argenex SE (NASDAQ:ARGX) Shares Sold by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board reduced its stake in argenex SE by 22.5%, owning 82,082 shares after selling 23,890 shares during the first quarter.
• Argentex reported $3.74 earnings per share for the quarter, surpassing the consensus estimate by $0.90 and demonstrating a net margin of 40.98%.
• Analysts have raised price targets for argenex shares, with estimates reaching up to $1,070, and a consensus rating of "Buy" from eighteen analysts.

Public Sector Pension Investment Board lessened its holdings in shares of argenex SE (NASDAQ:ARGX - Free Report) by 22.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,082 shares of the company's stock after selling 23,890 shares during the period. Public Sector Pension Investment Board owned approximately 0.13% of argenex worth $48,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. GeoWealth Management LLC raised its holdings in shares of argenex by 56.3% during the fourth 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. raised its holdings in shares of argenex by 56.4% during the first quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock worth $36,000 after purchasing an additional 22 shares during the last quarter. FIL Ltd purchased a new position in shares of argenex during the fourth quarter worth $38,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of argenex during the fourth quarter worth $38,000. Finally, Golden State Wealth Management LLC acquired a new stake in argenex during the first quarter valued at $44,000. Hedge funds and other institutional investors own 60.32% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wedbush reaffirmed an "outperform" rating and issued a $715.00 price objective on shares of argenex in a report on Monday, July 21st. JPMorgan Chase & Co. lifted their price objective on shares of argenex from $775.00 to $830.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Morgan Stanley lifted their price objective on shares of argenex from $700.00 to $766.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Deutsche Bank Aktiengesellschaft raised shares of argenex from a "hold" rating to a "buy" rating in a report on Tuesday, July 8th. Finally, Robert W. Baird raised shares of argenex from a "neutral" rating to an "outperform" rating and set a $680.00 price objective for the company in a report on Tuesday, May 13th. Eighteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, argenex currently has a consensus rating of "Buy" and an average target price of $746.81.

argenex Stock Up 1.4%

Shares of NASDAQ ARGX traded up $9.04 during trading on Wednesday, hitting $646.60. The company had a trading volume of 481,113 shares, compared to its average volume of 454,526. The stock has a fifty day simple moving average of $584.30 and a two-hundred day simple moving average of $597.90. argenex SE has a fifty-two week low of $510.05 and a fifty-two week high of $696.21. The firm has a market capitalization of $39.57 billion, a price-to-earnings ratio of 33.16, a price-to-earnings-growth ratio of 0.73 and a beta of 0.39.

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

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.