Tri Locum Partners LP Sells 40,414 Shares of argenex SE $ARGX

Key Points

• Tri Locum Partners LP has significantly reduced its stake in argenex SE by 69.4%, now owning 17,844 shares valued at approximately $10.56 million.
• Several analysts have updated their price targets for argenex shares, with Wells Fargo increasing its target to $756 and JPMorgan Chase raising it to $830, reflecting positive sentiment towards the stock.
• For the latest quarter, argenex reported $3.74 EPS, exceeding analysts' expectations, along with a net margin of 40.98% and revenue of $866.79 million.

Tri Locum Partners LP lessened its holdings in argenex SE (NASDAQ:ARGX - Free Report) by 69.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,844 shares of the company's stock after selling 40,414 shares during the quarter. argenex makes up about 5.4% of Tri Locum Partners LP's holdings, making the stock its 8th largest position. Tri Locum Partners LP's holdings in argenex were worth $10,561,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Rakuten Securities Inc. grew its holdings in shares of argenex by 56.4% during the first quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock worth $36,000 after purchasing an additional 22 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of argenex during the fourth quarter worth about $38,000. Golden State Wealth Management LLC purchased a new position in shares of argenex during the first quarter worth about $44,000. Brooklyn Investment Group boosted its stake in shares of argenex by 102.7% during the first quarter. Brooklyn Investment Group now owns 75 shares of the company's stock worth $44,000 after buying an additional 38 shares during the period. Finally, Raiffeisen Bank International AG acquired a new stake in shares of argenex during the first quarter worth about $76,000. Hedge funds and other institutional investors own 60.32% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ARGX shares. Morgan Stanley increased their target price on shares of argenex from $700.00 to $766.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Oppenheimer increased their target price on shares of argenex from $704.00 to $708.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Jefferies Financial Group set a $818.00 target price on shares of argenex and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Wells Fargo & Company increased their target price on shares of argenex from $741.00 to $756.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, Wedbush reiterated an "outperform" rating and set a $800.00 target price on shares of argenex in a research note on Monday, August 25th. Two analysts have rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the company. Based on data from MarketBeat.com, argenex has an average rating of "Buy" and an average price target of $766.50.

argenex Stock Performance

NASDAQ:ARGX traded up $8.13 during mid-day trading on Monday, reaching $712.20. The stock had a trading volume of 353,562 shares, compared to its average volume of 379,007. The firm has a market capitalization of $43.59 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 0.81 and a beta of 0.41. argenex SE has a twelve month low of $510.05 and a twelve month high of $716.62. The business has a 50 day simple moving average of $611.18 and a 200 day simple moving average of $599.12.

argenex (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings data 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 net margin of 40.98% and a return on equity of 21.06%. The firm had revenue of $866.79 million during the quarter, compared to the consensus estimate of $776.82 million. As a group, sell-side analysts expect that argenex SE will post 3.13 earnings per share for the current 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.