M&T Bank Corp Sells 38 Shares of argenx SE (NASDAQ:ARGX)

M&T Bank Corp lessened its stake in shares of argenx SE (NASDAQ:ARGX) by 0.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,269 shares of the company’s stock after selling 38 shares during the period. M&T Bank Corp’s holdings in argenx were worth $2,626,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stifel Financial Corp raised its stake in shares of argenx by 15.3% during the third quarter. Stifel Financial Corp now owns 8,832 shares of the company’s stock valued at $4,788,000 after acquiring an additional 1,170 shares in the last quarter. FMR LLC raised its stake in shares of argenx by 35.9% during the third quarter. FMR LLC now owns 4,793,472 shares of the company’s stock valued at $2,598,445,000 after acquiring an additional 1,265,486 shares in the last quarter. Simplify Asset Management Inc. raised its stake in shares of argenx by 64.0% during the third quarter. Simplify Asset Management Inc. now owns 2,419 shares of the company’s stock valued at $1,311,000 after acquiring an additional 944 shares in the last quarter. Stephens Inc. AR bought a new stake in shares of argenx during the fourth quarter valued at approximately $310,000. Finally, Ritholtz Wealth Management increased its holdings in argenx by 85.5% during the fourth quarter. Ritholtz Wealth Management now owns 898 shares of the company’s stock valued at $552,000 after buying an additional 414 shares during the period. Institutional investors own 60.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ARGX shares. Robert W. Baird lifted their price objective on shares of argenx from $650.00 to $680.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft lowered shares of argenx from a “hold” rating to a “sell” rating in a report on Friday, January 17th. Oppenheimer lifted their price objective on shares of argenx from $675.00 to $704.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Wedbush reissued an “outperform” rating and set a $655.00 price objective on shares of argenx in a report on Tuesday, December 3rd. Finally, Evercore ISI lifted their price objective on shares of argenx from $675.00 to $706.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $662.83.

argenx Price Performance

Shares of ARGX opened at $594.21 on Friday. The firm has a market capitalization of $36.10 billion, a PE ratio of -675.24 and a beta of 0.59. argenx SE has a 1-year low of $349.86 and a 1-year high of $678.21. The company’s fifty day moving average price is $641.45 and its 200-day moving average price is $594.00.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, February 27th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.60. The firm had revenue of $761.22 million for the quarter, compared to analyst estimates of $678.52 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. As a group, research analysts anticipate that argenx SE will post 3.13 EPS for the current fiscal year.

About argenx

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.