Zimmer Partners LP Invests $8.17 Million in argenex SE $ARGX

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

Other hedge funds also recently bought and sold shares of the company. Greenleaf Trust increased its stake in argenex by 3.5% in the first quarter. Greenleaf Trust now owns 624 shares of the company's stock valued at $369,000 after purchasing an additional 21 shares during the last quarter. Rakuten Securities Inc. grew its holdings in argenex by 56.4% in the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock valued at $36,000 after buying an additional 22 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of argenex by 1.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,829 shares of the company's stock worth $1,083,000 after acquiring an additional 24 shares during the period. M&T Bank Corp lifted its holdings in shares of argenex by 0.6% during the 1st quarter. M&T Bank Corp now owns 4,296 shares of the company's stock worth $2,542,000 after acquiring an additional 27 shares during the period. Finally, Nkcfo LLC boosted its position in shares of argenex by 32.7% in the first quarter. Nkcfo LLC now owns 146 shares of the company's stock worth $86,000 after acquiring an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company's stock.

argenex Trading Up 0.1%

NASDAQ:ARGX traded up $0.63 during trading hours on Thursday, hitting $763.52. The stock had a trading volume of 367,572 shares, compared to its average volume of 347,447. The company has a market cap of $46.73 billion, a PE ratio of 39.15, a price-to-earnings-growth ratio of 0.81 and a beta of 0.41. The business has a 50 day simple moving average of $645.47 and a two-hundred day simple moving average of $606.10. argenex SE has a 1-year low of $510.05 and a 1-year high of $779.03.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of 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 boosted their price target on argenex from $741.00 to $756.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Bank of America upped their price target on argenex from $880.00 to $887.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. Guggenheim lifted their price objective on argenex from $1,060.00 to $1,070.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Jefferies Financial Group set a $818.00 target price on argenex and gave the stock a "buy" rating in a report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $772.84.

argenex 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.