Northern Trust Corp Sells 1,702 Shares of argenex SE $ARGX

Key Points

• Northern Trust Corp has reduced its stake in argenex SE by 3.1%, selling 1,702 shares and holding approximately 52,426 shares valued at $31,029,000.
• argenex reported quarterly earnings of $3.74 per share, significantly beating analysts' expectations of $2.84, with total revenue of $866.79 million.
• Wall Street analysts have a consensus rating of "Buy" for argenex, with target prices ranging from $680.00 to $1,070.00.

Northern Trust Corp trimmed its holdings in shares of argenex SE (NASDAQ:ARGX - Free Report) by 3.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,426 shares of the company's stock after selling 1,702 shares during the period. Northern Trust Corp owned approximately 0.09% of argenex worth $31,029,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Point72 Europe London LLP purchased a new position in argenex during the 4th quarter valued at about $5,839,000. Ameriprise Financial Inc. grew its position in argenex by 10.0% during the fourth quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company's stock valued at $4,313,000 after purchasing an additional 639 shares in the last quarter. Sowell Financial Services LLC acquired a new position in argenex in the 1st quarter valued at approximately $332,000. Cetera Investment Advisers lifted its position in argenex by 33.1% in the 1st quarter. Cetera Investment Advisers now owns 5,491 shares of the company's stock worth $3,250,000 after buying an additional 1,364 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of argenex by 21.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 24,929 shares of the company's stock valued at $15,332,000 after buying an additional 4,445 shares during the period. 60.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ARGX has been the topic of a number of research reports. Baird R W raised shares of argenex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Oppenheimer boosted their target price on argenex from $704.00 to $708.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Royal Bank Of Canada initiated coverage on argenex in a research note on Monday, August 25th. They set an "outperform" rating and a $850.00 price target for the company. Piper Sandler lifted their price target on argenex from $750.00 to $820.00 and gave the company an "overweight" rating in a report on Tuesday, August 26th. Finally, Deutsche Bank Aktiengesellschaft upgraded argenex from a "hold" rating to a "buy" rating in a report on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $772.84.

argenex Stock Performance

Shares of NASDAQ ARGX traded up $15.96 during mid-day trading on Thursday, reaching $737.97. 153,315 shares of the company traded hands, compared to its average volume of 373,983. The company's fifty day moving average is $620.60 and its two-hundred day moving average is $601.21. argenex SE has a fifty-two week low of $510.05 and a fifty-two week high of $742.52. The stock has a market cap of $45.16 billion, a PE ratio of 37.86, a price-to-earnings-growth ratio of 0.81 and a beta of 0.41.

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 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 during the quarter, compared to analyst estimates of $776.82 million. Research analysts forecast that argenex SE will post 3.13 earnings per share for the current year.

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.