Wellington Management Group LLP Sells 57,372 Shares of argenx SE (NASDAQ:ARGX)

Wellington Management Group LLP cut its stake in shares of argenx SE (NASDAQ:ARGX - Free Report) by 11.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 424,974 shares of the company's stock after selling 57,372 shares during the period. Wellington Management Group LLP owned approximately 0.70% of argenx worth $261,359,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its position in shares of argenx by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 2,479,207 shares of the company's stock worth $1,343,797,000 after buying an additional 10,975 shares during the period. Clearbridge Investments LLC grew its holdings in argenx by 6.8% during the fourth quarter. Clearbridge Investments LLC now owns 629,828 shares of the company's stock valued at $387,344,000 after purchasing an additional 40,330 shares during the period. Jennison Associates LLC grew its holdings in argenx by 27.0% during the fourth quarter. Jennison Associates LLC now owns 302,149 shares of the company's stock valued at $185,821,000 after purchasing an additional 64,183 shares during the period. Lord Abbett & CO. LLC bought a new stake in argenx in the third quarter valued at approximately $88,339,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in argenx by 38,152.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 144,211 shares of the company's stock worth $89,391,000 after purchasing an additional 143,834 shares during the period. Institutional investors own 60.32% of the company's stock.

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argenx Trading Down 5.9 %

Shares of NASDAQ:ARGX traded down $34.95 during trading on Friday, hitting $555.11. 547,357 shares of the company were exchanged, compared to its average volume of 297,480. argenx SE has a fifty-two week low of $352.77 and a fifty-two week high of $678.21. The stock has a market cap of $33.73 billion, a price-to-earnings ratio of -630.81 and a beta of 0.60. The firm has a fifty day moving average price of $621.43 and a two-hundred day moving average price of $603.70.

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

Wall Street Analysts Forecast Growth

ARGX has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on shares of argenx from $723.00 to $741.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Robert W. Baird raised their price target on argenx from $650.00 to $680.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. William Blair reiterated an "outperform" rating on shares of argenx in a research report on Friday, February 28th. HC Wainwright raised their target price on shares of argenx from $717.00 to $720.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of argenx from a "sell" rating to a "hold" rating in a report on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $687.00.

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.