Rock Springs Capital Management LP Sells 3,900 Shares of argenx SE (NASDAQ:ARGX)

Rock Springs Capital Management LP decreased its position in argenx SE (NASDAQ:ARGX) by 1.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 229,600 shares of the company’s stock after selling 3,900 shares during the period. argenx comprises 5.4% of Rock Springs Capital Management LP’s portfolio, making the stock its biggest position. Rock Springs Capital Management LP owned about 0.38% of argenx worth $141,204,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Stephens Inc. AR acquired a new position in argenx during the fourth quarter worth $310,000. Ritholtz Wealth Management lifted its position in argenx by 85.5% during the 4th quarter. Ritholtz Wealth Management now owns 898 shares of the company’s stock worth $552,000 after buying an additional 414 shares in the last quarter. Jones Financial Companies Lllp boosted its stake 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 buying an additional 61 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of argenx in the 3rd quarter valued at about $652,000. Finally, Park Avenue Securities LLC increased its position in shares of argenx by 40.0% in the fourth quarter. Park Avenue Securities LLC now owns 1,695 shares of the company’s stock valued at $1,042,000 after acquiring an additional 484 shares during the last quarter. 60.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ARGX has been the subject of a number of analyst reports. William Blair restated an “outperform” rating on shares of argenx in a research note on Friday, February 28th. JMP Securities boosted their target price on shares of argenx from $606.00 to $696.00 and gave the stock a “market outperform” rating in a report on Tuesday, January 14th. Guggenheim upped their price target on shares of argenx from $775.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Sanford C. Bernstein raised shares of argenx from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $715.00 target price on shares of argenx in a report on Friday, April 11th. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $699.28.

argenx Stock Performance

NASDAQ:ARGX opened at $596.20 on Monday. argenx SE has a 52 week low of $352.77 and a 52 week high of $678.21. The firm’s 50-day simple moving average is $602.53 and its 200 day simple moving average is $606.37. The firm has a market cap of $36.23 billion, a price-to-earnings ratio of -677.50 and a beta of 0.60.

argenx (NASDAQ:ARGX) last announced its earnings results on Thursday, February 27th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $0.98 by $0.60. The company had revenue of $761.22 million for the quarter, compared to analysts’ expectations of $678.52 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. Sell-side analysts anticipate that argenx SE will post 3.13 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.