Rhumbline Advisers Sells 2,213 Shares of argenex SE (NASDAQ:ARGX)

Rhumbline Advisers lessened its stake in argenex SE (NASDAQ:ARGX) by 61.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,395 shares of the company’s stock after selling 2,213 shares during the quarter. Rhumbline Advisers’ holdings in argenex were worth $826,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of argenex by 17.2% in the fourth quarter. FMR LLC now owns 5,618,222 shares of the company’s stock worth $3,455,207,000 after acquiring an additional 824,750 shares in the last quarter. Capital World Investors raised its position in shares of argenex by 5.1% during the fourth quarter. Capital World Investors now owns 1,786,936 shares of the company’s stock worth $1,099,002,000 after purchasing an additional 86,687 shares during the period. RTW Investments LP raised its position in shares of argenex by 2.9% during the fourth quarter. RTW Investments LP now owns 673,497 shares of the company’s stock worth $414,201,000 after purchasing an additional 19,067 shares during the period. Clearbridge Investments LLC raised its position in shares of argenex by 6.8% during the fourth quarter. Clearbridge Investments LLC now owns 629,828 shares of the company’s stock worth $387,344,000 after purchasing an additional 40,330 shares during the period. Finally, Lord Abbett & CO. LLC raised its position in shares of argenex by 26.5% during the fourth quarter. Lord Abbett & CO. LLC now owns 206,202 shares of the company’s stock worth $126,814,000 after purchasing an additional 43,239 shares during the period. Institutional investors own 60.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Sanford C. Bernstein raised argenex from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th. Wells Fargo & Company raised their price target on argenex from $723.00 to $741.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Baird R W raised argenex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. JMP Securities set a $699.00 price target on argenex in a research report on Wednesday, May 14th. Finally, Oppenheimer raised their price target on argenex from $704.00 to $708.00 and gave the stock an “outperform” rating in a research report on Friday, May 9th. One analyst has rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, argenex presently has an average rating of “Buy” and an average price target of $709.18.

argenex Stock Up 0.8%

ARGX stock opened at $542.15 on Friday. The company has a market cap of $33.10 billion, a price-to-earnings ratio of 33.45, a P/E/G ratio of 0.97 and a beta of 0.39. argenex SE has a twelve month low of $387.04 and a twelve month high of $678.21. The business has a 50 day moving average price of $585.62 and a two-hundred day moving average price of $609.17.

argenex (NASDAQ:ARGX) last posted its quarterly earnings results on Thursday, May 8th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.26. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $748.34 million. argenex had a return on equity of 16.15% and a net margin of 40.20%. On average, equities research analysts anticipate that argenex SE will post 3.13 EPS for the current fiscal year.

argenex Company 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.