Cinctive Capital Management LP Lowers Stake in argenex SE $ARGX

Key Points

• Cinctive Capital Management LP reduced its position in argenex SE by 32.9% in Q1, now owning shares valued at approximately $2.39 million.
• Institutional investments saw significant growth, with several firms like Point72 Asset Management and GAMMA Investing LLC increasing their holdings substantially during the same period.
• Wall Street analysts maintain a consensus "Buy" rating on argenex, with target prices from various firms ranging from $766.00 to $887.00.

Cinctive Capital Management LP trimmed its position in shares of argenex SE (NASDAQ:ARGX - Free Report) by 32.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,036 shares of the company's stock after selling 1,980 shares during the quarter. Cinctive Capital Management LP's holdings in argenex were worth $2,389,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Greenleaf Trust boosted 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 acquiring an additional 21 shares in the last quarter. Rakuten Securities Inc. boosted its position 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 acquiring an additional 22 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in argenex by 1.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,829 shares of the company's stock valued at $1,083,000 after acquiring an additional 24 shares in the last quarter. M&T Bank Corp lifted its holdings in shares of argenex by 0.6% during the first quarter. M&T Bank Corp now owns 4,296 shares of the company's stock valued at $2,542,000 after purchasing an additional 27 shares during the last quarter. Finally, Nkcfo LLC lifted its holdings in shares of argenex by 32.7% during the first quarter. Nkcfo LLC now owns 146 shares of the company's stock valued at $86,000 after purchasing an additional 36 shares during the last quarter. 60.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ARGX shares. JPMorgan Chase & Co. lifted their target price on shares of argenex from $775.00 to $830.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Royal Bank Of Canada assumed coverage on shares of argenex in a report on Monday, August 25th. They issued an "outperform" rating and a $850.00 target price for the company. Deutsche Bank Aktiengesellschaft raised shares of argenex from a "hold" rating to a "buy" rating in a report on Tuesday, July 8th. Baird R W upgraded shares of argenex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, Bank of America upped their target price on shares of argenex from $880.00 to $887.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $772.84.

argenex Price Performance

NASDAQ ARGX traded up $3.08 during midday trading on Wednesday, hitting $770.08. 126,100 shares of the company traded hands, compared to its average volume of 375,408. argenex SE has a 52 week low of $510.05 and a 52 week high of $779.03. The company's 50-day simple moving average is $636.71 and its 200-day simple moving average is $604.06. The company has a market cap of $47.13 billion, a PE ratio of 39.43, a price-to-earnings-growth ratio of 0.82 and a beta of 0.41.

argenex (NASDAQ:ARGX - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $3.74 EPS for the quarter, topping analysts' consensus estimates of $2.84 by $0.90. The business had revenue of $866.79 million during the quarter, compared to analysts' expectations 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 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.