Kornitzer Capital Management Inc. KS Acquires New Holdings in argenex SE (NASDAQ:ARGX)

Kornitzer Capital Management Inc. KS bought a new stake in argenex SE (NASDAQ:ARGX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 900 shares of the company's stock, valued at approximately $533,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GeoWealth Management LLC increased its position in argenex by 56.3% during 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 in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of argenex by 38.2% during the fourth quarter. Farther Finance Advisors LLC now owns 76 shares of the company's stock valued at $47,000 after acquiring an additional 21 shares in the last quarter. Greenleaf Trust raised its position in shares of argenex by 3.5% in the 1st quarter. Greenleaf Trust now owns 624 shares of the company's stock valued at $369,000 after purchasing an additional 21 shares during the last quarter. Rakuten Securities Inc. raised its position in shares of argenex by 56.4% in the 1st 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. Finally, EverSource Wealth Advisors LLC boosted its stake in argenex by 23.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 121 shares of the company's stock worth $74,000 after purchasing an additional 23 shares in the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Morgan Stanley began coverage on shares of argenex in a research note on Thursday, July 3rd. They set an "overweight" rating and a $700.00 price objective for the company. Wedbush reaffirmed an "outperform" rating and set a $715.00 price target on shares of argenex in a research report on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft raised argenex from a "hold" rating to a "buy" rating in a report on Tuesday, July 8th. Citigroup restated a "buy" rating on shares of argenex in a research note on Wednesday, May 21st. Finally, Oppenheimer increased their price target on shares of argenex from $704.00 to $708.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Nineteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, argenex presently has a consensus rating of "Buy" and an average price target of $728.06.

argenex Stock Down 0.9%

Shares of argenex stock traded down $5.21 on Thursday, reaching $572.71. The company's stock had a trading volume of 450,852 shares, compared to its average volume of 333,195. The stock has a 50-day moving average price of $563.61 and a 200-day moving average price of $600.37. argenex SE has a 52-week low of $457.42 and a 52-week high of $678.21. The company has a market capitalization of $35.05 billion, a P/E ratio of 35.33, a PEG ratio of 1.00 and a beta of 0.37.

argenex (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.32 by $0.26. argenex had a return on equity of 16.15% and a net margin of 40.20%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $748.34 million. Sell-side analysts forecast that argenex SE will post 3.13 earnings per share for the current fiscal 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.