Pictet Asset Management Holding SA Reduces Stock Position in argenex SE $ARGX

Pictet Asset Management Holding SA trimmed its stake in shares of argenex SE (NASDAQ:ARGX) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 148,306 shares of the company’s stock after selling 4,905 shares during the period. Pictet Asset Management Holding SA owned about 0.24% of argenex worth $108,022,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Capital World Investors raised its holdings in argenex by 0.4% during the third quarter. Capital World Investors now owns 1,959,504 shares of the company’s stock worth $1,445,113,000 after purchasing an additional 8,422 shares during the last quarter. M&T Bank Corp grew its holdings in argenex by 20,977.7% in the fourth quarter. M&T Bank Corp now owns 778,610 shares of the company’s stock valued at $654,772,000 after purchasing an additional 774,916 shares during the last quarter. Wellington Management Group LLP increased its position in shares of argenex by 80.1% in the third quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock valued at $538,408,000 after buying an additional 324,653 shares in the last quarter. Morgan Stanley increased its position in shares of argenex by 19.2% in the fourth quarter. Morgan Stanley now owns 518,852 shares of the company’s stock valued at $436,331,000 after buying an additional 83,746 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of argenex by 390.4% during the 4th quarter. Invesco Ltd. now owns 416,408 shares of the company’s stock worth $350,178,000 after buying an additional 331,489 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on ARGX shares. HC Wainwright reiterated a “buy” rating and issued a $940.00 price objective on shares of argenex in a research report on Thursday. Morgan Stanley lifted their target price on shares of argenex from $1,170.00 to $1,180.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft raised shares of argenex from a “hold” rating to a “buy” rating in a report on Tuesday, March 10th. Wells Fargo & Company increased their price target on shares of argenex from $1,260.00 to $1,291.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Finally, Guggenheim raised their price objective on shares of argenex from $1,120.00 to $1,135.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,023.39.

argenex Stock Performance

argenex stock opened at $887.18 on Monday. The stock has a market cap of $55.17 billion, a PE ratio of 39.50, a P/E/G ratio of 1.36 and a beta of 0.47. The stock has a 50-day moving average price of $830.60 and a 200 day moving average price of $809.26. argenex SE has a 52 week low of $510.05 and a 52 week high of $934.62.

argenex (NASDAQ:ARGX) last released its quarterly earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share (EPS) for the quarter. The company had revenue of $1.31 billion for the quarter. argenex had a net margin of 31.31% and a return on equity of 44.37%. On average, equities analysts predict that argenex SE will post 26.19 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.