argenex SE $ARGX Shares Sold by Prosight Management LP

Prosight Management LP trimmed its holdings in shares of argenex SE (NASDAQ:ARGX) by 85.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,300 shares of the company’s stock after selling 18,700 shares during the period. Prosight Management LP’s holdings in argenex were worth $2,434,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ARGX. Ameriflex Group Inc. acquired a new stake in argenex in the third quarter worth about $32,000. Bessemer Group Inc. grew its stake in shares of argenex by 276.5% during the third quarter. Bessemer Group Inc. now owns 64 shares of the company’s stock worth $47,000 after acquiring an additional 47 shares during the last quarter. MAI Capital Management increased its holdings in shares of argenex by 866.7% during the second quarter. MAI Capital Management now owns 87 shares of the company’s stock valued at $48,000 after acquiring an additional 78 shares in the last quarter. Mather Group LLC. purchased a new position in shares of argenex in the 3rd quarter valued at approximately $50,000. Finally, Rossby Financial LCC raised its position in shares of argenex by 115.2% in the 3rd quarter. Rossby Financial LCC now owns 71 shares of the company’s stock valued at $54,000 after purchasing an additional 38 shares during the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on ARGX shares. Citizens Jmp boosted their target price on shares of argenex from $925.00 to $944.00 and gave the stock a “market outperform” rating in a research report on Friday, February 27th. Wall Street Zen cut shares of argenex from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Wolfe Research reiterated a “peer perform” rating on shares of argenex in a research note on Monday, November 24th. Zacks Research raised shares of argenex from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. Finally, Robert W. Baird raised their target price on argenex from $858.00 to $867.00 and gave the stock a “neutral” rating in a research note on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $999.22.

argenex Trading Down 1.2%

Shares of NASDAQ:ARGX opened at $700.45 on Friday. argenex SE has a twelve month low of $510.05 and a twelve month high of $934.62. The company has a market cap of $43.34 billion, a PE ratio of 35.88, a price-to-earnings-growth ratio of 1.17 and a beta of 0.38. The company’s 50 day moving average is $804.00 and its 200 day moving average is $815.97.

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

argenex Profile

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.