argenex SE (NASDAQ:ARGX) Stock Position Trimmed by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in argenex SE by 18.6% during Q1, selling 32,106 shares, which now represents a 0.23% ownership valued at approximately $83.2 million.
• Several institutional investors, including GeoWealth Management LLC and Rakuten Securities Inc., have recently increased their holdings in argenex, reflecting ongoing interest from the market.
• Analysts generally maintain a positive outlook for argenex, with many issuing "buy" ratings and an average price target of $728.06, after the company reported better-than-expected earnings and revenue.

TD Asset Management Inc lowered its stake in shares of argenex SE (NASDAQ:ARGX - Free Report) by 18.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 140,575 shares of the company's stock after selling 32,106 shares during the period. TD Asset Management Inc owned approximately 0.23% of argenex worth $83,201,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Point72 Europe London LLP acquired a new stake in shares of argenex in the fourth quarter worth $5,839,000. Ameriprise Financial Inc. increased its position in shares of argenex by 10.0% in the fourth quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company's stock worth $4,313,000 after acquiring an additional 639 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of argenex in the first quarter worth $332,000. Dimensional Fund Advisors LP increased its position in shares of argenex by 21.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 24,929 shares of the company's stock worth $15,332,000 after acquiring an additional 4,445 shares in the last quarter. Finally, Summit Partners Public Asset Management LLC acquired a new stake in shares of argenex in the fourth quarter worth $18,211,000. Hedge funds and other institutional investors own 60.32% of the company's stock.

argenex Trading Up 13.0%

ARGX stock traded up $77.70 during mid-day trading on Thursday, hitting $676.59. 878,833 shares of the company were exchanged, compared to its average volume of 369,137. The company has a market capitalization of $41.41 billion, a PE ratio of 41.91, a price-to-earnings-growth ratio of 1.07 and a beta of 0.37. argenex SE has a twelve month low of $475.65 and a twelve month high of $689.13. The firm has a fifty day simple moving average of $567.33 and a 200 day simple moving average of $597.14.

argenex (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $2.58 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $748.34 million. As a group, sell-side analysts anticipate that argenex SE will post 3.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

ARGX has been the subject of several recent research 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. Citigroup reaffirmed a "buy" rating on shares of argenex in a report on Wednesday, May 21st. HC Wainwright reaffirmed a "buy" rating and set a $720.00 price target on shares of argenex in a report on Tuesday, July 1st. Wedbush reaffirmed an "outperform" rating and set a $715.00 price target on shares of argenex in a report on Monday, July 21st. Finally, Guggenheim lowered their price target on shares of argenex from $1,100.00 to $1,065.00 and set a "buy" rating for the company in a report on Friday, May 9th. Nineteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $728.06.

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.