31,069 argenex SE $ARGX Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings cut its argenex stake by 18.2%, selling 31,069 shares in the third quarter. It retained 139,760 shares, valued at about $130.8 million.
• argenex reported quarterly earnings of $7.80 per share, above analysts’ $7.44 consensus, and revenue of $1.75 billion.
• Analyst sentiment was broadly positive: the stock had a “Moderate Buy” consensus rating and an average price target of $1,158.76.

Allspring Global Investments Holdings LLC reduced its holdings in shares of argenex SE (NASDAQ:ARGX - Free Report) by 18.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,760 shares of the company's stock after selling 31,069 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.22% of argenex worth $130,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. AlphaCentric Advisors LLC boosted its holdings in argenex by 1.9% in the third quarter. AlphaCentric Advisors LLC now owns 1,841 shares of the company's stock worth $1,765,000 after purchasing an additional 35 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of argenex in the third quarter worth $274,000. CenterBook Partners LP increased its position in argenex by 2,473.9% during the third quarter. CenterBook Partners LP now owns 12,226 shares of the company's stock valued at $11,724,000 after acquiring an additional 11,751 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in argenex during the third quarter valued at $327,000. Finally, Commonwealth Equity Services LLC increased its position in argenex by 8.7% during the third quarter. Commonwealth Equity Services LLC now owns 639 shares of the company's stock valued at $613,000 after acquiring an additional 51 shares during the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenex Stock Performance

Shares of argenex stock opened at $927.21 on Monday. The company has a market capitalization of $58.31 billion, a P/E ratio of 32.35, a P/E/G ratio of 0.86 and a beta of 0.48. The company has a fifty day moving average of $930.66 and a 200 day moving average of $857.30. argenex SE has a fifty-two week low of $661.85 and a fifty-two week high of $1,072.75.

argenex (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings results on Friday, October 23rd. The company reported $7.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.44 by $0.36. The business had revenue of $1.75 billion during the quarter. argenex had a return on equity of 47.70% and a net margin of 31.66%. Analysts forecast that argenex SE will post 28.41 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ARGX. Piper Sandler raised their target price on argenex from $1,075.00 to $1,215.00 and gave the stock an "overweight" rating in a research report on Monday, August 17th. Oppenheimer cut their price target on argenex from $1,100.00 to $1,038.00 and set an "outperform" rating for the company in a research note on Monday, October 12th. Citizens Jmp upped their price target on shares of argenex from $932.00 to $1,200.00 and gave the company a "market outperform" rating in a research report on Tuesday, August 18th. Guggenheim lowered their price objective on shares of argenex from $1,185.00 to $1,120.00 and set a "buy" rating on the stock in a research note on Friday, October 23rd. Finally, Barclays reissued a "buy" rating on shares of argenex in a report on Monday, September 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $1,158.76.

About argenex

argenx SE is a global immunology company focused on developing medicines for autoimmune diseases. Founded in 2008 and headquartered in the Netherlands, the company uses antibody engineering and other research approaches to identify and develop treatments for conditions with significant unmet medical needs.

Its lead medicine is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo. These products target the neonatal Fc receptor (FcRn) and are approved in the United States for certain patients with generalized myasthenia gravis; Vyvgart Hytrulo is also approved for chronic inflammatory demyelinating polyneuropathy.

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