Norden Group LLC Sells 55 Shares of argenx SE (NASDAQ:ARGX)

Norden Group LLC lessened its stake in argenx SE (NASDAQ:ARGX) by 11.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 441 shares of the company’s stock after selling 55 shares during the period. Norden Group LLC’s holdings in argenx were worth $271,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Stifel Financial Corp grew its stake in shares of argenx by 15.3% in the third quarter. Stifel Financial Corp now owns 8,832 shares of the company’s stock worth $4,788,000 after purchasing an additional 1,170 shares during the last quarter. FMR LLC raised its holdings in shares of argenx by 35.9% during the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after acquiring an additional 1,265,486 shares in the last quarter. Simplify Asset Management Inc. lifted its stake in argenx by 64.0% in the third quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock worth $1,311,000 after acquiring an additional 944 shares during the period. Stephens Inc. AR bought a new stake in argenx in the fourth quarter valued at $310,000. Finally, Ritholtz Wealth Management boosted its holdings in argenx by 85.5% in the fourth quarter. Ritholtz Wealth Management now owns 898 shares of the company’s stock valued at $552,000 after acquiring an additional 414 shares in the last quarter. Institutional investors own 60.32% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of argenx from $723.00 to $741.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft downgraded shares of argenx from a “hold” rating to a “sell” rating in a research note on Friday, January 17th. William Blair reaffirmed an “outperform” rating on shares of argenx in a research report on Friday, February 28th. Piper Sandler increased their target price on argenx from $620.00 to $725.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Finally, Scotiabank upgraded argenx from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $439.00 to $715.00 in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $662.83.

argenx Stock Performance

Shares of NASDAQ ARGX opened at $621.25 on Wednesday. The company has a market cap of $37.75 billion, a PE ratio of -705.97 and a beta of 0.58. The firm’s 50 day moving average price is $642.51 and its 200-day moving average price is $591.91. argenx SE has a 52-week low of $349.86 and a 52-week high of $678.21.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.60. The business had revenue of $761.22 million for the quarter, compared to analysts’ expectations of $678.52 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. On average, analysts forecast that argenx SE will post 3.13 earnings per share 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.