Bank of New York Mellon Corp Acquires 464 Shares of argenx SE (NASDAQ:ARGX)

Bank of New York Mellon Corp grew its position in shares of argenx SE (NASDAQ:ARGX - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 6,362 shares of the company's stock after purchasing an additional 464 shares during the quarter. Bank of New York Mellon Corp's holdings in argenx were worth $3,913,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of ARGX. Victory Capital Management Inc. increased its position in shares of argenx by 69.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,562 shares of the company's stock valued at $847,000 after purchasing an additional 642 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of argenx during the 3rd quarter worth $453,000. OneDigital Investment Advisors LLC boosted its stake in shares of argenx by 13.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,194 shares of the company's stock worth $647,000 after acquiring an additional 139 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of argenx by 13.0% during the 3rd quarter. Natixis Advisors LLC now owns 12,014 shares of the company's stock worth $6,513,000 after acquiring an additional 1,379 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of argenx by 1.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 37,352 shares of the company's stock worth $20,248,000 after acquiring an additional 564 shares in the last quarter. 60.32% of the stock is currently owned by institutional investors and hedge funds.

argenx Trading Up 0.3 %

NASDAQ ARGX traded up $1.98 during trading on Friday, hitting $615.02. 250,919 shares of the company traded hands, compared to its average volume of 282,458. argenx SE has a 12 month low of $352.77 and a 12 month high of $678.21. The business has a fifty day simple moving average of $634.69 and a 200 day simple moving average of $599.15. The company has a market capitalization of $37.37 billion, a P/E ratio of -698.89 and a beta of 0.59.

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argenx (NASDAQ:ARGX - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.60. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The company had revenue of $761.22 million for the quarter, compared to analyst estimates of $678.52 million. Equities research analysts predict that argenx SE will post 3.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ARGX. Guggenheim raised their price objective on argenx from $775.00 to $1,100.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Truist Financial reissued a "buy" rating and set a $700.00 price objective (up from $660.00) on shares of argenx in a research note on Tuesday, January 14th. Piper Sandler raised their price objective on argenx from $620.00 to $725.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 7th. Wells Fargo & Company raised their price objective on argenx from $723.00 to $741.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Finally, JMP Securities raised their target price on argenx from $606.00 to $696.00 and gave the stock a "market outperform" rating in a research report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, argenx has an average rating of "Moderate Buy" and a consensus target price of $687.00.

About argenx

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.