Fmr LLC Acquires 1,265,486 Shares of argenx SE (NASDAQ:ARGX)

FMR LLC lifted its position in shares of argenx SE (NASDAQ:ARGX - Free Report) by 35.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,793,472 shares of the company's stock after acquiring an additional 1,265,486 shares during the period. FMR LLC owned approximately 8.02% of argenx worth $2,598,445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Perpetual Ltd acquired a new stake in shares of argenx in the 3rd quarter valued at approximately $76,314,000. Logos Global Management LP acquired a new stake in argenx in the second quarter valued at approximately $58,055,000. Sei Investments Co. grew its stake in shares of argenx by 15.2% during the second quarter. Sei Investments Co. now owns 381,544 shares of the company's stock worth $164,079,000 after buying an additional 50,477 shares during the last quarter. Tri Locum Partners LP increased its holdings in shares of argenx by 166.5% during the second quarter. Tri Locum Partners LP now owns 74,558 shares of the company's stock worth $32,063,000 after buying an additional 46,577 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of argenx in the 3rd quarter valued at $15,609,000. Institutional investors and hedge funds own 60.32% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Citigroup boosted their price objective on argenx from $512.00 to $635.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Guggenheim upped their price objective on argenx from $585.00 to $665.00 and gave the company a "buy" rating in a research note on Friday, November 1st. JMP Securities lifted their target price on shares of argenx from $497.00 to $606.00 and gave the stock a "market outperform" rating in a research report on Friday, November 1st. HC Wainwright reiterated a "buy" rating and issued a $617.00 target price on shares of argenx in a report on Wednesday, November 20th. Finally, Scotiabank upgraded shares of argenx from a "sector perform" rating to a "sector outperform" rating and increased their price objective for the stock from $439.00 to $715.00 in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $630.42.

argenx Stock Up 0.3 %

ARGX stock traded up $1.98 during midday trading on Tuesday, reaching $607.64. 191,271 shares of the company's stock traded hands, compared to its average volume of 309,759. argenx SE has a 52 week low of $327.73 and a 52 week high of $618.40. The company has a market cap of $36.68 billion, a price-to-earnings ratio of -687.50 and a beta of 0.61. The firm's fifty day moving average price is $559.08 and its 200-day moving average price is $491.13.

argenx (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $1.29. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The firm had revenue of $588.88 million for the quarter, compared to the consensus estimate of $543.29 million. During the same period in the previous year, the firm earned ($1.25) EPS. Analysts forecast that argenx SE will post 2.2 earnings per share for the current year.

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.