Envestnet Portfolio Solutions Inc. Cuts Position in argenex SE (NASDAQ:ARGX)

Envestnet Portfolio Solutions Inc. lessened its stake in argenex SE (NASDAQ:ARGX) by 40.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 904 shares of the company’s stock after selling 605 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in argenex were worth $535,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. FMR LLC increased its holdings in argenex by 17.2% during the 4th quarter. FMR LLC now owns 5,618,222 shares of the company’s stock valued at $3,455,207,000 after acquiring an additional 824,750 shares in the last quarter. Capital World Investors grew its holdings 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 buying an additional 86,687 shares in the last quarter. RTW Investments LP grew its holdings 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 buying an additional 19,067 shares in the last quarter. Clearbridge Investments LLC grew its holdings 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 buying an additional 40,330 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings 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 buying an additional 43,239 shares in the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

argenex Trading Down 0.1%

NASDAQ ARGX opened at $560.04 on Friday. The company’s fifty day simple moving average is $582.30 and its 200-day simple moving average is $607.41. argenex SE has a 52 week low of $428.76 and a 52 week high of $678.21. The stock has a market cap of $34.20 billion, a P/E ratio of 34.55, a PEG ratio of 1.02 and a beta of 0.39.

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

Wall Street Analyst Weigh In

ARGX has been the topic of several research analyst reports. JMP Securities set a $699.00 target price on shares of argenex in a research report on Wednesday, May 14th. Wells Fargo & Company lifted their price target on shares of argenex from $723.00 to $741.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Oppenheimer lifted their price target 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. HC Wainwright reaffirmed a “buy” rating and set a $720.00 price target on shares of argenex in a research report on Tuesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft raised shares of argenex from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $729.93.

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.