T. Rowe Price Investment Management Inc. Decreases Stock Holdings in argenex SE $ARGX

Key Points

• T. Rowe Price Investment Management Inc. significantly reduced its stake in argenex SE by 83.5% in the first quarter, leaving it with approximately 80,647 shares, valued at about $47.7 million.
• Despite T. Rowe Price's sell-off, other hedge funds increased their positions in argenex, with GeoWealth Management raising its holdings by 56.3%.
• Argentex reported strong quarterly earnings of $3.74 per share, exceeding expectations and contributing to a positive consensus rating of "Buy" from analysts.

T. Rowe Price Investment Management Inc. trimmed its position in shares of argenex SE (NASDAQ:ARGX - Free Report) by 83.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 80,647 shares of the company's stock after selling 407,206 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 0.13% of argenex worth $47,733,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ARGX. GeoWealth Management LLC lifted its position in shares of argenex by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 50 shares of the company's stock valued at $31,000 after buying an additional 18 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of argenex by 21.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 24,929 shares of the company's stock valued at $15,332,000 after buying an additional 4,445 shares during the last quarter. MML Investors Services LLC lifted its position in shares of argenex by 1.7% during the fourth quarter. MML Investors Services LLC now owns 8,844 shares of the company's stock valued at $5,439,000 after buying an additional 145 shares during the last quarter. Stifel Financial Corp lifted its position in shares of argenex by 6.8% during the fourth quarter. Stifel Financial Corp now owns 9,433 shares of the company's stock valued at $5,801,000 after buying an additional 601 shares during the last quarter. Finally, MGO One Seven LLC purchased a new stake in shares of argenex during the fourth quarter valued at about $323,000. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenex Trading Down 0.6%

Shares of NASDAQ:ARGX opened at $660.00 on Friday. argenex SE has a twelve month low of $510.05 and a twelve month high of $696.21. The company's 50 day moving average is $595.18 and its 200 day moving average is $598.10. The company has a market cap of $40.39 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 0.76 and a beta of 0.39.

argenex (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $3.74 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.90. argenex had a net margin of 40.98% and a return on equity of 21.06%. The company had revenue of $866.79 million for the quarter, compared to the consensus estimate of $776.82 million. Equities research analysts predict that argenex SE will post 3.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ARGX has been the subject of several analyst reports. Baird R W raised shares of argenex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft raised shares of argenex from a "hold" rating to a "buy" rating in a research report on Tuesday, July 8th. Oppenheimer increased their price objective on shares of argenex from $704.00 to $708.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Wells Fargo & Company increased their price objective on shares of argenex from $741.00 to $756.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Finally, Morgan Stanley increased their price objective on shares of argenex from $700.00 to $766.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the company's stock. According to MarketBeat.com, argenex presently has a consensus rating of "Buy" and an average price target of $746.81.

About argenex

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.

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