Price T Rowe Associates Inc. MD Trims Stock Holdings in argenex SE $ARGX

Key Points

• Price T Rowe Associates Inc. sold 132,308 shares of argenex SE (NASDAQ:ARGX), reducing its stake to approximately 8.82% of the company, valued at around $3.19 billion.
• Various institutional investors have increased their stakes in argenex, with GeoWealth Management LLC leading the way with a 56.3% increase during the last quarter.
• Argenex recently reported earnings of $3.74 per share, exceeding analyst expectations, and multiple analysts have raised their price targets for the stock, indicating positive investor sentiment.

Price T Rowe Associates Inc. MD cut its stake in shares of argenex SE (NASDAQ:ARGX - Free Report) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,384,586 shares of the company's stock after selling 132,308 shares during the period. Price T Rowe Associates Inc. MD owned 8.82% of argenex worth $3,186,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ARGX. Point72 Asset Management L.P. purchased a new stake in argenex during the fourth quarter valued at approximately $91,013,000. GAMMA Investing LLC grew its stake in argenex by 53,684.9% in the first quarter. GAMMA Investing LLC now owns 135,538 shares of the company's stock worth $802,200,000 after purchasing an additional 135,286 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in argenex by 215.8% in the first quarter. Assenagon Asset Management S.A. now owns 110,390 shares of the company's stock worth $65,336,000 after purchasing an additional 75,435 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in argenex by 33.2% in the first quarter. Lord Abbett & CO. LLC now owns 274,700 shares of the company's stock worth $162,585,000 after purchasing an additional 68,498 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in argenex by 1,086.6% in the fourth quarter. Lazard Asset Management LLC now owns 70,637 shares of the company's stock worth $43,440,000 after purchasing an additional 64,684 shares in the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ARGX has been the topic of several research analyst reports. Morgan Stanley increased their price objective on argenex from $700.00 to $766.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Piper Sandler increased their price objective on argenex from $750.00 to $820.00 and gave the company an "overweight" rating in a report on Tuesday. JMP Securities set a $699.00 price objective on argenex in a report on Wednesday, May 14th. Baird R W upgraded argenex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Citigroup reiterated a "buy" rating on shares of argenex in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating and nineteen have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $763.47.

argenex Stock Performance

ARGX stock traded up $22.43 during midday trading on Tuesday, reaching $699.75. The stock had a trading volume of 314,806 shares, compared to its average volume of 374,822. The stock has a market cap of $42.82 billion, a PE ratio of 35.94, a P/E/G ratio of 0.76 and a beta of 0.39. The firm has a fifty day simple moving average of $597.70 and a two-hundred day simple moving average of $597.38. argenex SE has a 52-week low of $510.05 and a 52-week high of $702.24.

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