Jennison Associates LLC Reduces Stock Position in argenex SE $ARGX

Key Points

• Jennison Associates cut its stake in argenex by 4.4% in Q4, selling 10,467 shares and ending the period with 229,761 shares valued at $193,218,000 (about 0.37% ownership).
• Institutional ownership is substantial at 60.32%, while several smaller firms (e.g., Abound Wealth, Sound Income Strategies, Ameriflex, Aventura, Sunbelt) opened or increased very small positions recently.
• Analysts maintain a consensus rating of "Moderate Buy" with an average price target of $1,016.22 (2 Strong Buy, 18 Buy, 4 Hold).

Jennison Associates LLC cut its stake in argenex SE (NASDAQ:ARGX - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 229,761 shares of the company's stock after selling 10,467 shares during the period. Jennison Associates LLC owned approximately 0.37% of argenex worth $193,218,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Abound Wealth Management increased its holdings in argenex by 3,200.0% in the fourth quarter. Abound Wealth Management now owns 33 shares of the company's stock valued at $28,000 after buying an additional 32 shares in the last quarter. Sound Income Strategies LLC purchased a new position in shares of argenex during the 4th quarter worth approximately $28,000. Ameriflex Group Inc. purchased a new position in shares of argenex during the 3rd quarter worth approximately $32,000. Aventura Private Wealth LLC purchased a new position in shares of argenex during the 4th quarter worth approximately $38,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of argenex during the 3rd quarter worth approximately $36,000. 60.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ARGX. Zacks Research raised shares of argenex from a "strong sell" rating to a "hold" rating in a research note on Friday, February 20th. Royal Bank Of Canada decreased their target price on shares of argenex from $925.00 to $890.00 and set an "outperform" rating on the stock in a research report on Friday, February 27th. Glj Research upgraded shares of argenex to a "strong-buy" rating in a research report on Friday, April 3rd. Robert W. Baird raised their target price on shares of argenex from $858.00 to $867.00 and gave the stock a "neutral" rating in a research report on Friday, February 27th. Finally, Citigroup decreased their target price on shares of argenex from $1,124.00 to $1,091.00 and set a "buy" rating on the stock in a research report on Thursday, January 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,016.22.

argenex Stock Up 0.8%

Shares of ARGX opened at $781.85 on Thursday. The firm has a market cap of $48.62 billion, a PE ratio of 40.13, a price-to-earnings-growth ratio of 1.29 and a beta of 0.46. The company's fifty day moving average is $759.62 and its two-hundred day moving average is $818.38. argenex SE has a fifty-two week low of $510.05 and a fifty-two week high of $934.62.

argenex (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings results on Saturday, February 14th. The company reported $8.02 earnings per share for the quarter. argenex had a net margin of 30.42% and a return on equity of 38.51%. As a group, equities research analysts anticipate that argenex SE will post 24.63 earnings per share for the current 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.

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