Independent Advisor Alliance Raises Holdings in argenex SE $ARGX

Independent Advisor Alliance raised its stake in shares of argenex SE (NASDAQ:ARGX) by 7.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,604 shares of the company’s stock after acquiring an additional 618 shares during the period. Independent Advisor Alliance’s holdings in argenex were worth $6,346,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. AQR Capital Management LLC increased its position in shares of argenex by 32.1% during the first 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 period. NewEdge Advisors LLC increased its holdings in shares of argenex by 5,962.5% in the 1st quarter. NewEdge Advisors LLC now owns 1,455 shares of the company’s stock valued at $862,000 after acquiring an additional 1,431 shares during the last quarter. Focus Partners Wealth increased its stake in argenex by 22.3% in 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 during the last quarter. Geneos Wealth Management Inc. grew its position in shares of argenex by 550.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 117 shares of the company’s stock valued at $69,000 after buying an additional 99 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of argenex by 2.6% during the second quarter. Janney Montgomery Scott LLC now owns 1,171 shares of the company’s stock worth $645,000 after purchasing an additional 30 shares during the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ARGX shares. HC Wainwright raised their target price on shares of argenex from $774.00 to $915.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Wall Street Zen upgraded shares of argenex from a “hold” rating to a “buy” rating in a research report on Saturday. Piper Sandler raised their target price on argenex from $820.00 to $930.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Morgan Stanley increased their target price on shares of argenex from $1,070.00 to $1,110.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Finally, Wolfe Research restated a “peer perform” rating on shares of argenex in a research report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, argenex presently has a consensus rating of “Moderate Buy” and a consensus price target of $986.78.

argenex Trading Down 0.9%

NASDAQ ARGX opened at $840.50 on Friday. The business’s 50-day moving average price is $852.12 and its 200 day moving average price is $782.95. argenex SE has a twelve month low of $510.05 and a twelve month high of $934.62. The company has a market capitalization of $52.01 billion, a PE ratio of 36.09, a price-to-earnings-growth ratio of 0.56 and a beta of 0.38.

argenex (NASDAQ:ARGX) last released its earnings results on Thursday, October 30th. The company reported $4.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.37 by $0.03. argenex had a net margin of 41.58% and a return on equity of 29.78%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.07 billion. Equities analysts predict that argenex SE will post 3.13 EPS for the current year.

argenex 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.