Point72 Asia Singapore Pte. Ltd. Takes $38,000 Position in argenx SE (NASDAQ:ARGX)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of argenx SE (NASDAQ:ARGX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 62 shares of the company’s stock, valued at approximately $38,000.

Other institutional investors have also recently made changes to their positions in the company. Point72 Europe London LLP purchased a new position in argenx in the fourth quarter worth approximately $5,839,000. Stephens Inc. AR acquired a new position in shares of argenx in the 4th quarter valued at $310,000. Ritholtz Wealth Management grew its holdings in shares of argenx by 85.5% during the 4th quarter. Ritholtz Wealth Management now owns 898 shares of the company’s stock worth $552,000 after purchasing an additional 414 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of argenx by 1,016.7% during the 4th quarter. Jones Financial Companies Lllp now owns 67 shares of the company’s stock worth $41,000 after purchasing an additional 61 shares during the period. Finally, Park Avenue Securities LLC increased its position in shares of argenx by 40.0% during the 4th quarter. Park Avenue Securities LLC now owns 1,695 shares of the company’s stock worth $1,042,000 after purchasing an additional 484 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ARGX shares. JMP Securities set a $699.00 target price on shares of argenx in a research report on Wednesday. Oppenheimer upped their price objective on shares of argenx from $704.00 to $708.00 and gave the stock an “outperform” rating in a report on Friday, May 9th. Guggenheim dropped their target price on shares of argenx from $1,100.00 to $1,065.00 and set a “buy” rating for the company in a report on Friday, May 9th. Robert W. Baird raised argenx from a “neutral” rating to an “outperform” rating and set a $680.00 target price on the stock in a research report on Tuesday, May 13th. Finally, Baird R W upgraded argenx from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. One analyst has rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, argenx presently has an average rating of “Buy” and an average price target of $698.11.

argenx Stock Up 0.7%

Shares of NASDAQ:ARGX opened at $565.63 on Monday. argenx SE has a fifty-two week low of $356.38 and a fifty-two week high of $678.21. The firm’s 50 day moving average price is $591.63 and its 200 day moving average price is $613.54. The stock has a market cap of $34.54 billion, a price-to-earnings ratio of -642.76 and a beta of 0.57.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, May 8th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.26. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $748.34 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. On average, equities analysts anticipate that argenx SE will post 3.13 EPS 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.