abrdn plc Sells 6,000 Shares of argenx SE (NASDAQ:ARGX)

abrdn plc trimmed its position in shares of argenx SE (NASDAQ:ARGX) by 8.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,262 shares of the company’s stock after selling 6,000 shares during the period. abrdn plc owned 0.10% of argenx worth $37,676,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ARGX. Stifel Financial Corp grew its stake in argenx by 15.3% during 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 in the last quarter. FMR LLC grew its stake in 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. grew its stake in argenx by 64.0% during the third quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock valued at $1,311,000 after acquiring an additional 944 shares in the last quarter. Perpetual Ltd purchased a new position in argenx during the third quarter valued at $76,314,000. Finally, Ritholtz Wealth Management grew its stake in argenx by 85.5% during 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. 60.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ARGX has been the subject of a number of recent research reports. Scotiabank raised shares of argenx from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $439.00 to $715.00 in a research note on Tuesday, November 5th. Robert W. Baird cut shares of argenx from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $515.00 to $650.00 in a research note on Friday, November 1st. Piper Sandler lifted their price objective on shares of argenx from $620.00 to $725.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Oppenheimer reissued an “outperform” rating and issued a $675.00 price objective (up from $646.00) on shares of argenx in a research note on Thursday, November 21st. Finally, Evercore ISI lifted their price objective on shares of argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, argenx currently has a consensus rating of “Moderate Buy” and an average target price of $658.39.

argenx Price Performance

Shares of ARGX opened at $671.74 on Thursday. argenx SE has a 1-year low of $349.86 and a 1-year high of $678.21. The company has a 50-day moving average of $635.64 and a 200 day moving average of $574.35. The firm has a market capitalization of $40.81 billion, a price-to-earnings ratio of -763.34 and a beta of 0.58.

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.