Cinctive Capital Management LP Cuts Position in argenex SE $ARGX

Cinctive Capital Management LP trimmed its stake in argenex SE (NASDAQ:ARGX) by 46.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,606 shares of the company’s stock after selling 5,694 shares during the period. Cinctive Capital Management LP’s holdings in argenex were worth $5,555,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Balyasny Asset Management L.P. bought a new stake in shares of argenex in the 4th quarter valued at approximately $35,255,000. Ardsley Advisory Partners LP lifted its stake in shares of argenex by 60.0% in the 4th quarter. Ardsley Advisory Partners LP now owns 24,000 shares of the company’s stock valued at $20,183,000 after purchasing an additional 9,000 shares during the last quarter. Guggenheim Capital LLC lifted its stake in shares of argenex by 3.2% in the 4th quarter. Guggenheim Capital LLC now owns 2,796 shares of the company’s stock valued at $2,351,000 after purchasing an additional 88 shares during the last quarter. DV Equities LLC bought a new stake in shares of argenex in the 4th quarter valued at approximately $1,748,000. Finally, AQR Capital Management LLC lifted its stake in shares of argenex by 24.3% in the 4th quarter. AQR Capital Management LLC now owns 2,401 shares of the company’s stock valued at $2,019,000 after purchasing an additional 469 shares during the last quarter. 60.32% of the stock is owned by institutional investors.

argenex Stock Up 1.6%

Shares of NASDAQ ARGX opened at $892.26 on Thursday. The business has a fifty day simple moving average of $820.36 and a two-hundred day simple moving average of $810.81. The firm has a market cap of $55.49 billion, a PE ratio of 39.73, a price-to-earnings-growth ratio of 1.34 and a beta of 0.47. argenex SE has a twelve month low of $510.05 and a twelve month high of $934.62.

argenex (NASDAQ:ARGX) last issued its earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share 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%. On average, research analysts expect that argenex SE will post 26.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ARGX. Robert W. Baird raised their price objective on argenex from $858.00 to $867.00 and gave the company a “neutral” rating in a research note on Friday, February 27th. Zacks Research raised argenex from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Royal Bank Of Canada lowered their price objective on argenex from $925.00 to $890.00 and set an “outperform” rating for the company in a research note on Friday, February 27th. Guggenheim raised their price objective on argenex from $1,120.00 to $1,135.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Wells Fargo & Company raised their price objective on argenex from $1,260.00 to $1,291.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Two investment 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 company’s stock. According to data from MarketBeat.com, argenex currently has a consensus rating of “Moderate Buy” and an average price target of $1,019.50.

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.