Citigroup Inc. Raises Position in argenex SE $ARGX

Citigroup Inc. lifted its stake in shares of argenex SE (NASDAQ:ARGX) by 17.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,533 shares of the company’s stock after acquiring an additional 815 shares during the quarter. Citigroup Inc.’s holdings in argenex were worth $4,081,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of ARGX. Adage Capital Partners GP L.L.C. boosted its holdings in 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 valued at $163,775,000 after purchasing an additional 158,476 shares during the period. Franklin Resources Inc. boosted its stake in shares of argenex by 103.9% in the 2nd quarter. Franklin Resources Inc. now owns 279,803 shares of the company’s stock valued at $154,233,000 after buying an additional 142,606 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of argenex by 14.2% during the third 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 in the last quarter. 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 worth $114,654,000 after buying an additional 1,300 shares during the period. Finally, American Century Companies Inc. raised its holdings in argenex by 38.3% in the second quarter. American Century Companies Inc. now owns 205,906 shares of the company’s stock valued at $113,503,000 after acquiring an additional 57,054 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on ARGX. Truist Financial boosted their price target on shares of argenex from $950.00 to $1,030.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Wolfe Research reaffirmed a “peer perform” rating on shares of argenex in a research report on Monday, November 24th. Citigroup dropped their target price on argenex from $1,124.00 to $1,091.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Zacks Research upgraded argenex from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Finally, Wells Fargo & Company lowered their price objective on argenex from $1,317.00 to $1,247.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, argenex has a consensus rating of “Moderate Buy” and an average target price of $999.22.

argenex Price Performance

Shares of ARGX opened at $749.56 on Thursday. argenex SE has a 1-year low of $510.05 and a 1-year high of $934.62. The stock has a market cap of $46.38 billion, a PE ratio of 38.40, a price-to-earnings-growth ratio of 1.27 and a beta of 0.38. The firm has a fifty day moving average price of $820.51 and a 200 day moving average price of $814.08.

argenex (NASDAQ:ARGX) last posted its earnings results on Thursday, February 26th. The company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates of $6.05 by $1.97. argenex had a return on equity of 38.51% and a net margin of 30.42%.The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. As a group, equities analysts expect that argenex SE will post 3.13 EPS for the current fiscal year.

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.