Sumitomo Mitsui Trust Group Inc. Lowers Holdings in argenex SE (NASDAQ:ARGX)

Sumitomo Mitsui Trust Group Inc. reduced its holdings in shares of argenex SE (NASDAQ:ARGX) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,522 shares of the company’s stock after selling 56 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in argenex were worth $901,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Point72 Europe London LLP purchased a new stake in shares of argenex during the 4th quarter worth $5,839,000. Ameriprise Financial Inc. raised its stake in argenex by 10.0% in the fourth quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company’s stock valued at $4,313,000 after buying an additional 639 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in argenex by 1,016.7% during the 4th quarter. Jones Financial Companies Lllp now owns 67 shares of the company’s stock worth $41,000 after buying an additional 61 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of argenex by 13.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,538 shares of the company’s stock worth $946,000 after acquiring an additional 181 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of argenex by 21.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,214 shares of the company’s stock valued at $2,592,000 after acquiring an additional 755 shares during the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenex Stock Performance

Shares of argenex stock opened at $543.32 on Friday. argenex SE has a one year low of $432.96 and a one year high of $678.21. The company has a market cap of $33.18 billion, a P/E ratio of 33.52, a PEG ratio of 0.98 and a beta of 0.37. The firm has a fifty day moving average of $575.98 and a two-hundred day moving average of $604.43.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on ARGX shares. Sanford C. Bernstein upgraded argenex from a “market perform” rating to an “outperform” rating in a research note on Monday, March 17th. JMP Securities set a $699.00 target price on shares of argenex in a report on Wednesday, May 14th. Wedbush reiterated an “outperform” rating and set a $715.00 price target on shares of argenex in a research note on Tuesday, June 24th. HC Wainwright reissued a “buy” rating and issued a $720.00 price target on shares of argenex in a research report on Tuesday, July 1st. Finally, Baird R W upgraded shares of argenex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating, eighteen have assigned 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.