argenex SE $ARGX Shares Sold by Aberdeen Group plc

Key Points

• Aberdeen Group plc sold 6,672 shares of argenex SE, reducing its stake by 10.9% to a total of 54,590 shares, valued at approximately $32.31 million.
• Institutional investors own 60.32% of argenex's shares, with notable recent investments from Kovitz Investment Group Partners LLC and Lord Abbett & CO. LLC.
• Argentex SE reported a quarterly EPS of $3.74, significantly exceeding analysts' expectations of $2.84, with a revenue of $866.79 million for the quarter.

Aberdeen Group plc decreased its holdings in argenex SE (NASDAQ:ARGX - Free Report) by 10.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,590 shares of the company's stock after selling 6,672 shares during the quarter. Aberdeen Group plc owned approximately 0.09% of argenex worth $32,310,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GeoWealth Management LLC grew its holdings in argenex by 56.3% in the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company's stock valued at $31,000 after buying an additional 18 shares during the period. Rakuten Securities Inc. grew its holdings in argenex by 56.4% in the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock valued at $36,000 after buying an additional 22 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in argenex in the 4th quarter valued at about $38,000. Golden State Wealth Management LLC purchased a new stake in argenex in the 1st quarter valued at about $44,000. Finally, Raiffeisen Bank International AG purchased a new stake in argenex in the 1st quarter valued at about $76,000. Hedge funds and other institutional investors own 60.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Baird R W upgraded argenex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. lifted their price target on shares of argenex from $775.00 to $830.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. JMP Securities set a $699.00 price target on shares of argenex in a research report on Wednesday, May 14th. Wedbush reaffirmed an "outperform" rating and set a $715.00 price target on shares of argenex in a research report on Monday, July 21st. Finally, Guggenheim lifted their price target on shares of argenex from $1,060.00 to $1,070.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $746.81.

argenex Price Performance

NASDAQ ARGX traded up $4.08 on Wednesday, reaching $660.97. The company had a trading volume of 222,631 shares, compared to its average volume of 375,707. The firm has a market capitalization of $40.45 billion, a PE ratio of 33.90, a P/E/G ratio of 0.76 and a beta of 0.39. argenex SE has a 1 year low of $510.05 and a 1 year high of $696.21. The firm has a 50-day moving average of $590.28 and a 200-day moving average of $597.56.

argenex (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $3.74 earnings per share for the quarter, topping analysts' consensus estimates of $2.84 by $0.90. The firm had revenue of $866.79 million during the quarter, compared to analysts' expectations of $776.82 million. argenex had a return on equity of 21.06% and a net margin of 40.98%. As a group, sell-side analysts expect that argenex SE will post 3.13 EPS for the current fiscal 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.