Allianz Asset Management GmbH Sells 1,054 Shares of argenex SE (NASDAQ:ARGX)

Allianz Asset Management GmbH decreased its position in argenex SE (NASDAQ:ARGX) by 29.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,546 shares of the company’s stock after selling 1,054 shares during the period. Allianz Asset Management GmbH’s holdings in argenex were worth $1,507,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GeoWealth Management LLC increased its holdings in argenex by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock valued at $31,000 after purchasing an additional 18 shares in the last quarter. Greenleaf Trust lifted its holdings in argenex by 3.5% during the 1st quarter. Greenleaf Trust now owns 624 shares of the company’s stock worth $369,000 after buying an additional 21 shares in the last quarter. Rakuten Securities Inc. lifted its holdings in argenex by 56.4% during the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company’s stock worth $36,000 after buying an additional 22 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of argenex by 1.3% during the first quarter. Sequoia Financial Advisors LLC now owns 1,829 shares of the company’s stock worth $1,083,000 after acquiring an additional 24 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in shares of argenex by 0.6% during the first quarter. M&T Bank Corp now owns 4,296 shares of the company’s stock valued at $2,542,000 after acquiring an additional 27 shares during the period. 60.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ARGX has been the topic of a number of research reports. Baird R W upgraded shares of argenex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Morgan Stanley began coverage on shares of argenex in a research note on Thursday, July 3rd. They issued an “overweight” rating and a $700.00 price objective on the stock. Oppenheimer upped their target price on shares of argenex from $704.00 to $708.00 and gave the company an “outperform” rating in a research report on Friday, May 9th. JMP Securities set a $699.00 price target on argenex in a research note on Wednesday, May 14th. Finally, Deutsche Bank Aktiengesellschaft raised argenex from a “hold” rating to a “buy” rating in a research note on Tuesday, July 8th. Nineteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $728.06.

argenex Trading Up 0.0%

argenex stock opened at $598.89 on Thursday. argenex SE has a 1-year low of $475.65 and a 1-year high of $678.21. The company has a fifty day simple moving average of $567.33 and a 200 day simple moving average of $597.14. The company has a market cap of $36.65 billion, a P/E ratio of 36.95, a price-to-earnings-growth ratio of 1.07 and a beta of 0.37.

argenex (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, May 8th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.26. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $748.34 million. argenex had a return on equity of 16.15% and a net margin of 40.20%. On average, equities research analysts forecast that argenex SE will post 3.13 EPS for the current year.

argenex 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.