Mirae Asset Global Investments Co. Ltd. Buys 2,018 Shares of argenex SE $ARGX

Key Points

• Mirae Asset Global Investments increased its stake in argenex by 22.9%, buying an additional 2,018 shares to hold 10,846 shares worth $9.121 million, per its latest 13F filing.
• Multiple large institutions—including Wellington, Two Sigma, Woodline, Alkeon and Balyasny—also materially boosted positions, and institutional investors now own 60.32% of ARGX.
• Analysts carry a consensus rating of Moderate Buy with an average target of $1,016.22 despite recent downward target revisions; ARGX opened at $849.04 with a $52.8 billion market cap and a P/E of 43.5.

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of argenex SE (NASDAQ:ARGX - Free Report) by 22.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,846 shares of the company's stock after purchasing an additional 2,018 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in argenex were worth $9,121,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ARGX. Wellington Management Group LLP raised its stake in shares of argenex by 80.1% during the 3rd quarter. Wellington Management Group LLP now owns 729,986 shares of the company's stock valued at $538,408,000 after purchasing an additional 324,653 shares during the period. Two Sigma Investments LP raised its stake in shares of argenex by 570.3% during the 3rd quarter. Two Sigma Investments LP now owns 294,160 shares of the company's stock valued at $216,961,000 after purchasing an additional 250,278 shares during the period. Woodline Partners LP raised its stake in shares of argenex by 320.8% during the 3rd quarter. Woodline Partners LP now owns 169,476 shares of the company's stock valued at $124,999,000 after purchasing an additional 129,205 shares during the period. Alkeon Capital Management LLC raised its stake in shares of argenex by 133.3% during the 3rd quarter. Alkeon Capital Management LLC now owns 175,000 shares of the company's stock valued at $129,073,000 after purchasing an additional 100,000 shares during the period. Finally, Balyasny Asset Management L.P. raised its stake in shares of argenex by 826.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 89,296 shares of the company's stock valued at $49,222,000 after purchasing an additional 79,659 shares during the period. 60.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on ARGX shares. Wells Fargo & Company decreased their target price on argenex from $1,317.00 to $1,247.00 and set an "overweight" rating on the stock in a research note on Friday, February 27th. Citigroup decreased their target price on argenex from $1,124.00 to $1,091.00 and set a "buy" rating on the stock in a research note on Thursday, January 8th. Oppenheimer decreased their target price on argenex from $1,060.00 to $1,014.00 and set an "outperform" rating on the stock in a research note on Thursday, April 2nd. Royal Bank Of Canada decreased their target price on argenex from $925.00 to $890.00 and set an "outperform" rating on the stock in a research note on Friday, February 27th. Finally, HC Wainwright upped their target price on argenex from $915.00 to $940.00 and gave the stock a "buy" rating in a research note on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, argenex presently has a consensus rating of "Moderate Buy" and an average target price of $1,016.22.

argenex Stock Performance

Shares of argenex stock opened at $849.04 on Monday. The firm has a market capitalization of $52.80 billion, a PE ratio of 43.50, a price-to-earnings-growth ratio of 1.40 and a beta of 0.46. The business's 50-day moving average price is $766.15 and its 200-day moving average price is $818.80. argenex SE has a 12 month low of $510.05 and a 12 month high of $934.62.

argenex (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings data on Saturday, February 14th. The company reported $8.02 EPS for the quarter. argenex had a return on equity of 38.51% and a net margin of 30.42%. As a group, analysts predict that argenex SE will post 3.13 earnings per share for the current fiscal year.

About argenex

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.

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