Simplify Asset Management Inc. Reduces Stake in argenx SE (NASDAQ:ARGX)

Simplify Asset Management Inc. lowered its stake in argenx SE (NASDAQ:ARGX) by 33.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,611 shares of the company’s stock after selling 808 shares during the quarter. Simplify Asset Management Inc.’s holdings in argenx were worth $991,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ARGX. Stifel Financial Corp boosted its position in shares of argenx by 15.3% in the third quarter. Stifel Financial Corp now owns 8,832 shares of the company’s stock valued at $4,788,000 after acquiring an additional 1,170 shares during the period. FMR LLC lifted its stake in argenx by 35.9% in the 3rd quarter. FMR LLC now owns 4,793,472 shares of the company’s stock worth $2,598,445,000 after purchasing an additional 1,265,486 shares in the last quarter. Stephens Inc. AR bought a new position in argenx in the 4th quarter valued at $310,000. Ritholtz Wealth Management grew its position in shares of argenx by 85.5% during the 4th quarter. Ritholtz Wealth Management now owns 898 shares of the company’s stock valued at $552,000 after purchasing an additional 414 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in shares of argenx during the 3rd quarter valued at $571,000. Hedge funds and other institutional investors own 60.32% of the company’s stock.

argenx Stock Performance

Shares of ARGX stock opened at $615.02 on Friday. The company has a market capitalization of $37.37 billion, a P/E ratio of -698.89 and a beta of 0.59. argenx SE has a fifty-two week low of $352.77 and a fifty-two week high of $678.21. The stock has a 50 day moving average price of $634.69 and a two-hundred day moving average price of $599.74.

argenx (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, February 27th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.60. The company had revenue of $761.22 million during the quarter, compared to analyst estimates 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, equities analysts predict that argenx SE will post 3.13 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ARGX shares. Truist Financial reissued a “buy” rating and set a $700.00 price objective (up previously from $660.00) on shares of argenx in a research note on Tuesday, January 14th. Robert W. Baird boosted their price objective on argenx from $650.00 to $680.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. HC Wainwright upped their price objective on shares of argenx from $717.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Guggenheim lifted their target price on shares of argenx from $775.00 to $1,100.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Finally, Sanford C. Bernstein raised shares of argenx from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, argenx presently has a consensus rating of “Moderate Buy” and a consensus target price of $687.00.

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.