argenex SE $ARGX Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its stake in argenex SE (NASDAQ:ARGX) by 12.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 173,394 shares of the company’s stock after selling 24,888 shares during the period. Pictet Asset Management Holding SA owned about 0.28% of argenex worth $166,375,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ARGX. Squarepoint Ops LLC grew its position in argenex by 314.8% in the second quarter. Squarepoint Ops LLC now owns 58,400 shares of the company’s stock valued at $54,182,000 after acquiring an additional 44,321 shares during the period. Tidal Investments LLC raised its stake in argenex by 97.8% during the second quarter. Tidal Investments LLC now owns 2,362 shares of the company’s stock worth $2,191,000 after acquiring an additional 1,168 shares in the last quarter. Peregrine Capital Management LLC bought a new position in shares of argenex during the second quarter valued at $27,584,000. Optiver Holding B.V. lifted its holdings in shares of argenex by 907.0% during the first quarter. Optiver Holding B.V. now owns 10,110 shares of the company’s stock valued at $7,383,000 after acquiring an additional 9,106 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of argenex by 120.3% during the third quarter. Assenagon Asset Management S.A. now owns 36,417 shares of the company’s stock valued at $34,921,000 after acquiring an additional 19,886 shares during the period. Institutional investors own 60.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ARGX shares. Royal Bank Of Canada reduced their target price on shares of argenex from $1,100.00 to $1,025.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 20th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of argenex in a research report on Wednesday, August 5th. Jefferies Financial Group reissued a “buy” rating on shares of argenex in a report on Monday, September 14th. HC Wainwright boosted their price target on shares of argenex from $940.00 to $1,202.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Finally, Barclays restated a “buy” rating on shares of argenex in a research report on Monday, September 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, argenex presently has an average rating of “Moderate Buy” and a consensus target price of $1,158.76.

argenex Stock Performance

Shares of ARGX opened at $927.21 on Monday. The stock has a fifty day moving average price of $930.66 and a two-hundred day moving average price of $857.30. argenex SE has a 52-week low of $661.85 and a 52-week high of $1,072.75. The company has a market cap of $58.31 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 0.86 and a beta of 0.48.

argenex (NASDAQ:ARGX) last posted its quarterly earnings data on Friday, October 23rd. The company reported $7.80 EPS for the quarter, topping analysts’ consensus estimates of $7.44 by $0.36. The company had revenue of $1.75 billion for the quarter. argenex had a return on equity of 47.70% and a net margin of 31.66%. As a group, research analysts predict that argenex SE will post 28.41 EPS for the current fiscal year.

argenex Profile

argenx SE is a global immunology company focused on developing medicines for autoimmune diseases. Founded in 2008 and headquartered in the Netherlands, the company uses antibody engineering and other research approaches to identify and develop treatments for conditions with significant unmet medical needs.

Its lead medicine is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo. These products target the neonatal Fc receptor (FcRn) and are approved in the United States for certain patients with generalized myasthenia gravis; Vyvgart Hytrulo is also approved for chronic inflammatory demyelinating polyneuropathy.