Wellington Management Group LLP Reduces Stock Position in argenex SE $ARGX

Wellington Management Group LLP trimmed its holdings in argenex SE (NASDAQ:ARGX) by 8.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 930,548 shares of the company’s stock after selling 90,909 shares during the period. Wellington Management Group LLP owned about 1.49% of argenex worth $863,335,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Whipplewood Advisors LLC acquired a new stake in shares of argenex during the first quarter worth approximately $28,000. Eastern Bank acquired a new stake in argenex in the second quarter valued at $32,000. Sunbelt Securities Inc. bought a new position in argenex during the 3rd quarter valued at $36,000. Axiom Investment Management LLC bought a new position in argenex during the 1st quarter valued at $50,000. Finally, WPG Advisers LLC boosted its stake in argenex by 17.8% during the 1st quarter. WPG Advisers LLC now owns 86 shares of the company’s stock valued at $63,000 after acquiring an additional 13 shares during the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Morgan Stanley boosted their target price on shares of argenex from $1,200.00 to $1,230.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 18th. Wells Fargo & Company lifted their price target on argenex from $1,350.00 to $1,415.00 and gave the stock an “overweight” rating in a research note on Wednesday. UBS Group raised argenex from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $960.00 to $1,400.00 in a report on Wednesday. Piper Sandler upped their price objective on argenex from $1,075.00 to $1,215.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. Finally, HC Wainwright increased their target price on argenex from $940.00 to $1,202.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,157.50.

argenex Stock Down 3.4%

Shares of NASDAQ:ARGX opened at $1,023.21 on Friday. The company has a market cap of $64.01 billion, a PE ratio of 39.29, a P/E/G ratio of 1.06 and a beta of 0.46. argenex SE has a fifty-two week low of $661.85 and a fifty-two week high of $1,061.57. The firm has a 50-day simple moving average of $910.13 and a 200 day simple moving average of $834.13.

argenex (NASDAQ:ARGX) last issued its earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) 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 firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.45 billion. As a group, research analysts forecast that argenex SE will post 29.04 EPS for the current fiscal 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.