Envestnet Asset Management Inc. Raises Holdings in argenx SE (NASDAQ:ARGX)

Envestnet Asset Management Inc. boosted its position in argenx SE (NASDAQ:ARGX - Free Report) by 10.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,037 shares of the company's stock after purchasing an additional 7,146 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.12% of argenx worth $46,148,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ARGX. Whipplewood Advisors LLC purchased a new stake in shares of argenx in the 4th quarter worth about $37,000. Global Retirement Partners LLC boosted its stake in argenx by 369.2% during the fourth quarter. Global Retirement Partners LLC now owns 61 shares of the company's stock worth $38,000 after acquiring an additional 48 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in argenx by 1,016.7% in the fourth quarter. Jones Financial Companies Lllp now owns 67 shares of the company's stock worth $41,000 after purchasing an additional 61 shares during the period. Huntington National Bank increased its stake in shares of argenx by 1,133.3% during the fourth quarter. Huntington National Bank now owns 74 shares of the company's stock valued at $46,000 after purchasing an additional 68 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of argenx by 78.6% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 75 shares of the company's stock valued at $46,000 after purchasing an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company's stock.

Remove Ads

argenx Stock Performance

Shares of argenx stock traded down $10.17 during trading hours on Wednesday, hitting $595.22. The company's stock had a trading volume of 80,248 shares, compared to its average volume of 307,977. The company has a market cap of $36.17 billion, a PE ratio of -676.16 and a beta of 0.60. The business has a 50 day moving average price of $605.51 and a two-hundred day moving average price of $604.95. argenx SE has a 12-month low of $352.77 and a 12-month high of $678.21.

argenx (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported $1.58 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $761.22 million for the quarter, compared to analysts' expectations of $678.52 million. As a group, research analysts anticipate that argenx SE will post 3.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ARGX shares. Truist Financial reaffirmed 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. Citigroup reiterated an "outperform" rating on shares of argenx in a research note on Friday, February 28th. William Blair reaffirmed an "outperform" rating on shares of argenx in a report on Friday, February 28th. Guggenheim increased their price target on shares of argenx from $775.00 to $1,100.00 and gave the company a "buy" rating in a report on Monday, March 10th. Finally, HC Wainwright restated a "buy" rating and issued a $720.00 price objective on shares of argenx in a report on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, argenx currently has an average rating of "Moderate Buy" and an average price target of $690.33.

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.