Allspring Global Investments Holdings LLC Raises Stake in argenx SE (NASDAQ:ARGX)

Allspring Global Investments Holdings LLC grew its holdings in argenx SE (NASDAQ:ARGX) by 38,152.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 144,211 shares of the company’s stock after buying an additional 143,834 shares during the period. Allspring Global Investments Holdings LLC’s holdings in argenx were worth $89,391,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Advisors Preferred LLC purchased a new stake in argenx during the 4th quarter valued at approximately $73,000. Cromwell Holdings LLC increased its holdings in shares of argenx by 73.3% in the third quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock valued at $85,000 after purchasing an additional 66 shares during the period. GAMMA Investing LLC raised its stake in shares of argenx by 44.8% during the fourth quarter. GAMMA Investing LLC now owns 252 shares of the company’s stock worth $155,000 after purchasing an additional 78 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of argenx by 6.2% during the fourth quarter. SG Americas Securities LLC now owns 358 shares of the company’s stock worth $220,000 after purchasing an additional 21 shares during the period. Finally, Fulton Bank N.A. purchased a new position in argenx in the 4th quarter valued at $226,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ARGX. Piper Sandler upped their price objective on shares of argenx from $620.00 to $725.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. William Blair raised shares of argenx from a “market perform” rating to an “outperform” rating in a report on Friday, November 1st. Oppenheimer reaffirmed an “outperform” rating and issued a $675.00 price objective (up previously from $646.00) on shares of argenx in a report on Thursday, November 21st. Truist Financial reissued a “buy” rating and set a $700.00 target price (up from $660.00) on shares of argenx in a research note on Tuesday, January 14th. Finally, Citigroup lifted their price target on argenx from $512.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, argenx presently has a consensus rating of “Moderate Buy” and a consensus target price of $658.39.

argenx Price Performance

Shares of NASDAQ ARGX opened at $649.09 on Thursday. The firm’s 50-day moving average is $638.76 and its two-hundred day moving average is $580.34. argenx SE has a 12-month low of $349.86 and a 12-month high of $678.21. The company has a market capitalization of $39.44 billion, a PE ratio of -737.60 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.