argenex SE $ARGX Shares Sold by Moore Capital Management LP

Moore Capital Management LP decreased its position in argenex SE (NASDAQ:ARGX) by 68.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 15,000 shares of the company’s stock after selling 32,000 shares during the period. Moore Capital Management LP’s holdings in argenex were worth $11,063,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Ameriflex Group Inc. acquired a new position in shares of argenex during the 3rd quarter worth $32,000. Bessemer Group Inc. boosted its position in shares of argenex by 276.5% in the 3rd quarter. Bessemer Group Inc. now owns 64 shares of the company’s stock worth $47,000 after buying an additional 47 shares in the last quarter. MAI Capital Management grew its stake in argenex by 866.7% in the 2nd quarter. MAI Capital Management now owns 87 shares of the company’s stock valued at $48,000 after acquiring an additional 78 shares during the last quarter. Mather Group LLC. acquired a new stake in argenex in the 3rd quarter valued at about $50,000. Finally, Rossby Financial LCC increased its holdings in argenex by 115.2% during the 3rd quarter. Rossby Financial LCC now owns 71 shares of the company’s stock valued at $54,000 after acquiring an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

argenex Price Performance

argenex stock opened at $703.30 on Tuesday. The company has a market cap of $43.52 billion, a price-to-earnings ratio of 36.03, a price-to-earnings-growth ratio of 1.16 and a beta of 0.38. argenex SE has a 12 month low of $510.05 and a 12 month high of $934.62. The stock’s 50-day moving average is $802.05 and its 200-day moving average is $817.48.

argenex (NASDAQ:ARGX) last issued its earnings results on Thursday, February 26th. The company reported $8.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 38.51% and a net margin of 30.42%. Research analysts anticipate that argenex SE will post 3.13 EPS for the current year.

Analysts Set New Price Targets

ARGX has been the subject of a number of research reports. Citizens Jmp lifted 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. Citigroup lowered their price target 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. Weiss Ratings reissued a “hold (c)” rating on shares of argenex in a research note on Wednesday, January 21st. HC Wainwright lifted their price objective on argenex from $915.00 to $940.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Wells Fargo & Company reduced their target price on argenex from $1,317.00 to $1,247.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.