The Manufacturers Life Insurance Company Cuts Stock Holdings in argenex SE $ARGX

The Manufacturers Life Insurance Company lowered its stake in shares of argenex SE (NASDAQ:ARGX - Free Report) by 14.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,330 shares of the company's stock after selling 8,078 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of argenex worth $36,023,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in argenex by 32.1% during the 1st quarter. AQR Capital Management LLC now owns 502 shares of the company's stock worth $297,000 after acquiring an additional 122 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of argenex by 5,962.5% in the first quarter. NewEdge Advisors LLC now owns 1,455 shares of the company's stock valued at $862,000 after purchasing an additional 1,431 shares during the last quarter. Focus Partners Wealth lifted its position in shares of argenex by 22.3% during the first quarter. Focus Partners Wealth now owns 400 shares of the company's stock valued at $237,000 after purchasing an additional 73 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of argenex by 550.0% during the first quarter. Geneos Wealth Management Inc. now owns 117 shares of the company's stock valued at $69,000 after purchasing an additional 99 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in argenex by 60.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 133 shares of the company's stock worth $73,000 after purchasing an additional 50 shares during the last quarter. 60.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ARGX has been the topic of several recent analyst reports. Robert W. Baird lifted their target price on shares of argenex from $867.00 to $932.00 and gave the stock a "neutral" rating in a research report on Monday. Guggenheim lifted their price target on argenex from $1,135.00 to $1,185.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Weiss Ratings cut argenex from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, July 23rd. Wells Fargo & Company upped their price objective on argenex from $1,260.00 to $1,291.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. Finally, Citizens Jmp decreased their target price on argenex from $944.00 to $932.00 and set a "market outperform" rating for the company in a research report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $1,056.89.

argenex Trading Down 1.1%

ARGX stock opened at $872.58 on Friday. The firm has a 50 day moving average of $874.71 and a 200-day moving average of $817.37. The firm has a market capitalization of $54.59 billion, a P/E ratio of 33.51, a price-to-earnings-growth ratio of 1.16 and a beta of 0.45. argenex SE has a 12 month low of $631.47 and a 12 month high of $953.58.

argenex (NASDAQ:ARGX - Get Free Report) last posted its earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, topping analysts' consensus estimates of $5.86 by $1.46. argenex had a net margin of 32.19% and a return on equity of 43.59%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.45 billion. Sell-side analysts predict that argenex SE will post 27.11 EPS for the current year.

argenex Company 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.

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