQ:ARGX - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.60. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The business had revenue of $761.22 million during the quarter, compared to analyst estimates of $678.52 million. Equities analysts anticipate that argenx SE will post 3.13 EPS for the current fiscal year.

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.