Alta Wealth Advisors LLC Makes New $623,000 Investment in argenex SE $ARGX

Alta Wealth Advisors LLC purchased a new stake in argenex SE (NASDAQ:ARGX) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 845 shares of the company’s stock, valued at approximately $623,000.

Several other institutional investors also recently made changes to their positions in the stock. Kornitzer Capital Management Inc. KS raised its position in shares of argenex by 90.9% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 1,050 shares of the company’s stock worth $774,000 after buying an additional 500 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in argenex by 11.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 3,344 shares of the company’s stock valued at $2,467,000 after acquiring an additional 335 shares during the period. Cullen Frost Bankers Inc. grew its position in argenex by 47.7% during the third quarter. Cullen Frost Bankers Inc. now owns 195 shares of the company’s stock valued at $144,000 after acquiring an additional 63 shares during the period. iA Global Asset Management Inc. increased its stake in argenex by 10.3% during the third quarter. iA Global Asset Management Inc. now owns 6,010 shares of the company’s stock worth $4,433,000 after acquiring an additional 560 shares during the last quarter. Finally, Bailard Inc. purchased a new position in shares of argenex in the 3rd quarter worth about $738,000. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenex Price Performance

NASDAQ:ARGX opened at $833.16 on Tuesday. The firm has a 50-day moving average of $857.54 and a two-hundred day moving average of $776.33. The stock has a market cap of $51.56 billion, a P/E ratio of 35.77, a PEG ratio of 0.54 and a beta of 0.38. argenex SE has a 1-year low of $510.05 and a 1-year high of $934.62.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ARGX shares. Morgan Stanley lifted their price objective 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. Wedbush restated an “outperform” rating and issued a $1,000.00 price target on shares of argenex in a report on Wednesday, January 14th. Wells Fargo & Company lifted their price target on shares of argenex from $1,264.00 to $1,317.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. HC Wainwright increased their price objective 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of argenex in a research note on Wednesday, January 21st. One equities 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 given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $986.78.

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.