Russell Investments Group Ltd. Has $3.78 Million Stock Holdings in argenex SE $ARGX

Key Points

• Russell Investments Group Ltd. reduced its stake in argenex SE by 84.2%, selling 34,133 shares and holding only 6,387 shares valued at approximately $3.78 million after the transaction.
• Many institutional investors have increased their holdings in argenex, with notable boosts from GeoWealth Management, Greenleaf Trust, and Rakuten Securities all reporting significant increases in their respective stakes.
• Wall Street analysts have a generally positive outlook on argenex, with twenty analysts rating it as a buy, and an average target price of $746.81 following recent positive earnings reports.

Russell Investments Group Ltd. lessened its position in argenex SE (NASDAQ:ARGX - Free Report) by 84.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,387 shares of the company's stock after selling 34,133 shares during the period. Russell Investments Group Ltd.'s holdings in argenex were worth $3,780,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GeoWealth Management LLC raised its position in argenex by 56.3% in the fourth quarter. GeoWealth Management LLC now owns 50 shares of the company's stock worth $31,000 after acquiring an additional 18 shares in the last quarter. Rakuten Securities Inc. raised its position in argenex by 56.4% in the first quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock worth $36,000 after acquiring an additional 22 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of argenex in the 4th quarter worth approximately $38,000. Golden State Wealth Management LLC bought a new stake in shares of argenex in the 1st quarter worth approximately $44,000. Finally, Raiffeisen Bank International AG bought a new stake in shares of argenex in the 1st quarter worth approximately $76,000. Institutional investors own 60.32% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wells Fargo & Company boosted their target price on shares of argenex from $741.00 to $756.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Robert W. Baird raised argenex from a "neutral" rating to an "outperform" rating and set a $680.00 price target on the stock in a report on Tuesday, May 13th. Guggenheim boosted their target price on argenex from $1,060.00 to $1,070.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Deutsche Bank Aktiengesellschaft raised argenex from a "hold" rating to a "buy" rating in a research report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. boosted their target price on argenex from $775.00 to $830.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating and nineteen have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $763.47.

argenex Trading Down 0.2%

NASDAQ:ARGX traded down $1.18 during trading hours on Wednesday, hitting $706.92. 212,362 shares of the stock traded hands, compared to its average volume of 374,924. The firm has a market cap of $43.26 billion, a price-to-earnings ratio of 36.27, a PEG ratio of 0.78 and a beta of 0.39. argenex SE has a fifty-two week low of $510.05 and a fifty-two week high of $710.00. The firm has a 50 day moving average price of $601.05 and a 200 day moving average price of $598.15.

argenex (NASDAQ:ARGX - Get Free Report) last posted its quarterly 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. The firm had revenue of $866.79 million for the quarter, compared to analyst estimates of $776.82 million. argenex had a return on equity of 21.06% and a net margin of 40.98%. Research analysts predict that argenex SE will post 3.13 EPS for the current year.

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.