QVT Financial LP Has $7.71 Million Position in argenex SE $ARGX

Key Points

• QVT Financial LP has reduced its stake in argenex SE by 21%, now holding 13,030 shares valued at approximately $7.71 million.
• Research analysts have set varied price targets for argenex, with Piper Sandler increasing their target from $750 to $820 and a consensus rating of "Buy" across multiple firms.
• In its last earnings report, argenex SE reported $3.74 earnings per share, exceeding analysts' expectations of $2.84, alongside a revenue of $866.79 million.

QVT Financial LP reduced its stake in shares of argenex SE (NASDAQ:ARGX - Free Report) by 21.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,030 shares of the company's stock after selling 3,468 shares during the quarter. argenex makes up approximately 0.7% of QVT Financial LP's portfolio, making the stock its 19th largest position. QVT Financial LP's holdings in argenex were worth $7,712,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Greenleaf Trust boosted its holdings in shares of argenex by 3.5% during the first quarter. Greenleaf Trust now owns 624 shares of the company's stock worth $369,000 after purchasing an additional 21 shares during the period. Rakuten Securities Inc. boosted 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 period. Sequoia Financial Advisors LLC raised its position in argenex by 1.3% during the first quarter. Sequoia Financial Advisors LLC now owns 1,829 shares of the company's stock valued at $1,083,000 after acquiring an additional 24 shares in the last quarter. M&T Bank Corp lifted its stake in argenex by 0.6% in the first quarter. M&T Bank Corp now owns 4,296 shares of the company's stock valued at $2,542,000 after acquiring an additional 27 shares during the last quarter. Finally, Nkcfo LLC grew its position in argenex by 32.7% in the first quarter. Nkcfo LLC now owns 146 shares of the company's stock worth $86,000 after acquiring an additional 36 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ARGX has been the subject of several recent research reports. Piper Sandler boosted their target price on shares of argenex from $750.00 to $820.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Jefferies Financial Group set a $818.00 target price on shares of argenex and gave the stock a "buy" rating in a research report on Tuesday. Citigroup reissued a "buy" rating on shares of argenex in a research report on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft raised shares of argenex from a "hold" rating to a "buy" rating in a research report on Tuesday, July 8th. Finally, Guggenheim boosted their target price on shares of argenex from $1,060.00 to $1,070.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating and twenty have assigned a Buy rating to the company's stock. Based on data from MarketBeat, argenex currently has a consensus rating of "Buy" and an average target price of $766.50.

argenex Stock Up 1.2%

NASDAQ:ARGX opened at $712.20 on Friday. argenex SE has a 12 month low of $510.05 and a 12 month high of $716.62. The firm has a market cap of $43.59 billion, a price-to-earnings ratio of 36.52, a P/E/G ratio of 0.81 and a beta of 0.39. The company's 50 day moving average is $611.18 and its 200-day moving average is $599.48.

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, topping analysts' consensus estimates 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. Research analysts predict that argenex SE will post 3.13 EPS for the current fiscal 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.

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