argenex SE $ARGX Stock Holdings Lowered by Wellington Management Group LLP

Wellington Management Group LLP lessened its position in argenex SE (NASDAQ:ARGX) by 8.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 930,548 shares of the company’s stock after selling 90,909 shares during the period. Wellington Management Group LLP’s holdings in argenex were worth $863,335,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in shares of argenex by 65.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the company’s stock valued at $2,713,000 after buying an additional 1,280 shares during the last quarter. M&T Bank Corp grew its holdings in argenex by 34.8% in the 4th quarter. M&T Bank Corp now owns 4,980 shares of the company’s stock worth $4,188,000 after buying an additional 1,286 shares in the last quarter. Peregrine Capital Management LLC bought a new position in argenex in the 2nd quarter worth approximately $27,584,000. UBS Group AG increased its position in argenex by 12.3% in the 4th quarter. UBS Group AG now owns 60,384 shares of the company’s stock valued at $50,780,000 after acquiring an additional 6,591 shares during the period. Finally, Optiver Holding B.V. increased its position in argenex by 907.0% in the 1st quarter. Optiver Holding B.V. now owns 10,110 shares of the company’s stock valued at $7,383,000 after acquiring an additional 9,106 shares during the period. 60.32% of the stock is currently owned by institutional investors.

argenex Trading Down 3.4%

ARGX stock opened at $1,023.21 on Friday. The firm has a 50-day moving average of $910.13 and a two-hundred day moving average of $834.13. argenex SE has a one year low of $661.85 and a one year high of $1,061.57. The firm has a market capitalization of $64.01 billion, a PE ratio of 39.29, a P/E/G ratio of 1.06 and a beta of 0.46.

argenex (NASDAQ:ARGX) last announced its earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.86 by $1.46. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.45 billion. argenex had a net margin of 32.19% and a return on equity of 43.59%. On average, equities research analysts anticipate that argenex SE will post 29.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ARGX shares. Morgan Stanley boosted their price target on argenex from $1,200.00 to $1,230.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 18th. Royal Bank Of Canada lifted their price objective on shares of argenex from $1,025.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. Robert W. Baird upped their price objective on shares of argenex from $867.00 to $932.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Guggenheim initiated coverage on shares of argenex in a research report on Tuesday, August 4th. They issued a “buy” rating and a $1,185.00 target price for the company. Finally, Truist Financial raised their target price on shares of argenex from $1,030.00 to $1,095.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,157.50.

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.