Allspring Global Investments Holdings LLC Sells 38,598 Shares of argenex SE $ARGX

Allspring Global Investments Holdings LLC trimmed its position in shares of argenex SE (NASDAQ:ARGX) by 18.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 172,732 shares of the company’s stock after selling 38,598 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.28% of argenex worth $145,093,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Abound Wealth Management lifted its holdings in shares of argenex by 3,200.0% during the fourth quarter. Abound Wealth Management now owns 33 shares of the company’s stock worth $28,000 after purchasing an additional 32 shares during the period. Ameriflex Group Inc. acquired a new stake in argenex in the third quarter valued at $32,000. Sunbelt Securities Inc. bought a new position in argenex during the 3rd quarter worth $36,000. Aventura Private Wealth LLC bought a new position in argenex during the 4th quarter worth $38,000. Finally, Bessemer Group Inc. lifted its holdings in argenex by 276.5% during the 3rd quarter. Bessemer Group Inc. now owns 64 shares of the company’s stock worth $47,000 after buying an additional 47 shares during the period. 60.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on ARGX. Wedbush reiterated an “outperform” rating and issued a $1,000.00 price target on shares of argenex in a research report on Monday, March 9th. DZ Bank raised argenex to a “strong-buy” rating in a research note on Friday, December 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of argenex in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft raised shares of argenex from a “hold” rating to a “buy” rating in a research report on Tuesday, March 10th. Finally, Wells Fargo & Company lowered their price target on shares of argenex from $1,317.00 to $1,247.00 and set an “overweight” rating for the company in a report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $999.22.

argenex Stock Up 1.9%

Shares of ARGX stock opened at $704.31 on Tuesday. The firm has a 50 day moving average of $779.14 and a 200-day moving average of $813.86. The company has a market cap of $43.58 billion, a price-to-earnings ratio of 36.08, a price-to-earnings-growth ratio of 1.14 and a beta of 0.38. argenex SE has a 52 week low of $510.05 and a 52 week high of $934.62.

argenex (NASDAQ:ARGX) last released its earnings results on Saturday, February 14th. The company reported $8.02 earnings per share (EPS) for the quarter. argenex had a net margin of 30.42% and a return on equity of 38.51%. Analysts anticipate 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.