19,886 argenex SE $ARGX Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its argenx position by 120.3% in the third quarter, acquiring 19,886 additional shares and bringing its holdings to 36,417 shares valued at approximately $34.9 million.
• argenx shares opened at $819.14, down 3.2%, with a market capitalization of about $51.25 billion. Institutional investors collectively own 60.32% of the company.
• The company exceeded quarterly expectations with $7.32 in earnings per share versus a $5.86 consensus estimate and $1.54 billion in revenue. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $1,151.95.

Assenagon Asset Management S.A. grew its position in shares of argenex SE (NASDAQ:ARGX - Free Report) by 120.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,417 shares of the company's stock after purchasing an additional 19,886 shares during the period. Assenagon Asset Management S.A. owned approximately 0.06% of argenex worth $34,921,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Eastern Bank bought a new stake in argenex in the second quarter worth $32,000. Whipplewood Advisors LLC purchased a new stake in argenex during the first quarter valued at $28,000. Axiom Investment Management LLC purchased a new stake in argenex during the first quarter valued at $50,000. Mather Group LLC. raised its stake in argenex by 19.1% during the third quarter. Mather Group LLC. now owns 81 shares of the company's stock valued at $78,000 after purchasing an additional 13 shares in the last quarter. Finally, WPG Advisers LLC lifted its position in argenex by 17.8% during the first quarter. WPG Advisers LLC now owns 86 shares of the company's stock valued at $63,000 after purchasing an additional 13 shares during the last quarter. 60.32% of the stock is owned by institutional investors.

argenex Trading Down 3.2%

argenex stock opened at $819.14 on Friday. argenex SE has a 12-month low of $661.85 and a 12-month high of $1,072.75. The firm has a 50-day moving average price of $956.23 and a 200-day moving average price of $880.73. The firm has a market capitalization of $51.25 billion, a PE ratio of 31.46, a price-to-earnings-growth ratio of 0.75 and a beta of 0.44.

argenex (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 EPS for the quarter, beating the consensus estimate of $5.86 by $1.46. argenex had a net margin of 32.19% and a return on equity of 43.59%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.45 billion. As a group, sell-side analysts predict that argenex SE will post 28.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ARGX has been the subject of a number of recent research reports. Sanford C. Bernstein reissued a "buy" rating on shares of argenex in a research note on Thursday, October 8th. BNP Paribas Exane assumed coverage on shares of argenex in a report on Monday, June 22nd. They issued an "outperform" rating and a $1,219.00 target price on the stock. Royal Bank Of Canada upped their target price on shares of argenex from $1,025.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Tuesday, August 18th. Jefferies Financial Group restated a "buy" rating on shares of argenex in a research report on Monday, September 14th. Finally, JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of argenex in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, argenex presently has an average rating of "Moderate Buy" and an average target price of $1,151.95.

argenex Company Profile

argenx SE NASDAQ: ARGX is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company combines antibody engineering technologies with disease biology to discover medicines that target the underlying mechanisms of immune-mediated disorders.

argenx's leading product is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo in the United States. The therapies are designed to reduce disease-causing immunoglobulin G (IgG) antibodies by targeting the neonatal Fc receptor (FcRn).

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