13,800 Shares in argenex SE $ARGX Purchased by Zimmer Partners LP

Key Points

• Zimmer Partners LP has acquired 13,800 shares of argenex SE, worth approximately $8.17 million, as reported in their recent SEC filing.
• Several hedge funds, including Millennium Management and GAMMA Investing, have significantly increased their holdings in argenex, reflecting 60.32% institutional ownership of the stock.
• Argentex reported a quarterly earnings per share of $3.74, surpassing analysts' expectations and signaling strong financial performance and growth potential.

Zimmer Partners LP bought a new position in shares of argenex SE (NASDAQ:ARGX - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,800 shares of the company's stock, valued at approximately $8,168,000.

Other institutional investors also recently modified their holdings of the company. Point72 Europe London LLP acquired a new position in shares of argenex during the fourth quarter worth approximately $5,839,000. Ameriprise Financial Inc. grew its holdings in argenex by 10.0% during the fourth quarter. Ameriprise Financial Inc. now owns 7,013 shares of the company's stock worth $4,313,000 after buying an additional 639 shares in the last quarter. Royal Bank of Canada grew its holdings in argenex by 0.9% during the first quarter. Royal Bank of Canada now owns 38,306 shares of the company's stock worth $22,673,000 after buying an additional 353 shares in the last quarter. Sowell Financial Services LLC bought a new stake in argenex during the first quarter worth $332,000. Finally, Cetera Investment Advisers grew its holdings in argenex by 33.1% during the first quarter. Cetera Investment Advisers now owns 5,491 shares of the company's stock worth $3,250,000 after buying an additional 1,364 shares in the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

argenex Price Performance

Shares of NASDAQ ARGX traded down $7.14 during trading on Friday, reaching $756.38. 339,273 shares of the stock traded hands, compared to its average volume of 350,555. argenex SE has a 52-week low of $510.05 and a 52-week high of $779.03. The company has a 50-day moving average of $649.73 and a 200-day moving average of $606.77. The stock has a market capitalization of $46.29 billion, a P/E ratio of 38.79, a price-to-earnings-growth ratio of 0.80 and a beta of 0.41.

argenex (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $3.74 EPS for the quarter, beating analysts' consensus estimates of $2.84 by $0.90. argenex had a return on equity of 21.06% and a net margin of 40.98%.The firm had revenue of $866.79 million for the quarter, compared to analysts' expectations of $776.82 million. Analysts expect that argenex SE will post 3.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ARGX. Guggenheim upped their price target on argenex from $1,060.00 to $1,070.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Royal Bank Of Canada began coverage on argenex in a research note on Monday, August 25th. They issued an "outperform" rating and a $850.00 price objective for the company. Morgan Stanley upped their price objective on argenex from $700.00 to $766.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Wells Fargo & Company upped their price objective on argenex from $741.00 to $756.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, Bank of America upped their price objective on argenex from $880.00 to $887.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, argenex presently has a consensus rating of "Buy" and an average price target of $772.84.

argenex Company 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.