New York State Common Retirement Fund Trims Holdings in argenx SE (NASDAQ:ARGX)

New York State Common Retirement Fund cut its position in shares of argenx SE (NASDAQ:ARGX - Free Report) by 12.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 104,534 shares of the company's stock after selling 15,449 shares during the quarter. New York State Common Retirement Fund owned 0.18% of argenx worth $56,666,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of ARGX. Norden Group LLC purchased a new stake in shares of argenx in the first quarter valued at about $1,465,000. First Trust Direct Indexing L.P. grew its holdings in argenx by 9.6% during the 1st quarter. First Trust Direct Indexing L.P. now owns 1,818 shares of the company's stock valued at $716,000 after buying an additional 159 shares during the last quarter. Maryland State Retirement & Pension System increased its position in argenx by 60.4% during the first quarter. Maryland State Retirement & Pension System now owns 3,093 shares of the company's stock worth $1,121,000 after buying an additional 1,165 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of argenx by 7.2% in the first quarter. BNP Paribas Financial Markets now owns 119,019 shares of the company's stock worth $46,860,000 after acquiring an additional 7,971 shares during the last quarter. Finally, FORA Capital LLC acquired a new position in shares of argenx in the first quarter worth $2,024,000. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wedbush raised their price target on shares of argenx from $519.00 to $560.00 and gave the stock an "outperform" rating in a research note on Friday, July 26th. Raymond James reaffirmed a "strong-buy" rating and issued a $605.00 target price on shares of argenx in a research note on Thursday, October 10th. Baird R W downgraded argenx from a "strong-buy" rating to a "hold" rating in a report on Friday. Oppenheimer raised their price objective on argenx from $560.00 to $646.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Evercore ISI upped their target price on argenx from $478.00 to $533.00 and gave the company an "outperform" rating in a research note on Friday, July 12th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $596.78.

argenx Stock Up 1.6 %

Shares of ARGX stock traded up $9.28 during mid-day trading on Friday, reaching $595.58. The company's stock had a trading volume of 468,633 shares, compared to its average volume of 309,272. The firm has a market capitalization of $35.61 billion, a PE ratio of -676.80 and a beta of 0.63. The company's 50 day simple moving average is $539.46 and its 200-day simple moving average is $465.81. argenx SE has a 12-month low of $327.73 and a 12-month high of $610.73.

argenx (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $1.29. The firm had revenue of $588.88 million during the quarter, compared to the consensus estimate of $543.29 million. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. During the same period in the prior year, the firm earned ($1.25) EPS. As a group, research analysts anticipate that argenx SE will post -0.36 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.