BIT Capital GmbH Sells 2,185 Shares of argenex SE (NASDAQ:ARGX)

Key Points

• BIT Capital GmbH has decreased its holdings in argenex SE by 54.2% in the first quarter, now owning 1,847 shares valued at approximately $1,093,000.
• Various institutional investors showed increased interest, with Point72 Europe purchasing a new stake worth around $5,839,000 in the fourth quarter and Dimensional Fund Advisors increasing theirs by 21.7%.
• Analysts have raised their price targets for argenex, with a consensus average price target of $736.81 and a strong buy rating from the majority of analysts following the stock.

BIT Capital GmbH lowered its position in shares of argenex SE (NASDAQ:ARGX - Free Report) by 54.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,847 shares of the company's stock after selling 2,185 shares during the quarter. BIT Capital GmbH's holdings in argenex were worth $1,093,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. GeoWealth Management LLC grew its holdings in argenex by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company's stock valued at $31,000 after buying an additional 18 shares in the last quarter. Greenleaf Trust raised its position in argenex by 3.5% during the 1st quarter. Greenleaf Trust now owns 624 shares of the company's stock valued at $369,000 after purchasing an additional 21 shares in the last quarter. Rakuten Securities Inc. grew its stake in argenex by 56.4% during the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock valued at $36,000 after purchasing an additional 22 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in argenex by 1.3% during the first quarter. Sequoia Financial Advisors LLC now owns 1,829 shares of the company's stock worth $1,083,000 after purchasing an additional 24 shares in the last quarter. Finally, M&T Bank Corp grew its position in argenex by 0.6% in the first quarter. M&T Bank Corp now owns 4,296 shares of the company's stock worth $2,542,000 after acquiring an additional 27 shares during the period. Institutional investors and hedge funds own 60.32% of the company's stock.

Analyst Ratings Changes

ARGX has been the topic of a number of recent analyst reports. Guggenheim upped their target price on shares of argenex from $1,060.00 to $1,070.00 and gave the company a "buy" rating in a research note on Friday, August 1st. HC Wainwright boosted their price objective on shares of argenex from $720.00 to $774.00 and gave the company a "buy" rating in a report on Friday, August 1st. JMP Securities set a $699.00 price target on shares of argenex in a research report on Wednesday, May 14th. JPMorgan Chase & Co. lifted their price objective on shares of argenex from $775.00 to $830.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Morgan Stanley upped their price objective on shares of argenex from $700.00 to $766.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Nineteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $746.81.

argenex Price Performance

Shares of argenex stock traded up $1.03 during trading on Wednesday, hitting $675.93. The stock had a trading volume of 200,958 shares, compared to its average volume of 374,408. The firm has a market cap of $41.37 billion, a P/E ratio of 34.66, a PEG ratio of 0.86 and a beta of 0.39. argenex SE has a fifty-two week low of $496.91 and a fifty-two week high of $696.21. The business has a fifty day moving average of $575.07 and a two-hundred day moving average of $597.18.

argenex (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $3.74 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $776.82 million. As a group, research analysts forecast that argenex SE will post 3.13 earnings per share for the current 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.