ABC Arbitrage SA Acquires New Holdings in argenex SE $ARGX

Key Points

• ABC Arbitrage SA initiated a new position in argenex SE during the first quarter, buying 1,554 shares valued at about $1.135 million.
• Institutional ownership in argenex remains high, with hedge funds and other institutional investors holding 60.32% of the stock. Several other funds also recently opened small new positions.
• argenex reported strong recent results, including $5.52 EPS and $1.31 billion in revenue for the quarter, while analysts maintain a Moderate Buy rating with an average price target of $1,037.61.

ABC Arbitrage SA acquired a new position in argenex SE (NASDAQ:ARGX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,554 shares of the company's stock, valued at approximately $1,135,000.

A number of other hedge funds also recently bought and sold shares of ARGX. Abound Wealth Management boosted its position in argenex by 3,200.0% during the fourth quarter. Abound Wealth Management now owns 33 shares of the company's stock valued at $28,000 after purchasing an additional 32 shares in the last quarter. Sound Income Strategies LLC purchased a new position in argenex in the fourth quarter valued at about $28,000. Whipplewood Advisors LLC bought a new position in argenex in the first quarter worth about $28,000. Sunbelt Securities Inc. bought a new position in argenex in the third quarter worth about $36,000. Finally, Aventura Private Wealth LLC purchased a new stake in shares of argenex during the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 60.32% of the company's stock.

argenex Stock Performance

argenex stock opened at $876.25 on Tuesday. The business's 50-day simple moving average is $855.59 and its two-hundred day simple moving average is $813.01. The company has a market cap of $54.49 billion, a PE ratio of 39.01, a PEG ratio of 1.08 and a beta of 0.45. argenex SE has a fifty-two week low of $554.59 and a fifty-two week high of $953.58.

argenex (NASDAQ:ARGX - Get Free Report) last released its earnings results on Tuesday, March 31st. The company reported $5.52 EPS for the quarter. argenex had a return on equity of 44.37% and a net margin of 31.31%.The firm had revenue of $1.31 billion during the quarter. As a group, analysts predict that argenex SE will post 26.27 EPS for the current fiscal year.

Analyst Ratings Changes

ARGX has been the topic of a number of recent analyst reports. HC Wainwright restated a "buy" rating and issued a $940.00 price target on shares of argenex in a report on Thursday, June 25th. Wedbush reiterated an "outperform" rating and set a $1,000.00 price objective on shares of argenex in a research note on Thursday, June 11th. Oppenheimer decreased their target price on shares of argenex from $1,060.00 to $1,014.00 and set an "outperform" rating for the company in a research report on Thursday, April 2nd. Guggenheim raised their target price on shares of argenex from $1,120.00 to $1,135.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Finally, Morgan Stanley lifted their price target on shares of argenex from $1,170.00 to $1,180.00 and gave the stock an "overweight" rating in a report on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, argenex currently has an average rating of "Moderate Buy" and an average target price of $1,037.61.

argenex Profile

argenx NASDAQ: ARGX is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx's research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company's lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.

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