Sowell Financial Services LLC Takes $332,000 Position in argenex SE (NASDAQ:ARGX)

Sowell Financial Services LLC acquired a new stake in argenex SE (NASDAQ:ARGX - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 561 shares of the company's stock, valued at approximately $332,000.

Several other institutional investors have also added to or reduced their stakes in the company. GeoWealth Management LLC lifted its holdings in shares of 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 during the last quarter. Whipplewood Advisors LLC acquired a new position in argenex during the 4th quarter worth approximately $37,000. Global Retirement Partners LLC increased its position in argenex by 369.2% during the 4th quarter. Global Retirement Partners LLC now owns 61 shares of the company's stock worth $38,000 after purchasing an additional 48 shares in the last quarter. FIL Ltd bought a new position in argenex in the 4th quarter valued at approximately $38,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in argenex in the fourth quarter valued at approximately $38,000. 60.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ARGX shares. JMP Securities set a $699.00 price target on shares of argenex in a report on Wednesday, May 14th. Guggenheim lowered their target price on argenex from $1,100.00 to $1,065.00 and set a "buy" rating for the company in a report on Friday, May 9th. HC Wainwright reiterated a "buy" rating and issued a $720.00 target price on shares of argenex in a research report on Tuesday, June 10th. Citigroup restated a "buy" rating on shares of argenex in a report on Wednesday, May 21st. Finally, Robert W. Baird upgraded 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, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, argenex has a consensus rating of "Buy" and an average price target of $729.93.

argenex Stock Performance

Shares of NASDAQ ARGX traded down $7.53 during trading on Wednesday, hitting $560.53. 227,152 shares of the company traded hands, compared to its average volume of 322,798. argenex SE has a fifty-two week low of $428.76 and a fifty-two week high of $678.21. The firm has a market capitalization of $34.23 billion, a price-to-earnings ratio of 94.68, a P/E/G ratio of 1.03 and a beta of 0.39. The business's fifty day moving average is $583.56 and its 200 day moving average is $608.09.

argenex (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.32 by $0.26. argenex had a net margin of 40.20% and a return on equity of 16.15%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $748.34 million. On average, 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.