QVT Financial LP Reduces Stock Position in argenex SE $ARGX

QVT Financial LP lessened its position in shares of argenex SE (NASDAQ:ARGX) by 39.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,218 shares of the company’s stock after selling 3,462 shares during the quarter. argenex accounts for 0.4% of QVT Financial LP’s portfolio, making the stock its 24th largest position. QVT Financial LP’s holdings in argenex were worth $4,388,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. grew its stake in argenex by 2.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 442 shares of the company’s stock valued at $372,000 after purchasing an additional 12 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in 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 purchasing an additional 12 shares during the last quarter. CI Investments Inc. grew its stake in 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 purchasing an additional 12 shares during the last quarter. Sound View Wealth Advisors Group LLC grew its stake in argenex by 3.4% during the 3rd quarter. Sound View Wealth Advisors Group LLC now owns 396 shares of the company’s stock valued at $292,000 after purchasing an additional 13 shares during the last quarter. Finally, Allworth Financial LP grew its stake in 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 purchasing an additional 13 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Royal Bank Of Canada dropped their price target on argenex from $925.00 to $890.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Wedbush reiterated an “outperform” rating and set a $1,000.00 price target on shares of argenex in a research note on Thursday. HC Wainwright boosted their price target on argenex from $915.00 to $940.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Citizens Jmp boosted their price objective on argenex from $925.00 to $944.00 and gave the company a “market outperform” rating in a report on Friday, February 27th. Finally, Wall Street Zen cut argenex from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,019.50.

argenex Price Performance

Shares of ARGX stock opened at $893.52 on Monday. The stock has a market cap of $55.57 billion, a PE ratio of 39.78, a price-to-earnings-growth ratio of 1.37 and a beta of 0.47. The business has a 50-day simple moving average of $812.09 and a 200-day simple moving average of $811.50. argenex SE has a 52-week low of $510.05 and a 52-week high of $934.62.

argenex (NASDAQ:ARGX) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $5.52 earnings per share (EPS) for the quarter. The business had revenue of $1.31 billion during the quarter. argenex had a return on equity of 44.37% and a net margin of 31.31%. Sell-side analysts anticipate that argenex SE will post 26.19 earnings per share 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.