argenex SE $ARGX Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of argenex SE (NASDAQ:ARGX) by 27.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,934 shares of the company’s stock after purchasing an additional 412 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in argenex were worth $1,066,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. WPG Advisers LLC acquired a new stake in argenex during the 1st quarter worth about $37,000. Brooklyn Investment Group increased its position in shares of argenex by 102.7% in the first quarter. Brooklyn Investment Group now owns 75 shares of the company’s stock worth $44,000 after acquiring an additional 38 shares in the last quarter. Banque Transatlantique SA acquired a new stake in shares of argenex during the first quarter valued at approximately $62,000. Geneos Wealth Management Inc. lifted its position in shares of argenex by 550.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 117 shares of the company’s stock valued at $69,000 after acquiring an additional 99 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in shares of argenex in the 1st quarter valued at approximately $76,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenex Stock Performance

Shares of ARGX stock opened at $818.50 on Friday. The stock’s 50 day simple moving average is $769.14 and its 200 day simple moving average is $654.03. argenex SE has a twelve month low of $510.05 and a twelve month high of $855.46. The company has a market capitalization of $50.40 billion, a price-to-earnings ratio of 35.14, a PEG ratio of 0.89 and a beta of 0.46.

argenex (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, July 31st. The company reported $3.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.90. argenex had a net margin of 41.58% and a return on equity of 22.33%. The company had revenue of $866.79 million during the quarter, compared to analysts’ expectations of $776.82 million. On average, analysts forecast that argenex SE will post 3.13 EPS for the current fiscal year.

Analysts Set New Price Targets

ARGX has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of argenex from $766.00 to $1,040.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Jefferies Financial Group set a $818.00 price objective on argenex and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Evercore ISI raised their price objective on argenex from $775.00 to $910.00 and gave the stock an “outperform” rating in a research report on Friday. Piper Sandler upped their target price on argenex from $750.00 to $820.00 and gave the company an “overweight” rating in a report on Tuesday, August 26th. Finally, Royal Bank Of Canada raised their price target on shares of argenex from $850.00 to $860.00 and gave the stock an “outperform” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $851.70.

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.