Thrivent Financial for Lutherans Sells 5,384 Shares of argenx SE (NASDAQ:ARGX)

Thrivent Financial for Lutherans lessened its stake in argenx SE (NASDAQ:ARGX - Free Report) by 12.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,788 shares of the company's stock after selling 5,384 shares during the period. Thrivent Financial for Lutherans owned approximately 0.06% of argenx worth $15,820,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ARGX. Price T Rowe Associates Inc. MD raised its holdings in argenx by 49.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,504,506 shares of the company's stock worth $2,167,235,000 after purchasing an additional 1,830,651 shares in the last quarter. Capital World Investors boosted its holdings in shares of argenx by 37.0% in the fourth quarter. Capital World Investors now owns 1,961,202 shares of the company's stock worth $746,099,000 after buying an additional 530,181 shares during the last quarter. Janus Henderson Group PLC raised its stake in argenx by 24.8% during the 1st quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company's stock worth $872,690,000 after acquiring an additional 439,889 shares during the period. Avoro Capital Advisors LLC raised its stake in argenx by 23.5% during the 4th quarter. Avoro Capital Advisors LLC now owns 1,234,567 shares of the company's stock worth $469,666,000 after acquiring an additional 234,567 shares during the period. Finally, RTW Investments LP raised its position in shares of argenx by 31.5% during the fourth quarter. RTW Investments LP now owns 667,195 shares of the company's stock valued at $253,821,000 after buying an additional 160,000 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ARGX shares. Wedbush boosted their price target on shares of argenx from $519.00 to $560.00 and gave the stock an "outperform" rating in a research report on Friday, July 26th. HC Wainwright upped their price objective on shares of argenx from $504.00 to $533.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. William Blair reiterated a "market perform" rating on shares of argenx in a report on Monday, June 17th. Guggenheim upped their price objective on shares of argenx from $545.00 to $585.00 and gave the company a "buy" rating in a report on Friday, July 26th. Finally, Barclays upgraded argenx from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $547.74.

argenx Price Performance

Shares of ARGX traded up $29.25 on Wednesday, reaching $549.01. 346,097 shares of the stock traded hands, compared to its average volume of 320,924. The stock's 50-day moving average price is $514.88 and its 200-day moving average price is $434.97. argenx SE has a 12 month low of $327.73 and a 12 month high of $554.74. The firm has a market cap of $32.83 billion, a price-to-earnings ratio of -96.75 and a beta of 0.62.

argenx (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $1.34. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. The business had revenue of $489.43 million for the quarter, compared to analyst estimates of $436.66 million. During the same quarter in the prior year, the firm posted ($1.69) earnings per share. As a group, equities research analysts forecast that argenx SE will post -0.37 earnings per share for the current fiscal year.

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.