HighTower Advisors LLC Sells 3,613 Shares of argenex SE $ARGX

Key Points

• HighTower Advisors LLC reduced its holdings in argenex SE by 33.8%, owning 7,064 shares worth approximately $4.18 million after selling 3,613 shares in the latest quarter.
• Multiple analysts have issued positive ratings for argenex, with target price increases from firms like Guggenheim and HC Wainwright, suggesting a strong market confidence in the stock's performance.
• Argenex reported earnings of $3.74 per share, surpassing estimates and reflecting robust revenue growth of $866.79 million for the quarter.

HighTower Advisors LLC trimmed its stake in shares of argenex SE (NASDAQ:ARGX - Free Report) by 33.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,064 shares of the company's stock after selling 3,613 shares during the quarter. HighTower Advisors LLC's holdings in argenex were worth $4,181,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GeoWealth Management LLC grew its stake in shares of argenex by 56.3% in the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company's stock worth $31,000 after purchasing an additional 18 shares during the last quarter. Rakuten Securities Inc. grew its position in 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 purchasing an additional 22 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in argenex during the fourth quarter valued at approximately $38,000. Golden State Wealth Management LLC bought a new stake in argenex in the first quarter worth approximately $44,000. Finally, Raiffeisen Bank International AG bought a new stake in argenex in the first quarter worth approximately $76,000. 60.32% of the stock is currently owned by institutional investors.

argenex Stock Up 2.5%

Shares of ARGX traded up $16.8130 during midday trading on Tuesday, reaching $694.1330. 173,464 shares of the stock were exchanged, compared to its average volume of 373,785. argenex SE has a twelve month low of $510.05 and a twelve month high of $702.24. The company has a market cap of $42.48 billion, a P/E ratio of 35.69, a PEG ratio of 0.76 and a beta of 0.39. The stock's 50 day simple moving average is $597.70 and its 200 day simple moving average is $597.38.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ARGX shares. Deutsche Bank Aktiengesellschaft upgraded shares of argenex from a "hold" rating to a "buy" rating in a research note on Tuesday, July 8th. Wells Fargo & Company boosted their price target on shares of argenex from $741.00 to $756.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Citigroup reissued a "buy" rating on shares of argenex in a report on Wednesday, May 21st. JPMorgan Chase & Co. upped their target price on shares of argenex from $775.00 to $830.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Finally, Baird R W upgraded shares of argenex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating and nineteen have issued a Buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $763.47.

argenex Company 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.