Perpetual Ltd Sells 17,575 Shares of argenex SE $ARGX

Key Points

• Perpetual Ltd reduced its stake in argenex SE by 15.3%, selling 17,575 shares in the second quarter, and now owns approximately 0.16% of the company valued at $53,444,000.
• Various hedge funds increased their holdings in argenex, with Aaron Wealth Advisors lifting its stake by 9.3% and Gallacher Capital Management increasing by 43.3% during the same period.
• Equities analysts show a consensus Buy rating for argenex, with price targets ranging from $850.00 to $1,070.00, indicating strong investor interest and confidence in the company's future performance.

Perpetual Ltd trimmed its holdings in argenex SE (NASDAQ:ARGX - Free Report) by 15.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 96,955 shares of the company's stock after selling 17,575 shares during the quarter. Perpetual Ltd owned 0.16% of argenex worth $53,444,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Rakuten Securities Inc. lifted its holdings in shares of argenex by 56.4% in the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock worth $36,000 after acquiring an additional 22 shares during the last quarter. WPG Advisers LLC bought a new stake in shares of argenex in the 1st quarter worth approximately $37,000. Golden State Wealth Management LLC bought a new stake in shares of argenex in the 1st quarter worth approximately $44,000. Brooklyn Investment Group lifted its holdings in shares of argenex by 102.7% in the 1st quarter. Brooklyn Investment Group now owns 75 shares of the company's stock worth $44,000 after acquiring an additional 38 shares during the last quarter. Finally, Banque Transatlantique SA bought a new stake in shares of argenex in the 1st quarter worth approximately $62,000. 60.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ARGX. Bank of America boosted their price objective on shares of argenex from $880.00 to $887.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Wall Street Zen downgraded shares of argenex from a "buy" rating to a "hold" rating in a research note on Sunday, September 14th. Wedbush reaffirmed an "outperform" rating and issued a $800.00 target price on shares of argenex in a research note on Monday, August 25th. Royal Bank Of Canada began coverage on shares of argenex in a research note on Monday, August 25th. They issued an "outperform" rating and a $850.00 target price on the stock. Finally, Guggenheim reaffirmed a "buy" rating and issued a $1,070.00 target price on shares of argenex in a research note on Thursday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, argenex has an average rating of "Buy" and an average target price of $789.20.

argenex Stock Down 0.1%

Shares of NASDAQ:ARGX traded down $0.41 during midday trading on Tuesday, reaching $739.62. The company's stock had a trading volume of 62,621 shares, compared to its average volume of 376,033. The firm has a 50 day moving average of $672.28 and a 200-day moving average of $611.94. The firm has a market capitalization of $45.26 billion, a P/E ratio of 37.91, a PEG ratio of 0.80 and a beta of 0.41. argenex SE has a 12-month low of $510.05 and a 12-month high of $779.03.

argenex (NASDAQ:ARGX - Get Free Report) last released its 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 for the quarter, compared to the consensus estimate of $776.82 million. argenex had a net margin of 40.98% and a return on equity of 21.06%. On average, research analysts predict that argenex SE will post 3.13 EPS for the current year.

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.