argenex SE (NASDAQ:ARGX) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its position in shares of argenex SE (NASDAQ:ARGX - Free Report) by 61.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,395 shares of the company's stock after selling 2,213 shares during the period. Rhumbline Advisers' holdings in argenex were worth $826,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ARGX. Point72 Europe London LLP acquired a new position in argenex during the 4th quarter worth approximately $5,839,000. Ameriprise Financial Inc. grew its holdings in argenex by 10.0% during the fourth quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company's stock worth $4,313,000 after acquiring an additional 639 shares during the period. Jones Financial Companies Lllp grew its holdings in argenex by 1,016.7% during the fourth quarter. Jones Financial Companies Lllp now owns 67 shares of the company's stock worth $41,000 after acquiring an additional 61 shares during the period. PNC Financial Services Group Inc. raised its position in argenex by 13.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,538 shares of the company's stock worth $946,000 after acquiring an additional 181 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in argenex by 21.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,214 shares of the company's stock valued at $2,592,000 after acquiring an additional 755 shares during the period. Institutional investors and hedge funds own 60.32% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. JMP Securities set a $699.00 price target on shares of argenex in a report on Wednesday, May 14th. Guggenheim dropped their target price on shares of argenex from $1,100.00 to $1,065.00 and set a "buy" rating for the company in a report on Friday, May 9th. Wedbush reissued an "outperform" rating and set a $715.00 price target on shares of argenex in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upgraded argenex from a "sell" rating to a "hold" rating in a report on Wednesday, March 12th. Finally, Robert W. Baird raised 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. One research analyst has rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, argenex presently has a consensus rating of "Buy" and a consensus price target of $709.18.

argenex Price Performance

ARGX traded up $27.30 during trading on Tuesday, hitting $568.06. The company's stock had a trading volume of 385,885 shares, compared to its average volume of 326,319. argenex SE has a twelve month low of $428.76 and a twelve month high of $678.21. The stock has a market cap of $34.69 billion, a PE ratio of 35.04, a PEG ratio of 0.98 and a beta of 0.39. The firm's 50 day moving average price is $584.31 and its 200-day moving average price is $608.37.

argenex (NASDAQ:ARGX - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.26. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $748.34 million. argenex had a return on equity of 16.15% and a net margin of 40.20%. Equities 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.