M&T Bank Corp Boosts Stock Holdings in argenx SE (NASDAQ:ARGX)

M&T Bank Corp raised its position in argenx SE (NASDAQ:ARGX) by 7.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,307 shares of the company’s stock after purchasing an additional 289 shares during the quarter. M&T Bank Corp’s holdings in argenx were worth $2,335,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MML Investors Services LLC boosted its position in argenx by 16.9% in the 3rd quarter. MML Investors Services LLC now owns 8,699 shares of the company’s stock valued at $4,715,000 after buying an additional 1,255 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in shares of argenx by 2.7% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 8,800 shares of the company’s stock valued at $4,768,000 after purchasing an additional 234 shares in the last quarter. XTX Topco Ltd boosted its stake in shares of argenx by 50.7% during the 3rd quarter. XTX Topco Ltd now owns 5,030 shares of the company’s stock valued at $2,727,000 after buying an additional 1,693 shares during the last quarter. Wellington Management Group LLP grew its position in shares of argenx by 13.0% during the third quarter. Wellington Management Group LLP now owns 482,346 shares of the company’s stock worth $261,470,000 after buying an additional 55,617 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in shares of argenx by 15.3% in the third quarter. Stifel Financial Corp now owns 8,832 shares of the company’s stock worth $4,788,000 after buying an additional 1,170 shares during the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

argenx Trading Up 0.6 %

Shares of NASDAQ:ARGX opened at $607.21 on Friday. The firm’s 50 day moving average is $581.03 and its two-hundred day moving average is $513.48. The firm has a market capitalization of $36.66 billion, a P/E ratio of -690.01 and a beta of 0.59. argenx SE has a 52 week low of $327.73 and a 52 week high of $630.00.

argenx (NASDAQ:ARGX) last posted its earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $0.10 by $1.29. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The firm had revenue of $588.88 million for the quarter, compared to analysts’ expectations of $543.29 million. During the same period last year, the firm earned ($1.25) EPS. Analysts predict that argenx SE will post 2.2 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on ARGX shares. Scotiabank upgraded shares of argenx from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $439.00 to $715.00 in a research note on Tuesday, November 5th. Baird R W downgraded argenx from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. JMP Securities upped their price objective on argenx from $497.00 to $606.00 and gave the company a “market outperform” rating in a research note on Friday, November 1st. Wedbush reiterated an “outperform” rating and issued a $655.00 target price on shares of argenx in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. upped their price target on argenx from $640.00 to $670.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $635.11.

argenx Profile

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.