Avantax Advisory Services Inc. Trims Stake in argenex SE (NASDAQ:ARGX)

Avantax Advisory Services Inc. reduced its position in argenex SE (NASDAQ:ARGX) by 5.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,000 shares of the company’s stock after selling 61 shares during the period. Avantax Advisory Services Inc.’s holdings in argenex were worth $592,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Europe London LLP purchased a new stake in argenex during the 4th quarter valued at approximately $5,839,000. Ameriprise Financial Inc. raised its stake in argenex by 10.0% during the 4th quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company’s stock valued at $4,313,000 after acquiring an additional 639 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in argenex during the 1st quarter valued at approximately $332,000. Dimensional Fund Advisors LP raised its stake in argenex by 21.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 24,929 shares of the company’s stock valued at $15,332,000 after acquiring an additional 4,445 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC purchased a new stake in argenex during the 4th quarter valued at approximately $18,211,000. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenex Stock Performance

NASDAQ ARGX opened at $690.32 on Tuesday. argenex SE has a twelve month low of $475.65 and a twelve month high of $691.02. The stock has a market cap of $42.25 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 0.93 and a beta of 0.39. The firm’s 50 day moving average price is $573.16 and its two-hundred day moving average price is $596.64.

argenex (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, July 31st. The company reported $3.74 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $776.82 million. On average, research analysts forecast that argenex SE will post 3.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Guggenheim boosted their target price on argenex from $1,060.00 to $1,070.00 and gave the stock a “buy” rating in a research report on Friday. Morgan Stanley boosted their target price on argenex from $700.00 to $766.00 and gave the stock an “overweight” rating in a research report on Friday. Wedbush reiterated an “outperform” rating and set a $715.00 target price on shares of argenex in a research report on Monday, July 21st. Robert W. Baird upgraded argenex from a “neutral” rating to an “outperform” rating and set a $680.00 target price on the stock in a research report on Tuesday, May 13th. Finally, Citigroup reiterated a “buy” rating on shares of argenex in a research report on Wednesday, May 21st. Nineteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $746.81.

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.