Allspring Global Investments Holdings LLC Increases Stake in argenex SE $ARGX

Allspring Global Investments Holdings LLC increased its stake in argenex SE (NASDAQ:ARGX) by 1.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,311 shares of the company’s stock after purchasing an additional 2,579 shares during the period. Allspring Global Investments Holdings LLC owned 0.28% of argenex worth $130,277,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of ARGX. M&T Bank Corp lifted its stake in shares of argenex by 20,977.7% during the fourth quarter. M&T Bank Corp now owns 778,610 shares of the company’s stock worth $654,772,000 after buying an additional 774,916 shares during the period. Wellington Management Group LLP raised its stake in argenex by 80.1% in the 3rd quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock worth $538,408,000 after acquiring an additional 324,653 shares during the last quarter. Morgan Stanley raised its stake in argenex by 19.2% in the 4th quarter. Morgan Stanley now owns 518,852 shares of the company’s stock worth $436,331,000 after acquiring an additional 83,746 shares during the last quarter. Invesco Ltd. lifted its position in argenex by 390.4% during the 4th quarter. Invesco Ltd. now owns 416,408 shares of the company’s stock worth $350,178,000 after acquiring an additional 331,489 shares during the period. Finally, Sands Capital Management LLC lifted its position in argenex by 2,046.6% during the 4th quarter. Sands Capital Management LLC now owns 356,870 shares of the company’s stock worth $300,110,000 after acquiring an additional 340,245 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ARGX. Weiss Ratings raised argenex from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, July 6th. Wells Fargo & Company upped 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. Oppenheimer cut their price target on shares of argenex from $1,060.00 to $1,014.00 and set an “outperform” rating on the stock in a report on Thursday, April 2nd. Morgan Stanley raised their price target 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. Finally, HC Wainwright restated a “buy” rating and set a $940.00 price objective on shares of argenex in a research note on Thursday, June 25th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,037.61.

argenex Price Performance

NASDAQ:ARGX opened at $857.97 on Friday. The company has a 50 day moving average price of $859.41 and a 200-day moving average price of $813.26. argenex SE has a 1-year low of $560.91 and a 1-year high of $953.58. The firm has a market cap of $53.36 billion, a price-to-earnings 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 (EPS) for the quarter. The firm had revenue of $1.31 billion for the quarter. argenex had a net margin of 31.31% and a return on equity of 44.37%. On average, sell-side analysts anticipate that argenex SE will post 26.27 earnings per share for the current fiscal year.

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.