Sei Investments Co. Cuts Stake in argenex SE $ARGX

Key Points

• Sei Investments Co. cut its stake in argenex by 13.2% in the first quarter, selling 43,540 shares and ending with 286,966 shares valued at about $209.6 million.
• Despite that reduction, institutional ownership remains high, with hedge funds and other institutions holding 60.32% of argenex shares. Several other investors increased positions during the period.
• Wall Street remains broadly positive on ARGX, with a Moderate Buy consensus and an average price target of $1,042.67. The stock was trading down 2.6% at $851.72, while the company reported strong quarterly results with $5.52 EPS and $1.31 billion in revenue.

Sei Investments Co. reduced its position in shares of argenex SE (NASDAQ:ARGX - Free Report) by 13.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 286,966 shares of the company's stock after selling 43,540 shares during the quarter. Sei Investments Co. owned 0.46% of argenex worth $209,556,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. AQR Capital Management LLC increased its position in shares of argenex by 32.1% during the first quarter. AQR Capital Management LLC now owns 502 shares of the company's stock valued at $297,000 after acquiring an additional 122 shares in the last quarter. NewEdge Advisors LLC lifted its position in argenex by 5,962.5% in the 1st quarter. NewEdge Advisors LLC now owns 1,455 shares of the company's stock valued at $862,000 after acquiring an additional 1,431 shares in the last quarter. Focus Partners Wealth lifted its position in argenex by 22.3% in the 1st quarter. Focus Partners Wealth now owns 400 shares of the company's stock valued at $237,000 after acquiring an additional 73 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in argenex by 550.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 117 shares of the company's stock valued at $69,000 after purchasing an additional 99 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in argenex by 60.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 133 shares of the company's stock valued at $73,000 after purchasing an additional 50 shares during the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wells Fargo & Company lifted their target price on argenex from $1,260.00 to $1,291.00 and gave the stock an "overweight" rating in a report on Monday, June 1st. Bank of America upped their price target on argenex from $1,016.00 to $1,088.00 and gave the company a "buy" rating in a report on Thursday, July 2nd. HC Wainwright reaffirmed a "buy" rating and set a $940.00 price objective on shares of argenex in a research report on Thursday, June 25th. Weiss Ratings upgraded argenex from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, July 6th. Finally, Wedbush reissued an "outperform" rating and issued a $1,000.00 target price on shares of argenex in a research report on Thursday, June 11th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, argenex currently has an average rating of "Moderate Buy" and a consensus price target of $1,042.67.

argenex Trading Down 2.6%

Shares of ARGX stock opened at $851.72 on Thursday. argenex SE has a 12-month low of $566.42 and a 12-month high of $953.58. The stock has a market capitalization of $53.28 billion, a P/E ratio of 37.92, a P/E/G ratio of 1.08 and a beta of 0.45. The firm's 50 day moving average is $863.85 and its 200 day moving average is $813.80.

argenex (NASDAQ:ARGX - Get Free Report) last announced its earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share for the quarter. The business had revenue of $1.31 billion during the quarter. argenex had a net margin of 31.31% and a return on equity of 44.37%. As a group, equities analysts predict that argenex SE will post 26.33 earnings per share for the current year.

argenex Company Profile

argenx NASDAQ: ARGX is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx's research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company's lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.

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