TD Asset Management Inc Trims Stake in argenex SE $ARGX

TD Asset Management Inc reduced its position in argenex SE (NASDAQ:ARGX) by 16.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,523 shares of the company’s stock after selling 19,379 shares during the quarter. TD Asset Management Inc’s holdings in argenex were worth $85,376,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ARGX. Abound Wealth Management raised its position in argenex by 3,200.0% in the 4th quarter. Abound Wealth Management now owns 33 shares of the company’s stock worth $28,000 after purchasing an additional 32 shares during the period. Sound Income Strategies LLC purchased a new stake in argenex in the 4th quarter worth about $28,000. Ameriflex Group Inc. purchased a new position in shares of argenex during the third quarter worth approximately $32,000. Sunbelt Securities Inc. purchased a new position in shares of argenex during the third quarter worth approximately $36,000. Finally, Aventura Private Wealth LLC purchased a new position in shares of argenex during the fourth quarter worth approximately $38,000. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenex Stock Performance

Shares of NASDAQ:ARGX opened at $842.27 on Friday. The firm’s 50 day simple moving average is $791.02 and its 200-day simple moving average is $812.87. argenex SE has a one year low of $510.05 and a one year high of $934.62. The firm has a market cap of $52.38 billion, a PE ratio of 37.50, a price-to-earnings-growth ratio of 1.24 and a beta of 0.47.

argenex (NASDAQ:ARGX) last released its quarterly earnings data on Tuesday, March 31st. The company reported $5.52 earnings per share (EPS) for the quarter. argenex had a net margin of 31.31% and a return on equity of 33.28%. The firm had revenue of $1.31 billion for the quarter. Equities research analysts predict that argenex SE will post 26.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ARGX shares. HC Wainwright raised their target price on shares of argenex from $915.00 to $940.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of argenex in a research report on Monday, April 20th. Wedbush reaffirmed an “outperform” rating and set a $1,000.00 target price on shares of argenex in a research report on Thursday. Wall Street Zen lowered shares of argenex from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Wells Fargo & Company raised their target price on shares of argenex from $1,260.00 to $1,291.00 and gave the stock an “overweight” rating in a research report on Monday. 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, argenex has a consensus rating of “Moderate Buy” and an average target price of $1,019.50.

argenex Company Profile

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.