Bank of New York Mellon Corp Increases Stake in argenx SE (NASDAQ:ARGX)

Bank of New York Mellon Corp lifted its holdings in argenx SE (NASDAQ:ARGX) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,362 shares of the company’s stock after purchasing an additional 464 shares during the quarter. Bank of New York Mellon Corp’s holdings in argenx were worth $3,913,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. IFP Advisors Inc grew its holdings in shares of argenx by 4.2% in the fourth quarter. IFP Advisors Inc now owns 641 shares of the company’s stock valued at $394,000 after purchasing an additional 26 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of argenx in the fourth quarter valued at $216,000. O Neil Global Advisors Inc. bought a new stake in argenx in the fourth quarter worth $1,611,000. Handelsbanken Fonder AB increased its position in argenx by 21.7% during the fourth quarter. Handelsbanken Fonder AB now owns 33,647 shares of the company’s stock valued at $20,693,000 after acquiring an additional 6,005 shares during the last quarter. Finally, Ieq Capital LLC bought a new position in argenx during the fourth quarter valued at $271,000. 60.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ARGX has been the topic of a number of analyst reports. William Blair reiterated an “outperform” rating on shares of argenx in a research report on Friday, February 28th. Citigroup reiterated an “outperform” rating on shares of argenx in a research report on Friday, February 28th. Piper Sandler boosted their price objective on shares of argenx from $620.00 to $725.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Wedbush reiterated an “outperform” rating and set a $655.00 price objective on shares of argenx in a research report on Tuesday, December 3rd. Finally, Robert W. Baird boosted their price objective on shares of argenx from $650.00 to $680.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $687.00.

argenx Price Performance

Shares of argenx stock opened at $611.18 on Wednesday. The business has a 50-day moving average of $636.83 and a 200 day moving average of $598.22. argenx SE has a 12 month low of $349.86 and a 12 month high of $678.21. The stock has a market capitalization of $37.14 billion, a price-to-earnings ratio of -694.52 and a beta of 0.59.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, February 27th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.60. The business had revenue of $761.22 million during the quarter, compared to analysts’ expectations of $678.52 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. Equities research analysts anticipate that argenx SE will post 3.13 earnings per share for the current year.

argenx 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.