Pictet Asset Management Holding SA Cuts Stake in argenex SE $ARGX

Pictet Asset Management Holding SA cut its stake in argenex SE (NASDAQ:ARGX) by 3.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 148,306 shares of the company’s stock after selling 4,905 shares during the period. Pictet Asset Management Holding SA’s holdings in argenex were worth $108,022,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ARGX. Oppenheimer & Co. Inc. raised its stake in argenex by 2.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 442 shares of the company’s stock worth $372,000 after purchasing an additional 12 shares during the period. Valeo Financial Advisors LLC grew its stake in shares of argenex by 0.9% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,372 shares of the company’s stock valued at $1,153,000 after buying an additional 12 shares during the period. CI Investments Inc. grew its stake in shares of argenex by 2.6% during the 4th quarter. CI Investments Inc. now owns 469 shares of the company’s stock valued at $394,000 after buying an additional 12 shares during the period. Allworth Financial LP grew its stake in shares of argenex by 12.7% during the 4th quarter. Allworth Financial LP now owns 115 shares of the company’s stock valued at $97,000 after buying an additional 13 shares during the period. Finally, Raiffeisen Bank International AG increased its holdings in shares of argenex by 12.6% during the 4th quarter. Raiffeisen Bank International AG now owns 134 shares of the company’s stock worth $112,000 after buying an additional 15 shares during the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenex Stock Performance

Shares of ARGX stock opened at $887.18 on Monday. The company has a market cap of $55.17 billion, a PE ratio of 39.50, a P/E/G ratio of 1.36 and a beta of 0.47. The company’s fifty day simple moving average is $830.60 and its 200-day simple moving average is $809.26. argenex SE has a 52 week low of $510.05 and a 52 week high of $934.62.

argenex (NASDAQ:ARGX) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share for the quarter. argenex had a net margin of 31.31% and a return on equity of 44.37%. The firm had revenue of $1.31 billion during the quarter. Equities research analysts expect that argenex SE will post 26.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ARGX shares. Wells Fargo & Company increased their target price on argenex from $1,260.00 to $1,291.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Glj Research upgraded argenex to a “strong-buy” rating in a research note on Friday, April 3rd. Oppenheimer dropped their price target on argenex from $1,060.00 to $1,014.00 and set an “outperform” rating for the company in a research note on Thursday, April 2nd. Guggenheim raised their price objective on argenex from $1,120.00 to $1,135.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Morgan Stanley lifted their price objective on argenex from $1,170.00 to $1,180.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. 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 stock. According to MarketBeat.com, argenex currently has an average rating of “Moderate Buy” and a consensus price target of $1,023.39.

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.