Perpetual Ltd Cuts Stock Position in argenex SE $ARGX

Perpetual Ltd trimmed its holdings in shares of argenex SE (NASDAQ:ARGX) by 37.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,950 shares of the company’s stock after selling 18,429 shares during the quarter. Perpetual Ltd owned approximately 0.05% of argenex worth $26,027,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ARGX. Blue Trust Inc. grew its stake in argenex by 12.3% in the 4th quarter. Blue Trust Inc. now owns 164 shares of the company’s stock valued at $138,000 after acquiring an additional 18 shares during the period. Nilsine Partners LLC acquired a new position in argenex during the fourth quarter worth $3,072,000. Burns Matteson Capital Management LLC purchased a new position in argenex during the fourth quarter valued at $203,000. Trust Point Inc. acquired a new stake in shares of argenex in the fourth quarter valued at about $271,000. Finally, DAVENPORT & Co LLC grew its position in shares of argenex by 2.7% in the fourth quarter. DAVENPORT & Co LLC now owns 1,253 shares of the company’s stock valued at $1,054,000 after purchasing an additional 33 shares during the period. Hedge funds and other institutional investors own 60.32% of the company’s stock.

argenex Stock Performance

Shares of argenex stock opened at $746.42 on Friday. The firm has a market capitalization of $46.19 billion, a price-to-earnings ratio of 38.24, a PEG ratio of 1.23 and a beta of 0.46. argenex SE has a fifty-two week low of $510.05 and a fifty-two week high of $934.62. The stock has a 50 day moving average of $773.10 and a 200 day moving average of $812.65.

argenex (NASDAQ:ARGX) last posted its earnings results on Saturday, February 14th. The company reported $8.02 EPS for the quarter. argenex had a return on equity of 38.51% and a net margin of 30.42%. Analysts forecast that argenex SE will post 3.13 EPS for the current year.

Analysts Set New Price Targets

ARGX has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of argenex in a research report on Wednesday, January 21st. Wells Fargo & Company lowered their price objective on argenex from $1,317.00 to $1,247.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. Robert W. Baird boosted their price objective on argenex from $858.00 to $867.00 and gave the stock a “neutral” rating in a research note on Friday, February 27th. Citizens Jmp increased their target price on argenex from $925.00 to $944.00 and gave the company a “market outperform” rating in a report on Friday, February 27th. Finally, HC Wainwright raised their target price on argenex from $915.00 to $940.00 and gave the company a “buy” rating in a research report on Friday, February 27th. One 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,016.22.

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.