China Universal Asset Management Co. Ltd. Sells 969 Shares of argenex SE $ARGX

China Universal Asset Management Co. Ltd. lessened its position in shares of argenex SE (NASDAQ:ARGX) by 15.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,366 shares of the company’s stock after selling 969 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in argenex were worth $3,958,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. raised its holdings in shares of argenex by 114.3% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock worth $163,775,000 after acquiring an additional 158,476 shares in the last quarter. Franklin Resources Inc. raised its stake in argenex by 103.9% during the second quarter. Franklin Resources Inc. now owns 279,803 shares of the company’s stock valued at $154,233,000 after purchasing an additional 142,606 shares in the last quarter. Jennison Associates LLC lifted its position in argenex by 6.1% during the second quarter. Jennison Associates LLC now owns 264,647 shares of the company’s stock valued at $145,879,000 after purchasing an additional 15,186 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of argenex by 14.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 211,330 shares of the company’s stock worth $162,160,000 after buying an additional 26,343 shares in the last quarter. Finally, Orbimed Advisors LLC increased its holdings in shares of argenex by 0.6% in the 2nd quarter. Orbimed Advisors LLC now owns 208,000 shares of the company’s stock worth $114,654,000 after buying an additional 1,300 shares during the last quarter. Institutional investors own 60.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. TD Cowen increased their price target on shares of argenex from $800.00 to $1,146.00 and gave the company a “buy” rating in a report on Friday, October 31st. Citigroup lowered their price objective on argenex from $1,124.00 to $1,091.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Morgan Stanley boosted their target price on argenex from $1,070.00 to $1,110.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Robert W. Baird downgraded argenex from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 18th. Finally, Stifel Nicolaus lifted their price objective on shares of argenex from $1,028.00 to $1,248.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, argenex has a consensus rating of “Moderate Buy” and a consensus price target of $986.78.

argenex Stock Up 0.2%

ARGX stock opened at $847.26 on Friday. argenex SE has a twelve month low of $510.05 and a twelve month high of $934.62. The firm has a market cap of $52.43 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 0.73 and a beta of 0.37. The business’s fifty day simple moving average is $831.90 and its two-hundred day simple moving average is $804.81.

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.