Steph & Co. Cuts Stock Holdings in argenex SE (NASDAQ:ARGX)

Steph & Co. cut its stake in shares of argenex SE (NASDAQ:ARGX) by 7.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 348 shares of the company’s stock after selling 26 shares during the quarter. Steph & Co.’s holdings in argenex were worth $206,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. FMR LLC increased its stake in argenex by 17.2% during the fourth quarter. FMR LLC now owns 5,618,222 shares of the company’s stock worth $3,455,207,000 after acquiring an additional 824,750 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in argenex during the 4th quarter worth approximately $91,013,000. GAMMA Investing LLC raised its holdings in argenex by 53,684.9% in the first quarter. GAMMA Investing LLC now owns 135,538 shares of the company’s stock valued at $802,200,000 after buying an additional 135,286 shares during the period. Marshall Wace LLP lifted its position in argenex by 184.7% during the fourth quarter. Marshall Wace LLP now owns 191,553 shares of the company’s stock valued at $117,805,000 after buying an additional 124,271 shares in the last quarter. Finally, Capital World Investors grew its stake in argenex by 5.1% during the fourth quarter. Capital World Investors now owns 1,786,936 shares of the company’s stock worth $1,099,002,000 after buying an additional 86,687 shares during the period. 60.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ARGX has been the topic of several recent research reports. Citigroup restated a “buy” rating on shares of argenex in a report on Wednesday, May 21st. JMP Securities set a $699.00 price objective on argenex in a research note on Wednesday, May 14th. HC Wainwright reiterated a “buy” rating and issued a $720.00 target price on shares of argenex in a research note on Tuesday, June 10th. Wedbush reissued an “outperform” rating and set a $715.00 price target on shares of argenex in a research report on Tuesday. Finally, Wells Fargo & Company increased their price objective on shares of argenex from $723.00 to $741.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $729.93.

argenex Price Performance

argenex stock opened at $568.06 on Wednesday. The company has a market cap of $34.69 billion, a PE ratio of 35.04, a P/E/G ratio of 0.98 and a beta of 0.39. argenex SE has a 12 month low of $428.76 and a 12 month high of $678.21. The company has a fifty day moving average price of $583.56 and a two-hundred day moving average price of $608.09.

argenex (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, May 8th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.26. argenex had a net margin of 40.20% and a return on equity of 16.15%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $748.34 million. Equities research analysts anticipate that argenex SE will post 3.13 earnings per share for the current year.

argenex 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.