DAVENPORT & Co LLC Boosts Holdings in argenx SE (NASDAQ:ARGX)

DAVENPORT & Co LLC grew its holdings in argenx SE (NASDAQ:ARGX) by 10.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,553 shares of the company’s stock after purchasing an additional 146 shares during the quarter. DAVENPORT & Co LLC’s holdings in argenx were worth $591,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. KB Financial Partners LLC lifted its stake in argenx by 112.5% in the first quarter. KB Financial Partners LLC now owns 85 shares of the company’s stock worth $27,000 after acquiring an additional 45 shares during the last quarter. Parkside Financial Bank & Trust purchased a new position in argenx in the third quarter worth approximately $28,000. FNY Investment Advisers LLC purchased a new position in argenx in the fourth quarter worth approximately $38,000. Captrust Financial Advisors lifted its stake in argenx by 116.7% in the first quarter. Captrust Financial Advisors now owns 143 shares of the company’s stock worth $45,000 after acquiring an additional 77 shares during the last quarter. Finally, Nkcfo LLC lifted its stake in argenx by 22.1% in the third quarter. Nkcfo LLC now owns 116 shares of the company’s stock worth $57,000 after acquiring an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ARGX shares. William Blair downgraded shares of argenx from an “outperform” rating to a “market perform” rating in a research note on Wednesday, December 20th. Raymond James cut their price objective on shares of argenx from $580.00 to $520.00 and set a “strong-buy” rating on the stock in a report on Thursday, December 21st. Evercore ISI cut their price objective on shares of argenx from $594.00 to $436.00 and set an “outperform” rating on the stock in a report on Thursday, December 21st. JMP Securities reissued a “market outperform” rating and set a $471.00 price objective on shares of argenx in a report on Friday, March 22nd. Finally, Stifel Nicolaus raised their price objective on shares of argenx from $557.00 to $560.00 and gave the stock a “buy” rating in a report on Monday, December 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $530.74.

argenx Stock Performance

Shares of ARGX opened at $386.71 on Tuesday. The stock has a market capitalization of $22.93 billion, a P/E ratio of -75.24 and a beta of 0.65. The company’s fifty day moving average is $390.52 and its two-hundred day moving average is $427.45. argenx SE has a 1 year low of $327.73 and a 1 year high of $550.76.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($1.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.45). The firm had revenue of $417.84 million during the quarter, compared to analyst estimates of $378.60 million. argenx had a negative net margin of 23.26% and a negative return on equity of 16.97%. During the same period in the prior year, the firm posted ($0.70) earnings per share. Sell-side analysts predict that argenx SE will post -2 EPS for the current 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.