Mirabella Financial Services LLP Trims Stake in argenex SE $ARGX

Mirabella Financial Services LLP reduced its stake in argenex SE (NASDAQ:ARGX) by 73.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,217 shares of the company’s stock after selling 3,349 shares during the period. Mirabella Financial Services LLP’s holdings in argenex were worth $674,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Kennedy Capital Management LLC grew its holdings in shares of argenex by 87.9% during the 2nd quarter. Kennedy Capital Management LLC now owns 2,251 shares of the company’s stock worth $1,241,000 after acquiring an additional 1,053 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of argenex by 49.6% during the second quarter. EverSource Wealth Advisors LLC now owns 175 shares of the company’s stock valued at $96,000 after purchasing an additional 58 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of argenex by 120.1% during the second quarter. Quantbot Technologies LP now owns 306 shares of the company’s stock valued at $169,000 after purchasing an additional 167 shares in the last quarter. Panagora Asset Management Inc. purchased a new stake in argenex in the second quarter worth $1,338,000. Finally, West Family Investments Inc. purchased a new stake in argenex in the second quarter worth $287,000. 60.32% of the stock is owned by institutional investors.

argenex Stock Performance

Shares of NASDAQ ARGX opened at $901.17 on Friday. The firm’s 50 day moving average price is $850.63 and its 200-day moving average price is $705.66. argenex SE has a 52-week low of $510.05 and a 52-week high of $934.62. The company has a market cap of $55.49 billion, a PE ratio of 38.69, a P/E/G ratio of 0.92 and a beta of 0.37.

argenex (NASDAQ:ARGX) last announced its quarterly earnings results on Thursday, October 30th. The company reported $4.40 earnings per share for the quarter, beating the consensus estimate of $4.37 by $0.03. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.07 billion. argenex had a net margin of 41.58% and a return on equity of 29.78%. On average, analysts forecast that argenex SE will post 3.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ARGX. Morgan Stanley raised their price objective on argenex from $1,070.00 to $1,110.00 and gave the company an “overweight” rating in a research report on Thursday. Wedbush boosted their price objective on shares of argenex from $880.00 to $1,000.00 and gave the stock an “outperform” rating in a research note on Friday, November 14th. HC Wainwright upped their price objective on shares of argenex from $774.00 to $915.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Jefferies Financial Group set a $818.00 target price on shares of argenex and gave the company a “buy” rating in a report on Tuesday, August 26th. Finally, Guggenheim reissued a “buy” rating and issued a $1,070.00 price target on shares of argenex in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $907.67.

About argenex

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.