Sumitomo Mitsui Trust Holdings Inc. Raises Position in argenx SE (NASDAQ:ARGX)

Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of argenx SE (NASDAQ:ARGX) by 68.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,750 shares of the company’s stock after purchasing an additional 713 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in argenx were worth $666,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its position in shares of argenx by 30.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 14,470 shares of the company’s stock valued at $5,505,000 after acquiring an additional 3,374 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of argenx by 388.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,719 shares of the company’s stock valued at $1,415,000 after acquiring an additional 2,958 shares in the last quarter. RTW Investments LP increased its position in shares of argenx by 5.2% during the third quarter. RTW Investments LP now owns 507,195 shares of the company’s stock valued at $249,352,000 after acquiring an additional 25,000 shares in the last quarter. Townsquare Capital LLC increased its position in shares of argenx by 96.6% during the third quarter. Townsquare Capital LLC now owns 3,442 shares of the company’s stock valued at $1,692,000 after acquiring an additional 1,691 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of argenx by 41.1% during the third quarter. Northern Trust Corp now owns 39,936 shares of the company’s stock valued at $19,634,000 after acquiring an additional 11,627 shares in the last quarter. Institutional investors own 60.32% of the company’s stock.

argenx Stock Performance

ARGX opened at $368.60 on Friday. argenx SE has a fifty-two week low of $327.73 and a fifty-two week high of $550.76. The firm’s fifty day moving average is $386.41 and its 200 day moving average is $418.17. The stock has a market cap of $21.91 billion, a price-to-earnings ratio of -71.71 and a beta of 0.65.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, February 29th. The company reported ($1.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.45). argenx had a negative net margin of 23.26% and a negative return on equity of 16.97%. The firm had revenue of $417.84 million for the quarter, compared to analysts’ expectations of $378.60 million. During the same quarter last year, the firm posted ($0.70) EPS. On average, equities research analysts predict that argenx SE will post -2.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ARGX shares. Truist Financial lifted their target price on shares of argenx from $370.00 to $440.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $471.00 target price on shares of argenx in a research report on Friday, March 22nd. Wolfe Research started coverage on shares of argenx in a research report on Thursday, February 15th. They issued a “peer perform” rating for the company. Piper Sandler lifted their target price on shares of argenx from $518.00 to $522.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Finally, Wells Fargo & Company lifted their target price on shares of argenx from $472.00 to $478.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $528.16.

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.