Pictet Asset Management Holding SA Has $175.09 Million Stake in argenx SE (NASDAQ:ARGX)

Pictet Asset Management Holding SA reduced its position in shares of argenx SE (NASDAQ:ARGX) by 19.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 284,694 shares of the company’s stock after selling 66,909 shares during the period. Pictet Asset Management Holding SA’s holdings in argenx were worth $175,087,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in argenx by 28.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,459 shares of the company’s stock worth $1,875,000 after purchasing an additional 768 shares during the last quarter. Cerity Partners LLC lifted its position in argenx by 20.4% during the 3rd quarter. Cerity Partners LLC now owns 3,273 shares of the company’s stock worth $1,774,000 after buying an additional 555 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in argenx by 55.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,315 shares of the company’s stock worth $712,000 after buying an additional 470 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of argenx by 9.4% during the 3rd quarter. Bank of Montreal Can now owns 8,307 shares of the company’s stock worth $4,453,000 after buying an additional 714 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of argenx by 11.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 61,586 shares of the company’s stock valued at $33,385,000 after acquiring an additional 6,151 shares in the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

argenx Stock Performance

ARGX stock opened at $589.15 on Friday. argenx SE has a 52 week low of $352.77 and a 52 week high of $678.21. The company has a market capitalization of $35.80 billion, a PE ratio of -669.49 and a beta of 0.59. The company’s 50-day simple moving average is $628.26 and its 200 day simple moving average is $601.20.

argenx (NASDAQ:ARGX) last announced its earnings results on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $761.22 million for the quarter, compared to analyst estimates of $678.52 million. On average, analysts forecast that argenx SE will post 3.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Sanford C. Bernstein upgraded argenx from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Oppenheimer upped their price objective on argenx from $675.00 to $704.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Guggenheim raised their target price on shares of argenx from $775.00 to $1,100.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Robert W. Baird upped their price target on shares of argenx from $650.00 to $680.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft raised shares of argenx from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th. Three equities research 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $687.00.

About argenx

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.