Pictet Asset Management Holding SA Sells 16,122 Shares of argenex SE $ARGX

Key Points

• Pictet Asset Management sold 16,122 shares of argenex, cutting its stake by 9.5% to 153,211 shares (about 0.25% of the company) valued at $128,837,000 at quarter-end.
• Wall Street sentiment is broadly positive — the stock has an overall rating of "Moderate Buy" with an average price target of $1,016.22 (2 Strong Buy, 18 Buy, 4 Hold from analysts).
• argenex has a market cap of $48.74 billion, reported $8.02 EPS for the quarter with a 30.42% net margin, and its lead product is efgartigimod (marketed as Vyvgart) targeting IgG‑mediated disorders.

Pictet Asset Management Holding SA cut its stake in shares of argenex SE (NASDAQ:ARGX - Free Report) by 9.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 153,211 shares of the company's stock after selling 16,122 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.25% of argenex worth $128,837,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Abound Wealth Management boosted its stake in argenex by 3,200.0% during the fourth quarter. Abound Wealth Management now owns 33 shares of the company's stock worth $28,000 after acquiring an additional 32 shares in the last quarter. Sound Income Strategies LLC bought a new position in argenex during the fourth quarter worth $28,000. Ameriflex Group Inc. bought a new position in argenex during the third quarter worth $32,000. Sunbelt Securities Inc. bought a new position in argenex during the third quarter worth $36,000. Finally, Aventura Private Wealth LLC bought a new position in argenex during the fourth quarter worth $38,000. 60.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ARGX has been the topic of several research analyst reports. Royal Bank Of Canada cut their target price on shares of argenex from $925.00 to $890.00 and set an "outperform" rating on the stock in a research note on Friday, February 27th. Citizens Jmp upped their price objective on shares of argenex from $925.00 to $944.00 and gave the stock a "market outperform" rating in a report on Friday, February 27th. Wells Fargo & Company lowered their price objective on shares of argenex from $1,317.00 to $1,247.00 and set an "overweight" rating on the stock in a report on Friday, February 27th. Oppenheimer lowered their price objective on shares of argenex from $1,060.00 to $1,014.00 and set an "outperform" rating on the stock in a report on Thursday, April 2nd. Finally, Wall Street Zen downgraded shares of argenex from a "buy" rating to a "hold" rating in a report on Sunday, March 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,016.22.

argenex Trading Up 0.4%

ARGX opened at $783.74 on Tuesday. The company's fifty day moving average price is $762.38 and its two-hundred day moving average price is $818.83. argenex SE has a 1-year low of $510.05 and a 1-year high of $934.62. The company has a market cap of $48.74 billion, a price-to-earnings ratio of 40.15, a PEG ratio of 1.28 and a beta of 0.46.

argenex (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings data 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 analysts forecast that argenex SE will post 24.61 earnings per share for the current fiscal year.

About argenex

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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