Perpetual Ltd Has $36.42 Million Position in argenex SE $ARGX

Perpetual Ltd cut its stake in argenex SE (NASDAQ:ARGX) by 49.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,379 shares of the company’s stock after selling 47,576 shares during the quarter. Perpetual Ltd’s holdings in argenex were worth $36,420,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Voya Investment Management LLC grew its holdings in argenex by 36.3% during the third quarter. Voya Investment Management LLC now owns 21,610 shares of the company’s stock valued at $15,939,000 after purchasing an additional 5,755 shares during the period. Sanders Morris Harris LLC bought a new position in shares of argenex during the third quarter worth $1,350,000. GAMMA Investing LLC grew its holdings in shares of argenex by 6.8% in the 3rd quarter. GAMMA Investing LLC now owns 251 shares of the company’s stock valued at $185,000 after buying an additional 16 shares during the period. Corient Private Wealth LLC increased its position in shares of argenex by 5.5% in the 2nd quarter. Corient Private Wealth LLC now owns 1,511 shares of the company’s stock valued at $833,000 after buying an additional 79 shares in the last quarter. Finally, Valeo Financial Advisors LLC increased its position in shares of argenex by 203.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,303 shares of the company’s stock valued at $718,000 after buying an additional 874 shares in the last quarter. Institutional investors own 60.32% of the company’s stock.

argenex Stock Up 0.9%

Shares of ARGX stock opened at $854.99 on Friday. argenex SE has a 12-month low of $510.05 and a 12-month high of $934.62. The company has a market capitalization of $52.64 billion, a PE ratio of 36.71, a price-to-earnings-growth ratio of 0.85 and a beta of 0.37. The firm has a 50 day moving average price of $868.88 and a two-hundred day moving average price of $725.77.

argenex (NASDAQ:ARGX) last announced its earnings results on Thursday, October 30th. The company reported $4.40 earnings per share for the quarter, topping analysts’ consensus estimates of $4.37 by $0.03. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. argenex had a return on equity of 29.78% and a net margin of 41.58%. As a group, research analysts expect that argenex SE will post 3.13 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on ARGX. Piper Sandler lifted their target price on argenex from $820.00 to $930.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Citigroup raised their price target on argenex from $1,041.00 to $1,124.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Truist Financial boosted their price objective on argenex from $700.00 to $918.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Jefferies Financial Group set a $818.00 target price on argenex and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Finally, Wells Fargo & Company raised their target price on shares of argenex from $1,095.00 to $1,316.00 and gave the stock an “overweight” rating in a report on Thursday, December 11th. Nineteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $982.33.

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.