Assenagon Asset Management S.A. Sells 9,561 Shares of argenex SE $ARGX

Assenagon Asset Management S.A. decreased its holdings in shares of argenex SE (NASDAQ:ARGX) by 39.3% in the first quarter, HoldingsChannel reports. The firm owned 14,786 shares of the company’s stock after selling 9,561 shares during the quarter. Assenagon Asset Management S.A.’s holdings in argenex were worth $10,797,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ARGX. Abound Wealth Management lifted its stake in argenex by 3,200.0% in the fourth quarter. Abound Wealth Management now owns 33 shares of the company’s stock worth $28,000 after acquiring an additional 32 shares during the period. Sound Income Strategies LLC bought a new stake in argenex in the fourth quarter valued at $28,000. Ameriflex Group Inc. purchased a new position in argenex during the 3rd quarter valued at $32,000. Aventura Private Wealth LLC purchased a new position in argenex during the 4th quarter valued at $38,000. Finally, Sunbelt Securities Inc. bought a new position in argenex in the 3rd quarter worth $36,000. 60.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on ARGX shares. Oppenheimer lowered their price objective on shares of argenex from $1,060.00 to $1,014.00 and set an “outperform” rating for the company in a report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft upgraded argenex from a “hold” rating to a “buy” rating in a report on Tuesday, March 10th. Morgan Stanley raised their target price on argenex from $1,170.00 to $1,180.00 and gave the company an “overweight” rating in a research note on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of argenex in a research report on Monday, April 20th. Finally, Glj Research raised argenex to a “strong-buy” rating in a research note on Friday, April 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, argenex has an average rating of “Moderate Buy” and an average price target of $1,023.39.

argenex Price Performance

ARGX stock opened at $887.18 on Friday. The company has a market cap of $55.17 billion, a P/E ratio of 39.50, a price-to-earnings-growth ratio of 1.36 and a beta of 0.47. argenex SE has a 1 year low of $510.05 and a 1 year high of $934.62. The stock’s fifty day moving average price is $830.60 and its 200-day moving average price is $809.89.

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