Prosight Management LP Sells 18,700 Shares of argenex SE $ARGX

Prosight Management LP cut its stake in shares of argenex SE (NASDAQ:ARGX) by 85.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,300 shares of the company’s stock after selling 18,700 shares during the quarter. Prosight Management LP’s holdings in argenex were worth $2,434,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC increased its holdings in argenex by 32.1% during the 1st quarter. AQR Capital Management LLC now owns 502 shares of the company’s stock worth $297,000 after purchasing an additional 122 shares during the period. NewEdge Advisors LLC raised its position in argenex by 5,962.5% during the 1st quarter. NewEdge Advisors LLC now owns 1,455 shares of the company’s stock valued at $862,000 after purchasing an additional 1,431 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of argenex by 22.3% in the 1st quarter. Focus Partners Wealth now owns 400 shares of the company’s stock worth $237,000 after buying an additional 73 shares during the period. Geneos Wealth Management Inc. grew its position in shares of argenex by 550.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 117 shares of the company’s stock worth $69,000 after buying an additional 99 shares in the last quarter. Finally, Vise Technologies Inc. bought a new position in shares of argenex during the 2nd quarter worth $356,000. Institutional investors own 60.32% of the company’s stock.

argenex Price Performance

Shares of ARGX stock opened at $700.45 on Friday. argenex SE has a 1-year low of $510.05 and a 1-year high of $934.62. The stock’s 50-day moving average is $804.00 and its 200 day moving average is $815.97. The company has a market cap of $43.34 billion, a P/E ratio of 35.88, a PEG ratio of 1.17 and a beta of 0.38.

argenex (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, February 26th. The company reported $8.02 earnings per share for the quarter, beating analysts’ consensus estimates of $6.05 by $1.97. argenex had a net margin of 30.42% and a return on equity of 38.51%. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. On average, analysts anticipate that argenex SE will post 3.13 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on ARGX. Wall Street Zen downgraded argenex from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. JPMorgan Chase & Co. increased their target price on shares of argenex from $925.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Monday, December 8th. Citigroup cut their target price on shares of argenex from $1,124.00 to $1,091.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Citizens Jmp boosted their price target on shares of argenex from $925.00 to $944.00 and gave the company a “market outperform” rating in a report on Friday, February 27th. Finally, Wells Fargo & Company lowered their price target on shares of argenex from $1,317.00 to $1,247.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $999.22.

About argenex

argenx (NASDAQ: ARGX) is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx’s research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company’s lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.