ABC Arbitrage SA Takes $1.14 Million Position in argenex SE $ARGX

ABC Arbitrage SA bought a new position in argenex SE (NASDAQ:ARGX) during the first quarter, Holdings Channel reports. The firm bought 1,554 shares of the company’s stock, valued at approximately $1,135,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ARGX. M&T Bank Corp raised its position in argenex by 20,977.7% during the fourth quarter. M&T Bank Corp now owns 778,610 shares of the company’s stock valued at $654,772,000 after acquiring an additional 774,916 shares in the last quarter. Sands Capital Management LLC increased its holdings in shares of argenex by 2,046.6% during the 4th quarter. Sands Capital Management LLC now owns 356,870 shares of the company’s stock valued at $300,110,000 after purchasing an additional 340,245 shares in the last quarter. Invesco Ltd. lifted its stake in shares of argenex by 390.4% in the 4th quarter. Invesco Ltd. now owns 416,408 shares of the company’s stock valued at $350,178,000 after purchasing an additional 331,489 shares during the period. Wellington Management Group LLP lifted its stake in shares of argenex by 80.1% in the 3rd quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock valued at $538,408,000 after purchasing an additional 324,653 shares during the period. Finally, Two Sigma Investments LP boosted its holdings in argenex by 570.3% during the third quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock worth $216,961,000 after buying an additional 250,278 shares in the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

argenex Stock Performance

argenex stock opened at $876.25 on Tuesday. The company’s fifty day moving average price is $855.59 and its 200 day moving average price is $813.01. argenex SE has a 1 year low of $554.59 and a 1 year high of $953.58. The stock has a market capitalization of $54.49 billion, a P/E ratio of 39.01, a P/E/G ratio of 1.08 and a beta of 0.45.

argenex (NASDAQ:ARGX) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $5.52 earnings per share for the quarter. The company had revenue of $1.31 billion during the quarter. argenex had a net margin of 31.31% and a return on equity of 44.37%. Sell-side analysts predict that argenex SE will post 26.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ARGX. Weiss Ratings upgraded shares of argenex from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, July 6th. Morgan Stanley upped their price objective on shares of argenex from $1,170.00 to $1,180.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Oppenheimer lowered their target price on shares of argenex from $1,060.00 to $1,014.00 and set an “outperform” rating on the stock in a research note on Thursday, April 2nd. Wells Fargo & Company raised their target price on argenex from $1,260.00 to $1,291.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Finally, Wedbush restated an “outperform” rating and set a $1,000.00 target price on shares of argenex in a research report on Thursday, June 11th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,037.61.

argenex Profile

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.