Cetera Investment Advisers Raises Holdings in argenex SE (NASDAQ:ARGX)

Key Points

• Cetera Investment Advisers increased its stake in argenex SE by 33.1% in Q1, owning 5,491 shares valued at $3.25 million.
• Institutions currently hold 60.32% of argenex's stock, with several firms making notable increases in their positions recently.
• argenex reported $3.74 earnings per share for the last quarter, significantly surpassing analyst expectations of $2.84, alongside a revenue of $866.79 million versus a forecast of $776.82 million.

Cetera Investment Advisers lifted its position in shares of argenex SE (NASDAQ:ARGX - Free Report) by 33.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,491 shares of the company's stock after purchasing an additional 1,364 shares during the quarter. Cetera Investment Advisers' holdings in argenex were worth $3,250,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ARGX. GeoWealth Management LLC increased its holdings in shares of argenex by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 50 shares of the company's stock valued at $31,000 after acquiring an additional 18 shares in the last quarter. Greenleaf Trust grew its holdings in shares of argenex by 3.5% during the first quarter. Greenleaf Trust now owns 624 shares of the company's stock valued at $369,000 after buying an additional 21 shares during the last quarter. Rakuten Securities Inc. increased its position in shares of argenex by 56.4% during the first quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock valued at $36,000 after acquiring an additional 22 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in argenex by 1.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,829 shares of the company's stock worth $1,083,000 after acquiring an additional 24 shares during the last quarter. Finally, M&T Bank Corp lifted its position in argenex by 0.6% in the 1st quarter. M&T Bank Corp now owns 4,296 shares of the company's stock valued at $2,542,000 after acquiring an additional 27 shares in the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenex Stock Down 1.6%

ARGX traded down $10.52 during trading hours on Friday, reaching $661.83. 283,690 shares of the company's stock traded hands, compared to its average volume of 431,420. The firm has a 50-day moving average price of $580.54 and a 200 day moving average price of $598.03. The firm has a market capitalization of $40.50 billion, a PE ratio of 33.94, a PEG ratio of 0.77 and a beta of 0.39. argenex SE has a 52-week low of $510.05 and a 52-week high of $696.21.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on argenex from $775.00 to $830.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. JMP Securities set a $699.00 price target on shares of argenex in a report on Wednesday, May 14th. Robert W. Baird upgraded shares of argenex from a "neutral" rating to an "outperform" rating and set a $680.00 price target for the company in a research note on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft raised argenex from a "hold" rating to a "buy" rating in a report on Tuesday, July 8th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $715.00 price objective on shares of argenex in a report on Monday, July 21st. Eighteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, argenex presently has a consensus rating of "Buy" and an average target price of $746.81.

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.