The Manufacturers Life Insurance Company Sells 8,078 Shares of argenex SE $ARGX

The Manufacturers Life Insurance Company decreased its holdings in shares of argenex SE (NASDAQ:ARGX) 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’s holdings in argenex were worth $36,023,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Sivik Global Healthcare LLC acquired a new stake in shares of argenex in the fourth quarter worth approximately $1,261,000. Mirae Asset Global Investments Co. Ltd. raised its stake in argenex by 22.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,846 shares of the company’s stock valued at $9,121,000 after purchasing an additional 2,018 shares during the last quarter. SG Americas Securities LLC lifted its holdings in argenex by 94.9% in the 4th quarter. SG Americas Securities LLC now owns 3,179 shares of the company’s stock valued at $2,673,000 after purchasing an additional 1,548 shares in the last quarter. M&T Bank Corp lifted its holdings in argenex by 34.8% in the 4th quarter. M&T Bank Corp now owns 4,980 shares of the company’s stock valued at $4,188,000 after purchasing an additional 1,286 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in argenex by 65.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,226 shares of the company’s stock worth $2,713,000 after purchasing an additional 1,280 shares during the last quarter. 60.32% of the stock is currently owned by institutional investors.

argenex Stock Down 1.1%

Shares of ARGX opened at $872.58 on Friday. argenex SE has a 52-week low of $631.47 and a 52-week high of $953.58. The stock has a fifty day simple moving average of $874.71 and a two-hundred day simple moving average of $817.37. The company has a market capitalization of $54.59 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 1.16 and a beta of 0.45.

argenex (NASDAQ:ARGX) last announced 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 for the quarter, compared to analysts’ expectations of $1.45 billion. As a group, equities analysts anticipate that argenex SE will post 27.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $940.00 target price on shares of argenex in a research report on Thursday, June 25th. Royal Bank Of Canada upped their price objective on shares of argenex from $945.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Robert W. Baird increased their price objective on shares of argenex from $867.00 to $932.00 and gave the company a “neutral” rating in a report on Monday. Weiss Ratings lowered shares of argenex from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. Finally, Oppenheimer raised their target price on shares of argenex from $1,014.00 to $1,037.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Two research 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.