Assenagon Asset Management S.A. Sells 9,561 Shares of argenex SE $ARGX

Assenagon Asset Management S.A. lowered its holdings in shares of argenex SE (NASDAQ:ARGX) by 39.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 14,786 shares of the company’s stock after selling 9,561 shares during the period. Assenagon Asset Management S.A.’s holdings in argenex were worth $10,797,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Abound Wealth Management lifted its holdings in argenex by 3,200.0% in 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 shares of argenex during the 4th quarter valued at about $28,000. Ameriflex Group Inc. acquired a new stake in argenex during the third quarter worth approximately $32,000. Aventura Private Wealth LLC bought a new stake in argenex in the fourth quarter worth approximately $38,000. Finally, Sunbelt Securities Inc. bought a new stake in argenex in the third quarter worth approximately $36,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ARGX. Wells Fargo & Company lifted their price objective on shares of argenex from $1,260.00 to $1,291.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Oppenheimer cut their target price on shares of argenex from $1,060.00 to $1,014.00 and set an “outperform” rating on the stock in a research note on Thursday, April 2nd. Weiss Ratings restated a “hold (c)” rating on shares of argenex in a report on Monday, April 20th. Deutsche Bank Aktiengesellschaft raised shares of argenex from a “hold” rating to a “buy” rating in a research note on Tuesday, March 10th. Finally, Wedbush reiterated an “outperform” rating and set a $1,000.00 price objective on shares of argenex in a report on Thursday, June 11th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,023.39.

argenex Trading Down 0.2%

argenex stock opened at $887.18 on Friday. The business’s 50 day simple moving average is $830.60 and its 200 day simple moving average is $809.89. argenex SE has a 12 month low of $510.05 and a 12 month high of $934.62. The company has a market cap of $55.17 billion, a price-to-earnings ratio of 39.50, a PEG ratio of 1.36 and a beta of 0.47.

argenex (NASDAQ:ARGX) last posted its quarterly earnings results 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 44.37%. The company had revenue of $1.31 billion for the quarter. As a group, equities research analysts forecast that argenex SE will post 26.19 earnings per share for the current fiscal 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.