Allianz Asset Management GmbH Purchases 645 Shares of argenex SE $ARGX

Allianz Asset Management GmbH boosted its position in shares of argenex SE (NASDAQ:ARGX) by 21.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,671 shares of the company’s stock after acquiring an additional 645 shares during the period. Allianz Asset Management GmbH’s holdings in argenex were worth $2,708,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ARGX. GAMMA Investing LLC lifted its position in shares of argenex by 6.8% during the 3rd quarter. GAMMA Investing LLC now owns 251 shares of the company’s stock worth $185,000 after purchasing an additional 16 shares during the last quarter. Cromwell Holdings LLC increased its position in argenex by 10.0% during the third quarter. Cromwell Holdings LLC now owns 187 shares of the company’s stock worth $138,000 after acquiring an additional 17 shares during the period. Main Management ETF Advisors LLC boosted its holdings in argenex by 1.7% in the 2nd quarter. Main Management ETF Advisors LLC now owns 1,466 shares of the company’s stock valued at $808,000 after purchasing an additional 24 shares during the period. Wilmington Savings Fund Society FSB grew its position in argenex by 1.1% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,126 shares of the company’s stock worth $1,568,000 after purchasing an additional 24 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of argenex by 4.2% during the second quarter. IFP Advisors Inc now owns 666 shares of the company’s stock valued at $367,000 after buying an additional 27 shares during the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

argenex Stock Up 0.2%

Shares of argenex stock opened at $834.55 on Thursday. 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 $51.64 billion, a price-to-earnings ratio of 35.83, a PEG ratio of 0.72 and a beta of 0.37. The firm’s 50-day moving average price is $839.36 and its two-hundred day moving average price is $797.31.

Wall Street Analysts Forecast Growth

Several research firms have commented on ARGX. Zacks Research cut argenex from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of argenex in a research note on Wednesday, January 21st. Wedbush restated an “outperform” rating and issued a $1,000.00 price objective on shares of argenex in a research note on Wednesday, January 14th. Wells Fargo & Company lifted their target price on shares of argenex from $1,264.00 to $1,317.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Finally, Evercore upped their target price on shares of argenex from $775.00 to $910.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, four have given 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 price target of $986.78.

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.