Mirae Asset Global Investments Co. Ltd. Acquires 4,217 Shares of argenex SE $ARGX

Mirae Asset Global Investments Co. Ltd. raised its holdings in argenex SE (NASDAQ:ARGX) by 91.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,828 shares of the company’s stock after buying an additional 4,217 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in argenex were worth $6,511,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Federated Hermes Inc. increased its holdings in shares of argenex by 0.5% during the 3rd quarter. Federated Hermes Inc. now owns 124,224 shares of the company’s stock worth $91,623,000 after acquiring an additional 565 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in argenex by 4.4% during the third quarter. Valeo Financial Advisors LLC now owns 1,360 shares of the company’s stock worth $1,003,000 after purchasing an additional 57 shares during the period. Truist Financial Corp increased its holdings in shares of argenex by 7.7% in the third quarter. Truist Financial Corp now owns 4,865 shares of the company’s stock valued at $3,589,000 after purchasing an additional 349 shares during the last quarter. Alta Wealth Advisors LLC acquired a new position in shares of argenex in the third quarter valued at $623,000. Finally, Kornitzer Capital Management Inc. KS raised its position in shares of argenex by 90.9% in the third quarter. Kornitzer Capital Management Inc. KS now owns 1,050 shares of the company’s stock valued at $774,000 after purchasing an additional 500 shares during the period. 60.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of argenex in a research report on Wednesday, January 21st. Zacks Research cut argenex from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. Evercore ISI boosted their target price on shares of argenex from $775.00 to $910.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Morgan Stanley lifted their price target on argenex from $1,070.00 to $1,110.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of argenex in a research report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $986.78.

argenex Price Performance

Shares of ARGX stock opened at $840.50 on Friday. argenex SE has a one year low of $510.05 and a one year high of $934.62. The business’s 50 day simple moving average is $852.12 and its 200 day simple moving average is $782.95. The stock has a market capitalization of $52.01 billion, a PE ratio of 36.09, a PEG ratio of 0.56 and a beta of 0.38.

argenex (NASDAQ:ARGX) last posted its quarterly earnings data on Thursday, October 30th. The company reported $4.40 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 company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. As a group, research analysts expect that argenex SE will post 3.13 earnings per share for the current year.

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.