Erste Asset Management GmbH Sells 3,000 Shares of argenex SE $ARGX

Key Points

• Erste Asset Management GmbH has reduced its investment in argenex SE by 17.9% this quarter, now holding 13,800 shares valued at approximately $8.13 million.
• Increased interest from institutional investors is evident, with significant stakes being added by Point72 Asset Management and GAMMA Investing LLC, which has raised its holdings by over 53,000%.
• argenex SE reported earnings of $3.74 EPS, exceeding estimates, while analysts have set a consensus price target of $746.81, reflecting strong confidence in the company's market performance.

Erste Asset Management GmbH decreased its position in shares of argenex SE (NASDAQ:ARGX - Free Report) by 17.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 13,800 shares of the company's stock after selling 3,000 shares during the quarter. Erste Asset Management GmbH's holdings in argenex were worth $8,130,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hsbc Holdings PLC lifted its holdings in argenex by 47.1% during the 1st quarter. Hsbc Holdings PLC now owns 22,535 shares of the company's stock worth $13,332,000 after purchasing an additional 7,213 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in argenex by 6,665.3% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 25,370 shares of the company's stock worth $15,014,000 after purchasing an additional 24,995 shares in the last quarter. Quantbot Technologies LP lifted its holdings in argenex by 4,533.3% during the 1st quarter. Quantbot Technologies LP now owns 139 shares of the company's stock worth $82,000 after purchasing an additional 136 shares in the last quarter. Brooklyn Investment Group lifted its holdings in argenex by 102.7% during the 1st quarter. Brooklyn Investment Group now owns 75 shares of the company's stock worth $44,000 after purchasing an additional 38 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in argenex during the 1st quarter worth about $888,000. Institutional investors own 60.32% of the company's stock.

argenex Price Performance

Shares of NASDAQ:ARGX traded down $3.73 on Friday, hitting $660.00. The company's stock had a trading volume of 222,887 shares, compared to its average volume of 450,736. The company has a 50-day simple moving average of $595.18 and a 200 day simple moving average of $597.58. argenex SE has a 1 year low of $510.05 and a 1 year high of $696.21. The company has a market capitalization of $40.39 billion, a PE ratio of 33.85, a PEG ratio of 0.76 and a beta of 0.39.

argenex (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $3.74 earnings per share 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 analysts' expectations of $776.82 million. On average, equities research analysts expect that argenex SE will post 3.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. HC Wainwright increased their price objective on argenex from $720.00 to $774.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Oppenheimer increased their price objective on argenex from $704.00 to $708.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Guggenheim increased their price objective on argenex from $1,060.00 to $1,070.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Wells Fargo & Company increased their price objective on argenex from $741.00 to $756.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Robert W. Baird raised argenex from a "neutral" rating to an "outperform" rating and set a $680.00 price target on the stock in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating and eighteen have assigned a Buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $746.81.

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.