argenex SE $ARGX Position Cut by Rock Springs Capital Management LP

Rock Springs Capital Management LP trimmed its stake in argenex SE (NASDAQ:ARGX) by 4.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,500 shares of the company’s stock after selling 4,750 shares during the period. argenex makes up about 4.2% of Rock Springs Capital Management LP’s portfolio, making the stock its 5th biggest position. Rock Springs Capital Management LP’s holdings in argenex were worth $71,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of ARGX. Sound Income Strategies LLC bought a new position in shares of argenex during the 4th quarter valued at approximately $28,000. Whipplewood Advisors LLC bought a new stake in argenex in the first quarter worth $28,000. Sunbelt Securities Inc. purchased a new position in argenex during the third quarter worth $36,000. WPG Advisers LLC boosted its stake in argenex by 17.8% during the first quarter. WPG Advisers LLC now owns 86 shares of the company’s stock worth $63,000 after buying an additional 13 shares during the period. Finally, SBI Securities Co. Ltd. increased its position in argenex by 268.2% during the fourth quarter. SBI Securities Co. Ltd. now owns 81 shares of the company’s stock valued at $68,000 after acquiring an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

Trending Headlines about argenex

Here are the key news stories impacting argenex this week:

• Positive Sentiment: argenx agreed to acquire Forte Biosciences (NASDAQ: FBRX) for $77 per share in cash, representing an equity value of approximately $2.2 billion and a 41% premium to Forte’s prior closing price. The transaction gives argenx full ownership of FB102, an experimental autoimmune therapy. argenx acquisition announcement
• Positive Sentiment: FB102’s Phase 1b data in vitiligo and celiac disease reportedly support CD122 biology and a potential “pipeline-in-a-product” opportunity targeting pathogenic T-cell and NK-cell activity in diseases with significant unmet need. The acquisition broadens argenx’s immunology pipeline beyond its existing portfolio. argenx Forte acquisition details
• Positive Sentiment: Analyst sentiment remains supportive in parts of the market: Robert W. Baird raised its price target to $932, while HC Wainwright increased its earnings estimates. A separate Oppenheimer report had previously lifted its target to $1,037.
• Neutral Sentiment: Baird maintained a “neutral” rating despite the higher target, implying that the acquisition’s long-term value is not yet fully reflected in near-term expectations. Baird price target report
• Negative Sentiment: The all-cash $2.2 billion transaction represents a substantial capital commitment for a clinical-stage asset. Investors may be concerned about integration costs, future development spending and the risk that FB102’s early-stage results do not translate into successful late-stage trials or commercialization. One analysis consequently rated the stock “Hold.” Forte and argenx investment analysis

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ARGX shares. Citizens Jmp reduced their target price on shares of argenex from $944.00 to $932.00 and set a “market outperform” rating on the stock in a research note on Friday. Wedbush reaffirmed an “outperform” rating and set a $1,000.00 price target on shares of argenex in a research note on Thursday, June 11th. Morgan Stanley upped their price target on shares of argenex from $1,170.00 to $1,180.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Royal Bank Of Canada increased their price objective on shares of argenex from $945.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Citigroup raised their price objective on shares of argenex from $1,152.00 to $1,182.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,054.11.

argenex Trading Down 3.2%

Shares of argenex stock opened at $888.82 on Tuesday. The stock’s fifty day moving average price is $870.53 and its 200-day moving average price is $815.82. The firm has a market cap of $55.60 billion, a P/E ratio of 34.13, a P/E/G ratio of 1.21 and a beta of 0.45. argenex SE has a 12 month low of $590.78 and a 12 month high of $953.58.

argenex (NASDAQ:ARGX) last released its quarterly earnings data on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, topping analysts’ consensus estimates of $5.86 by $1.46. argenex had a net margin of 32.19% and a return on equity of 43.59%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.45 billion. Analysts forecast that argenex SE will post 26.95 earnings per share for the current 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.