Harvey Capital Management Inc. Decreases Holdings in argenex SE (NASDAQ:ARGX)

Harvey Capital Management Inc. cut its stake in shares of argenex SE (NASDAQ:ARGX - Free Report) by 4.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,075 shares of the company's stock after selling 486 shares during the period. argenex comprises approximately 1.7% of Harvey Capital Management Inc.'s holdings, making the stock its 18th largest position. Harvey Capital Management Inc.'s holdings in argenex were worth $6,555,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ARGX. FMR LLC boosted its holdings in shares of argenex by 17.2% during the 4th quarter. FMR LLC now owns 5,618,222 shares of the company's stock valued at $3,455,207,000 after purchasing an additional 824,750 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of argenex during the fourth quarter worth $91,013,000. GAMMA Investing LLC raised its position in argenex by 53,684.9% during the first quarter. GAMMA Investing LLC now owns 135,538 shares of the company's stock valued at $802,200,000 after acquiring an additional 135,286 shares in the last quarter. Marshall Wace LLP increased its position in shares of argenex by 184.7% in the fourth quarter. Marshall Wace LLP now owns 191,553 shares of the company's stock valued at $117,805,000 after buying an additional 124,271 shares in the last quarter. Finally, Capital World Investors increased its position in shares of argenex by 5.1% during the fourth quarter. Capital World Investors now owns 1,786,936 shares of the company's stock worth $1,099,002,000 after purchasing an additional 86,687 shares in the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenex Trading Down 1.4%

Shares of ARGX opened at $538.64 on Wednesday. The stock's 50-day moving average price is $572.66 and its two-hundred day moving average price is $603.28. The stock has a market cap of $32.89 billion, a P/E ratio of 33.23, a price-to-earnings-growth ratio of 0.99 and a beta of 0.37. argenex SE has a 1 year low of $442.75 and a 1 year high of $678.21.

argenex (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.26. argenex had a net margin of 40.20% and a return on equity of 16.15%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $748.34 million. As a group, equities analysts forecast that argenex SE will post 3.13 EPS for the current year.

Analyst Upgrades and Downgrades

ARGX has been the topic of several recent analyst reports. Oppenheimer upped their price target on argenex from $704.00 to $708.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. JMP Securities set a $699.00 price target on argenex in a report on Wednesday, May 14th. Guggenheim dropped their price objective on argenex from $1,100.00 to $1,065.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Morgan Stanley began coverage on shares of argenex in a report on Thursday, July 3rd. They issued an "overweight" rating and a $700.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of argenex from a "hold" rating to a "buy" rating in a research report on Tuesday. Nineteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $728.06.

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.

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