Persistent Asset Partners Ltd Cuts Stake in argenex SE $ARGX

Persistent Asset Partners Ltd cut its stake in argenex SE (NASDAQ:ARGX) by 50.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,377 shares of the company’s stock after selling 1,389 shares during the quarter. Persistent Asset Partners Ltd’s holdings in argenex were worth $759,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Millennium Management LLC lifted its position in shares of argenex by 316.9% in the first quarter. Millennium Management LLC now owns 268,604 shares of the company’s stock valued at $158,977,000 after acquiring an additional 204,180 shares in the last quarter. BNP Paribas Financial Markets raised its stake in argenex by 1,203.4% in the 1st quarter. BNP Paribas Financial Markets now owns 133,359 shares of the company’s stock valued at $78,931,000 after purchasing an additional 123,127 shares during the last quarter. Braidwell LP lifted its holdings in argenex by 99.2% in the 1st quarter. Braidwell LP now owns 160,849 shares of the company’s stock valued at $95,201,000 after purchasing an additional 80,083 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in argenex by 33.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 274,700 shares of the company’s stock worth $162,585,000 after purchasing an additional 68,498 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of argenex by 244.6% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 87,414 shares of the company’s stock worth $48,184,000 after buying an additional 62,044 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

argenex Price Performance

Shares of ARGX opened at $907.98 on Friday. The firm has a 50-day simple moving average of $799.34 and a two-hundred day simple moving average of $672.62. The stock has a market cap of $55.90 billion, a PE ratio of 38.99, a P/E/G ratio of 0.93 and a beta of 0.45. argenex SE has a 1-year low of $510.05 and a 1-year high of $914.87.

argenex (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, October 30th. The company reported $4.40 earnings per share for the quarter, topping analysts’ consensus estimates of $4.37 by $0.03. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.07 billion. argenex had a net margin of 41.58% and a return on equity of 29.78%. As a group, sell-side analysts expect that argenex SE will post 3.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of argenex from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. Evercore ISI upped their price target on argenex from $775.00 to $910.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Stifel Nicolaus set a $882.00 price objective on argenex in a research report on Thursday, September 18th. Guggenheim reissued a “buy” rating and set a $1,070.00 price objective on shares of argenex in a research note on Thursday, September 18th. Finally, Morgan Stanley raised their target price on argenex from $766.00 to $1,040.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, argenex presently has an average rating of “Moderate Buy” and a consensus price target of $885.94.

argenex Company 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.