Rhumbline Advisers Sells 2,213 Shares of argenex SE (NASDAQ:ARGX)

Rhumbline Advisers cut its stake in shares of argenex SE (NASDAQ:ARGX - Free Report) by 61.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,395 shares of the company's stock after selling 2,213 shares during the quarter. Rhumbline Advisers' holdings in argenex were worth $826,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. FMR LLC boosted its stake in shares of argenex by 17.2% during the 4th quarter. FMR LLC now owns 5,618,222 shares of the company's stock worth $3,455,207,000 after acquiring an additional 824,750 shares in the last quarter. Capital World Investors boosted its stake in shares of argenex by 5.1% during the 4th quarter. Capital World Investors now owns 1,786,936 shares of the company's stock worth $1,099,002,000 after acquiring an additional 86,687 shares in the last quarter. RTW Investments LP boosted its stake in shares of argenex by 2.9% during the 4th quarter. RTW Investments LP now owns 673,497 shares of the company's stock worth $414,201,000 after acquiring an additional 19,067 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of argenex by 6.8% during the 4th quarter. Clearbridge Investments LLC now owns 629,828 shares of the company's stock worth $387,344,000 after acquiring an additional 40,330 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in shares of argenex by 26.5% during the 4th quarter. Lord Abbett & CO. LLC now owns 206,202 shares of the company's stock worth $126,814,000 after acquiring an additional 43,239 shares in the last quarter. 60.32% of the stock is owned by institutional investors.

argenex Trading Up 0.8%

ARGX stock traded up $4.23 during mid-day trading on Friday, hitting $542.15. The stock had a trading volume of 372,905 shares, compared to its average volume of 325,762. argenex SE has a 1-year low of $428.76 and a 1-year high of $678.21. The company has a fifty day moving average of $585.62 and a 200 day moving average of $609.06. The stock has a market capitalization of $33.10 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 0.98 and a beta of 0.39.

argenex (NASDAQ:ARGX - Get Free Report) last issued 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. argenex had a return on equity of 16.15% and a net margin of 40.20%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $748.34 million. As a group, sell-side analysts expect that argenex SE will post 3.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ARGX shares. HC Wainwright reaffirmed a "buy" rating and issued a $720.00 target price on shares of argenex in a research report on Tuesday, June 10th. Citigroup reaffirmed a "buy" rating on shares of argenex in a research report on Wednesday, May 21st. Wells Fargo & Company raised their target price on argenex from $723.00 to $741.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Robert W. Baird raised argenex from a "neutral" rating to an "outperform" rating and set a $680.00 target price for the company in a research report on Tuesday, May 13th. Finally, William Blair reaffirmed an "outperform" rating on shares of argenex in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $709.18.

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.