Raymond James Financial Inc. Has $39.58 Million Stake in argenex SE $ARGX

Key Points

• Raymond James Financial Inc. sold 3,929 shares of argenex SE, reducing its holdings by 5.5% to approximately 66,873 shares valued at $39.58 million.
• Various institutional investors have adjusted their positions in argenex, with Point72 Europe acquiring shares worth $5.84 million and Ameriprise Financial increasing its stake by 10%.
• Argentex reported robust earnings, with an EPS of $3.74 for the latest quarter, surpassing analyst expectations and prompting a series of upgrades by research analysts.

Raymond James Financial Inc. trimmed its stake in argenex SE (NASDAQ:ARGX - Free Report) by 5.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,873 shares of the company's stock after selling 3,929 shares during the period. Raymond James Financial Inc. owned about 0.11% of argenex worth $39,580,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. RTW Investments LP grew its position in argenex by 2.9% in the fourth quarter. RTW Investments LP now owns 673,497 shares of the company's stock valued at $414,201,000 after acquiring an additional 19,067 shares during the period. Lord Abbett & CO. LLC grew its position in argenex by 33.2% in the first quarter. Lord Abbett & CO. LLC now owns 274,700 shares of the company's stock valued at $162,585,000 after acquiring an additional 68,498 shares during the period. Allspring Global Investments Holdings LLC grew its position in argenex by 22.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 176,450 shares of the company's stock valued at $100,063,000 after acquiring an additional 32,239 shares during the period. Point72 Asset Management L.P. bought a new stake in argenex in the fourth quarter valued at $91,013,000. Finally, GAMMA Investing LLC boosted 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. 60.32% of the stock is currently owned by institutional investors.

argenex Stock Performance

NASDAQ:ARGX traded down $1.18 during mid-day trading on Wednesday, hitting $706.92. The company had a trading volume of 212,362 shares, compared to its average volume of 374,924. argenex SE has a fifty-two week low of $510.05 and a fifty-two week high of $710.00. The business's fifty day moving average is $601.05 and its two-hundred day moving average is $598.15. The firm has a market cap of $43.26 billion, a P/E ratio of 36.27, a P/E/G ratio of 0.78 and a beta of 0.39.

argenex (NASDAQ:ARGX - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $3.74 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $776.82 million. Equities analysts forecast that argenex SE will post 3.13 earnings per share for the current year.

Wall Street Analyst Weigh In

ARGX has been the topic of a number of recent analyst reports. Oppenheimer boosted their price objective on argenex from $704.00 to $708.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Royal Bank Of Canada started coverage on shares of argenex in a report on Monday. They set an "outperform" rating and a $850.00 price objective on the stock. Piper Sandler increased their price objective on shares of argenex from $750.00 to $820.00 and gave the stock an "overweight" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of argenex from a "hold" rating to a "buy" rating in a report on Tuesday, July 8th. Finally, JMP Securities set a $699.00 price objective on shares of argenex in a report on Wednesday, May 14th. Two analysts have rated the stock with a Strong Buy rating and nineteen have given a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $763.47.

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.