China Universal Asset Management Co. Ltd. Reduces Stock Position in argenex SE $ARGX

China Universal Asset Management Co. Ltd. lessened its position in argenex SE (NASDAQ:ARGX) by 15.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,366 shares of the company’s stock after selling 969 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in argenex were worth $3,958,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Adage Capital Partners GP L.L.C. grew its stake in shares of argenex by 114.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock worth $163,775,000 after purchasing an additional 158,476 shares during the last quarter. Franklin Resources Inc. raised its position in argenex by 103.9% during the 2nd quarter. Franklin Resources Inc. now owns 279,803 shares of the company’s stock valued at $154,233,000 after purchasing an additional 142,606 shares during the last quarter. Jennison Associates LLC lifted its holdings in argenex by 6.1% in the 2nd quarter. Jennison Associates LLC now owns 264,647 shares of the company’s stock worth $145,879,000 after buying an additional 15,186 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of argenex by 14.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 211,330 shares of the company’s stock worth $162,160,000 after buying an additional 26,343 shares during the last quarter. Finally, Orbimed Advisors LLC increased its stake in shares of argenex by 0.6% during the second quarter. Orbimed Advisors LLC now owns 208,000 shares of the company’s stock valued at $114,654,000 after buying an additional 1,300 shares during the period. 60.32% of the stock is owned by institutional investors.

argenex Price Performance

ARGX stock opened at $847.26 on Friday. argenex SE has a 1-year low of $510.05 and a 1-year high of $934.62. The business has a 50 day simple moving average of $831.90 and a two-hundred day simple moving average of $804.81. The company has a market capitalization of $52.43 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 0.73 and a beta of 0.37.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ARGX. Royal Bank Of Canada raised their price target on argenex from $860.00 to $925.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. TD Cowen raised their target price on shares of argenex from $800.00 to $1,146.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. DZ Bank upgraded shares of argenex to a “strong-buy” rating in a research report on Friday, December 19th. Robert W. Baird lowered shares of argenex from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 18th. Finally, Wells Fargo & Company lifted their price objective on argenex from $1,264.00 to $1,317.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, argenex has a consensus rating of “Moderate Buy” and a consensus price target of $986.78.

argenex 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.