Eventide Asset Management LLC Decreases Stock Holdings in argenex SE $ARGX

Eventide Asset Management LLC trimmed its holdings in shares of argenex SE (NASDAQ:ARGX) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 121,221 shares of the company’s stock after selling 4,150 shares during the quarter. argenex makes up about 1.6% of Eventide Asset Management LLC’s investment portfolio, making the stock its 11th largest holding. Eventide Asset Management LLC owned approximately 0.20% of argenex worth $101,938,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Abound Wealth Management grew its position in argenex by 3,200.0% during the fourth quarter. Abound Wealth Management now owns 33 shares of the company’s stock valued at $28,000 after buying an additional 32 shares during the period. Sound Income Strategies LLC bought a new stake in argenex during the fourth quarter valued at approximately $28,000. Ameriflex Group Inc. bought a new stake in argenex during the third quarter valued at approximately $32,000. Aventura Private Wealth LLC bought a new stake in argenex during the fourth quarter valued at approximately $38,000. Finally, Sunbelt Securities Inc. bought a new stake in argenex during the third quarter valued at approximately $36,000. 60.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ARGX shares. Wall Street Zen lowered shares of argenex from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Guggenheim boosted their target price on shares of argenex from $1,120.00 to $1,135.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Wedbush restated an “outperform” rating and set a $1,000.00 target price on shares of argenex in a research report on Thursday. HC Wainwright boosted their target price on shares of argenex from $915.00 to $940.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Royal Bank Of Canada cut their target price on shares of argenex from $925.00 to $890.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, argenex presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,019.50.

argenex Price Performance

ARGX opened at $893.52 on Friday. The firm has a market cap of $55.57 billion, a P/E ratio of 39.78, a PEG ratio of 1.37 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 company has a 50 day simple moving average of $812.09 and a two-hundred day simple moving average of $812.17.

argenex (NASDAQ:ARGX) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share for the quarter. The business had revenue of $1.31 billion during the quarter. argenex had a net margin of 31.31% and a return on equity of 44.37%. Equities analysts anticipate 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.