Pictet Asset Management Holding SA Reduces Stake in argenx SE (NASDAQ:ARGX)

Pictet Asset Management Holding SA decreased its position in shares of argenx SE (NASDAQ:ARGX - Free Report) by 19.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 284,694 shares of the company's stock after selling 66,909 shares during the period. Pictet Asset Management Holding SA owned approximately 0.47% of argenx worth $175,087,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ARGX. Whipplewood Advisors LLC purchased a new stake in argenx in the fourth quarter worth $37,000. Global Retirement Partners LLC increased its stake in argenx by 369.2% in the 4th quarter. Global Retirement Partners LLC now owns 61 shares of the company's stock worth $38,000 after buying an additional 48 shares during the period. Jones Financial Companies Lllp lifted its holdings in argenx by 1,016.7% during the 4th quarter. Jones Financial Companies Lllp now owns 67 shares of the company's stock valued at $41,000 after buying an additional 61 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in argenx by 78.6% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 75 shares of the company's stock valued at $46,000 after buying an additional 33 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in argenx by 38.2% in the 4th quarter. Farther Finance Advisors LLC now owns 76 shares of the company's stock valued at $47,000 after buying an additional 21 shares during the period. 60.32% of the stock is owned by hedge funds and other institutional investors.

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argenx Stock Up 2.6 %

Shares of ARGX traded up $14.49 during mid-day trading on Wednesday, hitting $581.58. 311,615 shares of the company traded hands, compared to its average volume of 291,835. The company has a market capitalization of $35.34 billion, a PE ratio of -660.88 and a beta of 0.59. The business has a 50 day moving average of $625.68 and a 200 day moving average of $602.71. argenx SE has a 1-year low of $352.77 and a 1-year high of $678.21.

argenx (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.60. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The business had revenue of $761.22 million for the quarter, compared to analyst estimates of $678.52 million. As a group, research analysts expect that argenx SE will post 3.13 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on ARGX shares. Guggenheim raised their target price on shares of argenx from $775.00 to $1,100.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Piper Sandler lifted their target price on argenx from $620.00 to $725.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. Wells Fargo & Company upped their target price on argenx from $723.00 to $741.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Citigroup restated an "outperform" rating on shares of argenx in a research note on Friday, February 28th. Finally, HC Wainwright upped their price objective on shares of argenx from $717.00 to $720.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $687.00.

argenx Company Profile

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren's syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.