Millennium Management LLC Sells 82,326 Shares of argenex SE $ARGX

Millennium Management LLC cut its holdings in argenex SE (NASDAQ:ARGX) by 19.2% during the third quarter, Holdings Channel.com reports. The firm owned 347,518 shares of the company’s stock after selling 82,326 shares during the quarter. Millennium Management LLC’s holdings in argenex were worth $256,315,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Sound View Wealth Advisors Group LLC boosted its holdings in argenex by 3.4% during the third quarter. Sound View Wealth Advisors Group LLC now owns 396 shares of the company’s stock worth $292,000 after purchasing an additional 13 shares during the last quarter. GAMMA Investing LLC grew its position in argenex by 6.8% in the third quarter. GAMMA Investing LLC now owns 251 shares of the company’s stock valued at $185,000 after purchasing an additional 16 shares in the last quarter. Portside Wealth Group LLC increased its stake in argenex by 2.8% in the 3rd quarter. Portside Wealth Group LLC now owns 583 shares of the company’s stock valued at $430,000 after buying an additional 16 shares during the last quarter. Cromwell Holdings LLC lifted its position in argenex by 10.0% during the 3rd quarter. Cromwell Holdings LLC now owns 187 shares of the company’s stock worth $138,000 after buying an additional 17 shares in the last quarter. Finally, Wealth Alliance LLC lifted its position in argenex by 2.7% during the 3rd quarter. Wealth Alliance LLC now owns 839 shares of the company’s stock worth $619,000 after buying an additional 22 shares in the last quarter. Institutional investors own 60.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Guggenheim decreased their price objective on argenex from $1,160.00 to $1,120.00 and set a “buy” rating for the company in a report on Friday, February 27th. Wolfe Research reiterated a “peer perform” rating on shares of argenex in a report on Monday, November 24th. Truist Financial increased their price target on argenex from $950.00 to $1,030.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. JPMorgan Chase & Co. raised their price target on argenex from $925.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Monday, December 8th. Finally, Wells Fargo & Company lowered their price target on argenex from $1,317.00 to $1,247.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $999.22.

argenex Price Performance

argenex stock opened at $703.30 on Tuesday. The company’s 50-day moving average is $802.05 and its 200-day moving average is $817.48. The firm has a market capitalization of $43.52 billion, a PE ratio of 36.03, a P/E/G ratio of 1.16 and a beta of 0.38. argenex SE has a fifty-two week low of $510.05 and a fifty-two week high of $934.62.

argenex (NASDAQ:ARGX) last issued its earnings results on Thursday, February 26th. The company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.30 billion. As a group, analysts expect that argenex SE will post 3.13 EPS for the current year.

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.