6,059 Shares in argenex SE $ARGX Purchased by Trexquant Investment LP

Key Points

• Trexquant Investment LP has acquired a new position in argenex SE, purchasing 6,059 shares valued at approximately $3.59 million.
• Analysts have shown optimism for argenex, with two analysts rating it a Strong Buy and a consensus price target of $772.84.
• argenex reported strong second-quarter earnings, with $3.74 earnings per share, exceeding expectations by $0.90 and recording revenue of $866.79 million.

Trexquant Investment LP bought a new position in argenex SE (NASDAQ:ARGX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,059 shares of the company's stock, valued at approximately $3,586,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Europe London LLP purchased a new stake in argenex in the fourth quarter worth approximately $5,839,000. Ameriprise Financial Inc. boosted its stake in shares of argenex by 10.0% during the 4th quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company's stock worth $4,313,000 after acquiring an additional 639 shares during the last quarter. Sowell Financial Services LLC purchased a new position in shares of argenex during the 1st quarter worth $332,000. Cetera Investment Advisers boosted its stake in shares of argenex by 33.1% during the 1st quarter. Cetera Investment Advisers now owns 5,491 shares of the company's stock worth $3,250,000 after acquiring an additional 1,364 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of argenex by 21.7% during the 4th 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 during the last quarter. Hedge funds and other institutional investors own 60.32% of the company's stock.

argenex Price Performance

Shares of argenex stock traded up $7.48 during trading hours on Monday, reaching $758.26. The company's stock had a trading volume of 85,593 shares, compared to its average volume of 375,501. The firm has a 50 day moving average price of $627.89 and a 200-day moving average price of $602.06. argenex SE has a one year low of $510.05 and a one year high of $758.34. The stock has a market cap of $46.41 billion, a P/E ratio of 38.90, a P/E/G ratio of 0.80 and a beta of 0.41.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ARGX shares. Wall Street Zen upgraded shares of argenex from a "hold" rating to a "buy" rating in a research note on Saturday. Guggenheim raised their price objective on shares of argenex from $1,060.00 to $1,070.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Wells Fargo & Company raised 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. HC Wainwright raised their price objective on shares of argenex from $720.00 to $774.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada assumed coverage on shares of argenex in a research report on Monday, August 25th. They set an "outperform" rating and a $850.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $772.84.

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.