Bank of New York Mellon Corp Purchases 634 Shares of argenex SE $ARGX

Bank of New York Mellon Corp increased its position in shares of argenex SE (NASDAQ:ARGX) by 3.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,183 shares of the company’s stock after buying an additional 634 shares during the quarter. Bank of New York Mellon Corp’s holdings in argenex were worth $12,548,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Sound Income Strategies LLC acquired a new stake in shares of argenex in the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC acquired a new stake in shares of argenex in the 1st quarter valued at approximately $28,000. Sunbelt Securities Inc. acquired a new stake in argenex in the third quarter valued at $36,000. WPG Advisers LLC lifted its stake in argenex by 17.8% in the 1st quarter. WPG Advisers LLC now owns 86 shares of the company’s stock valued at $63,000 after purchasing an additional 13 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in shares of argenex by 268.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 81 shares of the company’s stock worth $68,000 after acquiring an additional 59 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenex Stock Performance

argenex stock opened at $853.82 on Friday. The stock has a market capitalization of $53.41 billion, a price-to-earnings ratio of 32.79, a PEG ratio of 1.14 and a beta of 0.45. The stock’s 50 day moving average price is $875.66 and its two-hundred day moving average price is $817.63. argenex SE has a 52-week low of $631.47 and a 52-week high of $953.58.

argenex (NASDAQ:ARGX) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, beating the consensus estimate of $5.86 by $1.46. argenex had a net margin of 32.19% and a return on equity of 43.59%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.45 billion. On average, equities research analysts forecast that argenex SE will post 27.11 EPS for the current year.

Analyst Upgrades and Downgrades

ARGX has been the subject of several research analyst reports. Citizens Jmp reduced their target price on shares of argenex from $944.00 to $932.00 and set a “market outperform” rating for the company in a report on Friday, July 24th. HC Wainwright restated a “buy” rating and issued a $940.00 price target on shares of argenex in a research report on Thursday, June 25th. Oppenheimer lifted their price target on argenex from $1,014.00 to $1,037.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Weiss Ratings lowered shares of argenex from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. Finally, Bank of America boosted their price target on argenex from $1,016.00 to $1,088.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,056.89.

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.