argenex SE $ARGX Shares Sold by Jennison Associates LLC

Jennison Associates LLC reduced its position in argenex SE (NASDAQ:ARGX) by 9.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 240,228 shares of the company’s stock after selling 24,419 shares during the quarter. Jennison Associates LLC owned about 0.39% of argenex worth $177,182,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. boosted its holdings in shares of argenex by 114.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock valued at $163,775,000 after acquiring an additional 158,476 shares in the last quarter. Franklin Resources Inc. lifted its position in argenex by 103.9% in the second quarter. Franklin Resources Inc. now owns 279,803 shares of the company’s stock valued at $154,233,000 after purchasing an additional 142,606 shares during the period. Balyasny Asset Management L.P. boosted its holdings in argenex by 826.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 89,296 shares of the company’s stock valued at $49,222,000 after purchasing an additional 79,659 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in argenex in the 2nd quarter valued at approximately $37,441,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in argenex by 244.6% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 87,414 shares of the company’s stock worth $48,184,000 after purchasing an additional 62,044 shares during the period. Hedge funds and other institutional investors own 60.32% of the company’s stock.

argenex Stock Down 1.5%

NASDAQ:ARGX opened at $814.74 on Friday. The business’s 50 day moving average is $859.47 and its two-hundred day moving average is $771.27. argenex SE has a 52 week low of $510.05 and a 52 week high of $934.62. The company has a market cap of $50.42 billion, a PE ratio of 34.98, a P/E/G ratio of 0.53 and a beta of 0.38.

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of argenex from $925.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Monday, December 8th. Robert W. Baird downgraded argenex from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of argenex in a research report on Wednesday. Wall Street Zen downgraded argenex from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Wolfe Research reissued a “peer perform” rating on shares of argenex in a research note on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $986.78.

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.