Aberdeen Group plc Trims Stock Holdings in argenex SE $ARGX

Aberdeen Group plc lowered its stake in shares of argenex SE (NASDAQ:ARGX) by 5.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,676 shares of the company’s stock after selling 3,617 shares during the period. Aberdeen Group plc owned 0.11% of argenex worth $49,178,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARGX. Adage Capital Partners GP L.L.C. boosted its stake in shares of argenex by 114.3% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock worth $163,775,000 after purchasing an additional 158,476 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of argenex by 103.9% during the second quarter. Franklin Resources Inc. now owns 279,803 shares of the company’s stock valued at $154,233,000 after buying an additional 142,606 shares during the period. Jennison Associates LLC lifted its stake in shares of argenex by 6.1% during the second quarter. Jennison Associates LLC now owns 264,647 shares of the company’s stock valued at $145,879,000 after buying an additional 15,186 shares during the period. Allspring Global Investments Holdings LLC boosted its position in argenex by 14.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 211,330 shares of the company’s stock worth $162,160,000 after acquiring an additional 26,343 shares during the last quarter. Finally, Orbimed Advisors LLC grew its stake in argenex by 0.6% in the 2nd quarter. Orbimed Advisors LLC now owns 208,000 shares of the company’s stock worth $114,654,000 after acquiring an additional 1,300 shares during the period. Hedge funds and other institutional investors own 60.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ARGX. Wall Street Zen lowered argenex from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. JPMorgan Chase & Co. increased their target price on argenex from $925.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. TD Cowen raised their price target on argenex from $800.00 to $1,146.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Piper Sandler upped their price objective on shares of argenex from $820.00 to $930.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Finally, Evercore increased their price objective on shares of argenex from $775.00 to $910.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $986.78.

argenex Stock Performance

ARGX opened at $821.96 on Monday. argenex SE has a 1 year low of $510.05 and a 1 year high of $934.62. The firm has a 50 day moving average price of $836.13 and a 200 day moving average price of $801.96. The company has a market cap of $50.86 billion, a PE ratio of 35.29, a price-to-earnings-growth ratio of 0.71 and a beta of 0.37.

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.