Rhumbline Advisers Sells 2,213 Shares of argenex SE $ARGX

Key Points

• Rhumbline Advisers reduced its stake in argenex SE by 61.3%, selling 2,213 shares and holding 1,395 shares worth $826,000 at the end of the last quarter.
• Analysts have set target prices for argenex ranging from $818.00 to $887.00, with a consensus rating of "Buy" and a target price of $789.20.
• In its latest earnings report, argenex posted an EPS of $3.74, significantly beating the consensus estimate of $2.84, demonstrating strong financial performance with a net margin of 40.98%.

Rhumbline Advisers trimmed its position in argenex SE (NASDAQ:ARGX - Free Report) by 61.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,395 shares of the company's stock after selling 2,213 shares during the quarter. Rhumbline Advisers' holdings in argenex were worth $826,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ARGX. Greenleaf Trust lifted its stake in shares of argenex by 3.5% in the 1st quarter. Greenleaf Trust now owns 624 shares of the company's stock valued at $369,000 after purchasing an additional 21 shares during the last quarter. Rakuten Securities Inc. raised its stake in shares of argenex by 56.4% during the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock worth $36,000 after buying an additional 22 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in argenex by 1.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,829 shares of the company's stock valued at $1,083,000 after purchasing an additional 24 shares in the last quarter. M&T Bank Corp increased its position in argenex by 0.6% during the first quarter. M&T Bank Corp now owns 4,296 shares of the company's stock worth $2,542,000 after buying an additional 27 shares in the last quarter. Finally, Nkcfo LLC boosted its holdings in argenex by 32.7% in the first quarter. Nkcfo LLC now owns 146 shares of the company's stock valued at $86,000 after acquiring an additional 36 shares during the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenex Trading Up 0.4%

NASDAQ ARGX traded up $3.27 on Monday, hitting $740.03. 272,782 shares of the company were exchanged, compared to its average volume of 393,253. The company has a market cap of $45.29 billion, a PE ratio of 37.95, 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. The stock has a fifty day moving average of $672.28 and a 200-day moving average of $611.94.

argenex (NASDAQ:ARGX - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $3.74 EPS for the quarter, beating the consensus estimate of $2.84 by $0.90. argenex had a net margin of 40.98% and a return on equity of 21.06%. The company had revenue of $866.79 million during the quarter, compared to the consensus estimate of $776.82 million. On average, analysts expect that argenex SE will post 3.13 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on ARGX shares. Wedbush reissued an "outperform" rating and issued a $800.00 price objective on shares of argenex in a report on Monday, August 25th. HC Wainwright upped their price target on argenex from $720.00 to $774.00 and gave the company a "buy" rating in a report on Friday, August 1st. Wall Street Zen cut shares of argenex from a "buy" rating to a "hold" rating in a report on Sunday, September 14th. Bank of America upped their price target on shares of argenex from $880.00 to $887.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Finally, Wells Fargo & Company increased their price target on shares of argenex from $741.00 to $756.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, argenex presently has a consensus rating of "Buy" and an average target price of $789.20.

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.