EFG Asset Management North America Corp. Reduces Stake in argenex SE $ARGX

Key Points

• EFG Asset Management North America Corp. has reduced its stake in argenex SE by 26.0%, owning 10,755 shares following the sale of 3,769 shares, representing about 1.1% of their portfolio.
• Point72 Asset Management L.P. recently acquired a new position valued at approximately $91 million, while GAMMA Investing LLC significantly increased its stake by 53,684.9% to own 135,538 shares worth $802.2 million.
• Argenex reported earnings that exceeded expectations, with $3.74 earnings per share against a consensus estimate of $2.84, and total revenue of $866.79 million for the recent quarter.

EFG Asset Management North America Corp. lowered its stake in shares of argenex SE (NASDAQ:ARGX - Free Report) by 26.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,755 shares of the company's stock after selling 3,769 shares during the quarter. argenex accounts for 1.1% of EFG Asset Management North America Corp.'s investment portfolio, making the stock its 17th largest holding. EFG Asset Management North America Corp.'s holdings in argenex were worth $6,366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of ARGX. Dimensional Fund Advisors LP grew its holdings in argenex by 21.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 24,929 shares of the company's stock worth $15,332,000 after buying an additional 4,445 shares in the last quarter. Northern Trust Corp boosted its position in argenex by 42.7% in the fourth quarter. Northern Trust Corp now owns 54,128 shares of the company's stock worth $33,289,000 after purchasing an additional 16,188 shares during the last quarter. Ameriprise Financial Inc. boosted its position in argenex by 10.0% in the fourth quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company's stock worth $4,313,000 after purchasing an additional 639 shares during the last quarter. BNP Paribas Financial Markets boosted its position in argenex by 138.4% in the fourth quarter. BNP Paribas Financial Markets now owns 10,232 shares of the company's stock worth $6,293,000 after purchasing an additional 5,940 shares during the last quarter. Finally, Bayesian Capital Management LP boosted its position in argenex by 38.0% in the fourth quarter. Bayesian Capital Management LP now owns 621 shares of the company's stock worth $382,000 after purchasing an additional 171 shares during the last quarter. Institutional investors own 60.32% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised argenex from a "hold" rating to a "buy" rating in a research report on Tuesday, July 8th. Jefferies Financial Group set a $818.00 price objective on argenex and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Wedbush reissued an "outperform" rating and issued a $800.00 price objective on shares of argenex in a research report on Monday, August 25th. Baird R W raised argenex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company boosted their price objective on argenex from $741.00 to $756.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Two analysts have rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $772.84.

argenex Price Performance

Shares of NASDAQ ARGX traded up $17.22 during trading on Monday, reaching $768.00. 344,685 shares of the stock traded hands, compared to its average volume of 377,083. argenex SE has a 52-week low of $510.05 and a 52-week high of $768.02. The company has a 50-day moving average of $627.89 and a 200-day moving average of $602.06. The stock has a market capitalization of $47.00 billion, a P/E ratio of 39.38, a price-to-earnings-growth ratio of 0.80 and a beta of 0.41.

argenex (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $3.74 EPS 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 firm had revenue of $866.79 million for the quarter, compared to analysts' expectations of $776.82 million. Analysts expect that argenex SE will post 3.13 earnings per share for the current fiscal 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.