Ethic Inc. Cuts Stake in argenex SE $ARGX

Ethic Inc. cut its stake in argenex SE (NASDAQ:ARGX) by 4.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,178 shares of the company’s stock after selling 52 shares during the quarter. Ethic Inc.’s holdings in argenex were worth $668,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ARGX. Point72 Asset Management L.P. acquired a new position in argenex in the fourth quarter worth about $91,013,000. GAMMA Investing LLC boosted its stake in argenex by 53,684.9% in the first quarter. GAMMA Investing LLC now owns 135,538 shares of the company’s stock valued at $802,200,000 after acquiring an additional 135,286 shares during the period. Assenagon Asset Management S.A. boosted its stake in argenex by 215.8% in the first quarter. Assenagon Asset Management S.A. now owns 110,390 shares of the company’s stock valued at $65,336,000 after acquiring an additional 75,435 shares during the period. Lord Abbett & CO. LLC boosted its stake in argenex by 33.2% in the first quarter. Lord Abbett & CO. LLC now owns 274,700 shares of the company’s stock valued at $162,585,000 after acquiring an additional 68,498 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in shares of argenex by 1,086.6% during the fourth quarter. Lazard Asset Management LLC now owns 70,637 shares of the company’s stock valued at $43,440,000 after buying an additional 64,684 shares during the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wedbush reissued an “outperform” rating and set a $715.00 target price on shares of argenex in a report on Monday, July 21st. JPMorgan Chase & Co. lifted their price objective on shares of argenex from $775.00 to $830.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. HC Wainwright lifted their price objective on shares of argenex from $720.00 to $774.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Wells Fargo & Company boosted their price target on shares of argenex from $741.00 to $756.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Finally, Robert W. Baird upgraded shares of argenex from a “neutral” rating to an “outperform” rating and set a $680.00 price target on the stock in a report on Tuesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating and eighteen have given a Buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $746.81.

argenex Price Performance

argenex stock opened at $660.97 on Thursday. The firm has a market cap of $40.45 billion, a price-to-earnings ratio of 33.90, a P/E/G ratio of 0.76 and a beta of 0.39. argenex SE has a fifty-two week low of $510.05 and a fifty-two week high of $696.21. The firm has a fifty day moving average price of $592.00 and a two-hundred day moving average price of $597.99.

argenex (NASDAQ:ARGX) last released 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. The firm had revenue of $866.79 million during the quarter, compared to analyst estimates of $776.82 million. argenex had a net margin of 40.98% and a return on equity of 21.06%. As a group, sell-side analysts expect that argenex SE will post 3.13 earnings per share for the current year.

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.