Bamco Inc. NY Cuts Stock Holdings in argenex SE $ARGX

Bamco Inc. NY reduced its stake in argenex SE (NASDAQ:ARGX) by 7.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,694 shares of the company’s stock after selling 13,039 shares during the period. Bamco Inc. NY owned approximately 0.27% of argenex worth $123,684,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ARGX. Ameriflex Group Inc. purchased a new stake in argenex during the 3rd quarter worth about $32,000. Bessemer Group Inc. raised its position in argenex by 276.5% in the 3rd quarter. Bessemer Group Inc. now owns 64 shares of the company’s stock valued at $47,000 after purchasing an additional 47 shares in the last quarter. MAI Capital Management boosted its stake in shares of argenex by 866.7% in the 2nd quarter. MAI Capital Management now owns 87 shares of the company’s stock valued at $48,000 after buying an additional 78 shares during the period. Mather Group LLC. acquired a new position in shares of argenex during the third quarter worth about $50,000. Finally, Rossby Financial LCC grew its position in shares of argenex by 115.2% during the third quarter. Rossby Financial LCC now owns 71 shares of the company’s stock worth $54,000 after buying an additional 38 shares in the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenex Stock Down 1.2%

Shares of ARGX opened at $700.45 on Friday. The stock has a 50 day moving average price of $804.00 and a 200 day moving average price of $816.72. The company has a market capitalization of $43.34 billion, a price-to-earnings ratio of 35.88, a price-to-earnings-growth ratio of 1.16 and a beta of 0.38. argenex SE has a 52-week low of $510.05 and a 52-week high of $934.62.

argenex (NASDAQ:ARGX) last announced its quarterly earnings results on Thursday, February 26th. The company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.05 by $1.97. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. argenex had a net margin of 30.42% and a return on equity of 38.51%. On average, equities analysts anticipate that argenex SE will post 3.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ARGX. HC Wainwright upped their target price on shares of argenex from $915.00 to $940.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Truist Financial boosted their price target on shares of argenex from $950.00 to $1,030.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Morgan Stanley increased their price objective on shares of argenex from $1,070.00 to $1,110.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Stifel Nicolaus raised their price objective on shares of argenex from $1,028.00 to $1,248.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Deutsche Bank Aktiengesellschaft raised shares of argenex from a “hold” rating to a “buy” rating in a research report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, argenex currently has an average rating of “Moderate Buy” and a consensus price target of $999.22.

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.