argenex SE $ARGX Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management cut its stake in shares of argenex SE (NASDAQ:ARGX) by 20.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 715 shares of the company’s stock after selling 182 shares during the quarter. Ritholtz Wealth Management’s holdings in argenex were worth $394,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Lord Abbett & CO. LLC grew its position in shares of argenex by 33.2% during the first quarter. Lord Abbett & CO. LLC now owns 274,700 shares of the company’s stock worth $162,585,000 after buying an additional 68,498 shares in the last quarter. Millennium Management LLC grew its position in shares of argenex by 316.9% during the first quarter. Millennium Management LLC now owns 268,604 shares of the company’s stock worth $158,977,000 after buying an additional 204,180 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of argenex by 4.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 184,987 shares of the company’s stock worth $100,350,000 after buying an additional 8,537 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of argenex by 14.8% during the first quarter. Goldman Sachs Group Inc. now owns 168,765 shares of the company’s stock worth $99,886,000 after buying an additional 21,805 shares in the last quarter. Finally, Braidwell LP grew its position in shares of argenex by 99.2% during the first quarter. Braidwell LP now owns 160,849 shares of the company’s stock worth $95,201,000 after buying an additional 80,083 shares in the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wedbush boosted their price objective on argenex from $800.00 to $880.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Jefferies Financial Group set a $818.00 target price on argenex and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Wall Street Zen upgraded argenex from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Truist Financial boosted their target price on argenex from $700.00 to $918.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Finally, Deutsche Bank Aktiengesellschaft cut argenex from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, argenex has an average rating of “Buy” and a consensus target price of $817.53.

argenex Trading Up 0.7%

Shares of NASDAQ ARGX opened at $849.46 on Tuesday. argenex SE has a twelve month low of $510.05 and a twelve month high of $855.46. The stock has a 50 day moving average of $738.90 and a two-hundred day moving average of $638.36. The stock has a market cap of $52.30 billion, a P/E ratio of 43.56, a P/E/G ratio of 0.91 and a beta of 0.46.

argenex (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, July 31st. The company reported $3.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.90. argenex had a return on equity of 21.06% and a net margin of 40.98%.The company had revenue of $866.79 million during the quarter, compared to analysts’ expectations of $776.82 million. As a group, research analysts predict that argenex SE will post 3.13 earnings per share for the current year.

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.