Bank of New York Mellon Corp Boosts Holdings in argenex SE (NASDAQ:ARGX)

Bank of New York Mellon Corp raised its stake in argenex SE (NASDAQ:ARGX - Free Report) by 124.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,283 shares of the company's stock after purchasing an additional 7,921 shares during the quarter. Bank of New York Mellon Corp's holdings in argenex were worth $8,454,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of ARGX. GeoWealth Management LLC raised its position in argenex by 56.3% in the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company's stock valued at $31,000 after buying an additional 18 shares during the last quarter. FIL Ltd bought a new stake in shares of argenex in the 4th quarter worth $38,000. Rakuten Securities Inc. raised its holdings in shares of argenex by 56.4% in the first quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock valued at $36,000 after purchasing an additional 22 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of argenex in the fourth quarter valued at about $38,000. Finally, Huntington National Bank lifted its position in shares of argenex by 1,133.3% during the fourth quarter. Huntington National Bank now owns 74 shares of the company's stock valued at $46,000 after purchasing an additional 68 shares in the last quarter. Institutional investors own 60.32% of the company's stock.

Wall Street Analyst Weigh In

ARGX has been the subject of a number of recent analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $715.00 price objective on shares of argenex in a research report on Monday, July 21st. HC Wainwright reaffirmed a "buy" rating and issued a $720.00 target price on shares of argenex in a report on Tuesday, July 1st. Oppenheimer increased their price target on argenex from $704.00 to $708.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Robert W. Baird raised argenex from a "neutral" rating to an "outperform" rating and set a $680.00 price objective on the stock in a research report on Tuesday, May 13th. Finally, Citigroup restated a "buy" rating on shares of argenex in a research note on Wednesday, May 21st. Nineteen analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $728.06.

argenex Price Performance

NASDAQ:ARGX traded up $0.25 on Friday, reaching $591.99. 493,117 shares of the company's stock were exchanged, compared to its average volume of 430,326. The firm has a market cap of $36.23 billion, a price-to-earnings ratio of 36.52, a P/E/G ratio of 1.03 and a beta of 0.37. The stock has a fifty day simple moving average of $566.58 and a 200-day simple moving average of $598.27. argenex SE has a 52 week low of $473.67 and a 52 week high of $678.21.

argenex (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.32 by $0.26. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $748.34 million. argenex had a net margin of 40.20% and a return on equity of 16.15%. As a group, sell-side analysts predict that argenex SE will post 3.13 EPS for the current year.

About argenex

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.