Sectoral Asset Management Inc. decreased its holdings in shares of argenex SE (NASDAQ:ARGX – Free Report) by 25.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,894 shares of the company’s stock after selling 996 shares during the quarter. argenex comprises 1.9% of Sectoral Asset Management Inc.’s holdings, making the stock its 15th largest holding. Sectoral Asset Management Inc.’s holdings in argenex were worth $2,434,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. Genus Capital Management Inc. grew its stake in shares of argenex by 59.3% in the fourth quarter. Genus Capital Management Inc. now owns 725 shares of the company’s stock valued at $610,000 after buying an additional 270 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of argenex by 44.4% in the fourth quarter. Hantz Financial Services Inc. now owns 1,878 shares of the company’s stock valued at $1,579,000 after buying an additional 577 shares in the last quarter. Simplify Asset Management Inc. grew its stake in shares of argenex by 87.8% in the fourth quarter. Simplify Asset Management Inc. now owns 3,115 shares of the company’s stock valued at $2,620,000 after buying an additional 1,456 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of argenex in the fourth quarter valued at $188,071,000. Finally, Life Cycle Investment Partners Ltd acquired a new stake in shares of argenex in the fourth quarter valued at $38,537,000. 60.32% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on ARGX. Guggenheim lifted their price objective on argenex from $1,120.00 to $1,135.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft raised argenex from a “hold” rating to a “buy” rating in a research note on Tuesday, March 10th. Oppenheimer dropped their price objective on argenex from $1,060.00 to $1,014.00 and set an “outperform” rating for the company in a research note on Thursday, April 2nd. Royal Bank Of Canada dropped their price objective on argenex from $925.00 to $890.00 and set an “outperform” rating for the company in a research note on Friday, February 27th. Finally, Wall Street Zen cut argenex from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,017.78.
argenex Stock Performance
NASDAQ:ARGX opened at $806.46 on Monday. The firm has a market cap of $49.90 billion, a PE ratio of 35.91, a price-to-earnings-growth ratio of 1.28 and a beta of 0.46. The stock has a fifty day moving average price of $767.17 and a 200 day moving average price of $815.79. argenex SE has a 12-month low of $510.05 and a 12-month high of $934.62.
argenex (NASDAQ:ARGX – Get Free Report) last released its earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share (EPS) for the quarter. The firm had revenue of $1.31 billion during the quarter. argenex had a return on equity of 33.28% and a net margin of 31.31%. Equities analysts forecast that argenex SE will post 25.27 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.
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