argenex SE $ARGX Shares Sold by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB reduced its argenx position by 4.1% in the second quarter, selling 2,273 shares and retaining 52,653 shares valued at approximately $48.85 million. Institutional investors and hedge funds collectively own 60.32% of ARGX.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $1,056.89. Recent targets range from $940 to $1,291, while most analysts maintain Buy or Overweight ratings.
• argenx reported quarterly earnings of $7.32 per share, beating estimates of $5.86, while revenue of $1.54 billion also exceeded expectations. ARGX opened at $864.74, compared with a 12-month range of $636.10 to $953.58.

Handelsbanken Fonder AB lessened its position in argenex SE (NASDAQ:ARGX - Free Report) by 4.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 52,653 shares of the company's stock after selling 2,273 shares during the period. Handelsbanken Fonder AB owned approximately 0.08% of argenex worth $48,850,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ARGX. Mirae Asset Global Investments Co. Ltd. increased its position in argenex by 22.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,846 shares of the company's stock worth $9,121,000 after purchasing an additional 2,018 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of argenex by 65.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the company's stock worth $2,713,000 after buying an additional 1,280 shares in the last quarter. M&T Bank Corp lifted its holdings in shares of argenex by 34.8% in the 4th quarter. M&T Bank Corp now owns 4,980 shares of the company's stock valued at $4,188,000 after buying an additional 1,286 shares during the period. Bessemer Group Inc. lifted its holdings in shares of argenex by 2.7% in the 1st quarter. Bessemer Group Inc. now owns 64,251 shares of the company's stock valued at $46,920,000 after buying an additional 1,714 shares during the period. Finally, UBS Group AG boosted its stake in shares of argenex by 12.3% in the fourth quarter. UBS Group AG now owns 60,384 shares of the company's stock valued at $50,780,000 after buying an additional 6,591 shares in the last quarter. Institutional investors and hedge funds own 60.32% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. HC Wainwright reaffirmed a "buy" rating and set a $940.00 price objective on shares of argenex in a report on Thursday, June 25th. Morgan Stanley raised their target price on argenex from $1,170.00 to $1,180.00 and gave the company an "overweight" rating in a report on Wednesday, June 24th. Weiss Ratings lowered shares of argenex from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, July 23rd. Oppenheimer upped their price target on shares of argenex from $1,014.00 to $1,037.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Finally, Wells Fargo & Company increased their price target on shares of argenex from $1,260.00 to $1,291.00 and gave the company an "overweight" rating in a report on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,056.89.

argenex Price Performance

Shares of NASDAQ:ARGX opened at $864.74 on Wednesday. The firm has a market capitalization of $54.10 billion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 1.07 and a beta of 0.46. The business's 50 day simple moving average is $880.98 and its 200-day simple moving average is $820.35. argenex SE has a 12 month low of $636.10 and a 12 month high of $953.58.

argenex (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, beating the consensus estimate of $5.86 by $1.46. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.45 billion. argenex had a return on equity of 43.59% and a net margin of 32.19%. On average, equities analysts anticipate that argenex SE will post 28.77 earnings per share for the current year.

argenex Profile

argenx NASDAQ: ARGX is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx's research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company's lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.

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