M&T Bank Corp Increases Holdings in argenex SE $ARGX

Key Points

• M&T Bank Corp raised its stake in argenex by 34.8% in Q4, buying 1,286 shares to own 4,980 shares worth about $4.19 million.
• ARGX opened at $807.55 with a market cap of $50.22 billion, a P/E of 41.37 and a 52‑week range of $510.05–$934.62.
• Analysts hold a consensus "Moderate Buy" on argenex with an average target of $1,016.22, amid recent target trims by Guggenheim and Citi and an upgrade to Buy from Deutsche Bank.

M&T Bank Corp grew its holdings in shares of argenex SE (NASDAQ:ARGX - Free Report) by 34.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,980 shares of the company's stock after buying an additional 1,286 shares during the period. M&T Bank Corp's holdings in argenex were worth $4,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ARGX. Sound View Wealth Advisors Group LLC lifted its holdings in shares of argenex by 3.4% in the 3rd quarter. Sound View Wealth Advisors Group LLC now owns 396 shares of the company's stock valued at $292,000 after purchasing an additional 13 shares during the last quarter. Portside Wealth Group LLC lifted its holdings in shares of argenex by 2.8% in the 3rd quarter. Portside Wealth Group LLC now owns 583 shares of the company's stock valued at $430,000 after purchasing an additional 16 shares during the last quarter. Harbor Investment Advisory LLC lifted its holdings in shares of argenex by 13.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 131 shares of the company's stock valued at $110,000 after purchasing an additional 16 shares during the last quarter. Cromwell Holdings LLC lifted its holdings in shares of argenex by 10.0% in the 3rd quarter. Cromwell Holdings LLC now owns 187 shares of the company's stock valued at $138,000 after purchasing an additional 17 shares during the last quarter. Finally, Greenleaf Trust lifted its holdings in shares of argenex by 2.8% in the 4th quarter. Greenleaf Trust now owns 619 shares of the company's stock valued at $521,000 after purchasing an additional 17 shares during the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenex Stock Up 1.6%

Shares of ARGX stock opened at $807.55 on Thursday. The stock has a market capitalization of $50.22 billion, a PE ratio of 41.37, a price-to-earnings-growth ratio of 1.31 and a beta of 0.46. argenex SE has a 52-week low of $510.05 and a 52-week high of $934.62. The stock's 50-day moving average price is $756.94 and its 200 day moving average price is $817.94.

argenex (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings results on Saturday, February 14th. The company reported $8.02 earnings per share (EPS) for the quarter. argenex had a return on equity of 38.51% and a net margin of 30.42%. Analysts expect that argenex SE will post 24.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on ARGX shares. Guggenheim reduced their target price on argenex from $1,160.00 to $1,120.00 and set a "buy" rating for the company in a report on Friday, February 27th. Wall Street Zen downgraded argenex from a "buy" rating to a "hold" rating in a report on Sunday, March 8th. Citigroup reduced their target price on argenex from $1,124.00 to $1,091.00 and set a "buy" rating for the company in a report on Thursday, January 8th. Truist Financial boosted their target price on argenex from $950.00 to $1,030.00 and gave the company a "buy" rating in a report on Thursday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded argenex from a "hold" rating to a "buy" rating in a research report on Tuesday, March 10th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, argenex presently has a consensus rating of "Moderate Buy" and an average target price of $1,016.22.

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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