Blue Trust Inc. Trims Stake in argenex SE (NASDAQ:ARGX)

Blue Trust Inc. reduced its holdings in shares of argenex SE (NASDAQ:ARGX) by 12.1% in the first quarter, Holdings Channel reports. The institutional investor owned 145 shares of the company’s stock after selling 20 shares during the period. Blue Trust Inc.’s holdings in argenex were worth $86,000 as of its most recent filing with the Securities and Exchange Commission.

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

argenex Stock Performance

Shares of NASDAQ:ARGX opened at $560.53 on Thursday. The firm has a fifty day moving average price of $583.02 and a 200 day moving average price of $607.76. argenex SE has a fifty-two week low of $428.76 and a fifty-two week high of $678.21. The firm has a market cap of $34.23 billion, a price-to-earnings ratio of 34.58, a P/E/G ratio of 1.03 and a beta of 0.39.

argenex (NASDAQ:ARGX) last issued its earnings results on Thursday, May 8th. The company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $748.34 million. As a group, research analysts predict that argenex SE will post 3.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ARGX. Wells Fargo & Company increased their price objective on shares of argenex from $723.00 to $741.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Citigroup reissued a “buy” rating on shares of argenex in a research note on Wednesday, May 21st. Sanford C. Bernstein raised shares of argenex from a “market perform” rating to an “outperform” rating in a research note on Monday, March 17th. Wedbush reissued an “outperform” rating and issued a $715.00 price objective on shares of argenex in a research note on Tuesday. Finally, William Blair reissued an “outperform” rating on shares of argenex in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently 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.