Allspring Global Investments Holdings LLC Raises Stock Position in argenex SE $ARGX

Allspring Global Investments Holdings LLC boosted its stake in shares of argenex SE (NASDAQ:ARGX) by 1.5% in the first quarter, HoldingsChannel.com reports. The fund owned 175,311 shares of the company’s stock after purchasing an additional 2,579 shares during the period. Allspring Global Investments Holdings LLC’s holdings in argenex were worth $130,277,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Abound Wealth Management grew its position in shares of argenex by 3,200.0% in the fourth quarter. Abound Wealth Management now owns 33 shares of the company’s stock valued at $28,000 after purchasing an additional 32 shares during the period. Sound Income Strategies LLC acquired a new position in shares of argenex during the 4th quarter worth about $28,000. Whipplewood Advisors LLC purchased a new position in argenex in the 1st quarter valued at about $28,000. Aventura Private Wealth LLC acquired a new stake in argenex in the 4th quarter worth about $38,000. Finally, Sunbelt Securities Inc. acquired a new stake in argenex in the 3rd quarter worth about $36,000. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenex Stock Down 0.6%

Shares of ARGX opened at $857.97 on Friday. argenex SE has a 52-week low of $560.91 and a 52-week high of $953.58. The stock has a fifty day simple moving average of $859.41 and a two-hundred day simple moving average of $813.26. The company has a market capitalization of $53.36 billion, a PE ratio of 38.20, a price-to-earnings-growth ratio of 1.07 and a beta of 0.45.

argenex (NASDAQ:ARGX) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $5.52 earnings per share for the quarter. argenex had a net margin of 31.31% and a return on equity of 44.37%. The firm had revenue of $1.31 billion for the quarter. As a group, equities analysts anticipate that argenex SE will post 26.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ARGX. Glj Research raised argenex to a “strong-buy” rating in a report on Friday, April 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $940.00 price target on shares of argenex in a research note on Thursday, June 25th. Wells Fargo & Company boosted their price target on argenex from $1,260.00 to $1,291.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Bank of America increased their price objective on argenex from $1,016.00 to $1,088.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, Guggenheim raised their price objective on argenex from $1,120.00 to $1,135.00 and gave the company a “buy” rating in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.