1,758 Shares in argenex SE (NASDAQ:ARGX) Bought by ABC Arbitrage SA

Key Points

• ABC Arbitrage SA purchased 1,758 shares of argenex SE, valued at approximately $1,040,000, during the first quarter, as reported in their recent SEC filing.
• argenex SE reported an earnings beat with $3.74 EPS for the last quarter, significantly exceeding analyst expectations of $2.84.
• Investment analysts have a consensus rating of "Buy" for argenex, with 19 analysts giving it a buy rating and two assigning a strong buy rating, and a target price of $746.81.

ABC Arbitrage SA purchased a new position in argenex SE (NASDAQ:ARGX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,758 shares of the company's stock, valued at approximately $1,040,000.

A number of other hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in shares of argenex by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 27,207 shares of the company's stock worth $16,732,000 after buying an additional 458 shares in the last quarter. Huntington National Bank raised its holdings in shares of argenex by 1,133.3% during the 4th quarter. Huntington National Bank now owns 74 shares of the company's stock worth $46,000 after buying an additional 68 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of argenex by 15.7% during the 4th quarter. Wells Fargo & Company MN now owns 52,711 shares of the company's stock worth $32,417,000 after buying an additional 7,149 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of argenex by 10.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 75,037 shares of the company's stock worth $46,148,000 after buying an additional 7,146 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of argenex by 11.2% during the 4th quarter. Bank of Montreal Can now owns 9,236 shares of the company's stock worth $5,680,000 after buying an additional 929 shares in the last quarter. Institutional investors own 60.32% of the company's stock.

argenex Price Performance

Shares of argenex stock opened at $674.90 on Wednesday. argenex SE has a one year low of $485.91 and a one year high of $696.21. The stock's 50-day moving average is $575.07 and its 200 day moving average is $597.18. The firm has a market cap of $41.30 billion, a price-to-earnings ratio of 34.61, a PEG ratio of 0.86 and a beta of 0.39.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ARGX shares. Baird R W raised argenex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. upped their target price on argenex from $775.00 to $830.00 and gave the stock an "overweight" rating in a report on Monday. Citigroup reaffirmed a "buy" rating on shares of argenex in a report on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft raised argenex from a "hold" rating to a "buy" rating in a report on Tuesday, July 8th. Finally, JMP Securities set a $699.00 target price on argenex in a report on Wednesday, May 14th. Nineteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, argenex has a consensus rating of "Buy" and a consensus target price of $746.81.

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.

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