ADAR1 Capital Management LLC Purchases New Position in argenex SE $ARGX

Key Points

• ADAR1 Capital Management LLC acquired 600 shares of argenex SE (NASDAQ:ARGX) valued at approximately $355,000 during Q1 2023.
• Institutional investors collectively own 60.32% of argenex's stock, with several funds increasing their holdings in the same period.
• argenex reported a significant earnings beat with an EPS of $3.74 for the quarter, surpassing analyst expectations by $0.90.

ADAR1 Capital Management LLC purchased a new position in argenex SE (NASDAQ:ARGX - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 600 shares of the company's stock, valued at approximately $355,000.

Other large investors also recently made changes to their positions in the company. Federation des caisses Desjardins du Quebec lifted its stake in argenex by 105.6% during the first quarter. Federation des caisses Desjardins du Quebec now owns 2,921 shares of the company's stock valued at $1,729,000 after purchasing an additional 1,500 shares during the last quarter. Braidwell LP increased its position in shares of argenex by 99.2% in the first quarter. Braidwell LP now owns 160,849 shares of the company's stock worth $95,201,000 after acquiring an additional 80,083 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of argenex by 0.9% during the first quarter. Royal Bank of Canada now owns 38,306 shares of the company's stock valued at $22,673,000 after acquiring an additional 353 shares during the period. OLD Mission Capital LLC acquired a new position in argenex in the 1st quarter worth approximately $8,864,000. Finally, Vident Advisory LLC grew its position in argenex by 24.7% during the 1st quarter. Vident Advisory LLC now owns 1,110 shares of the company's stock worth $657,000 after purchasing an additional 220 shares in the last quarter. Institutional investors own 60.32% of the company's stock.

argenex Trading Up 2.3%

ARGX traded up $17.12 during trading on Friday, hitting $750.78. The stock had a trading volume of 485,995 shares, compared to its average volume of 365,485. The firm has a market cap of $45.95 billion, a PE ratio of 38.50, a P/E/G ratio of 0.80 and a beta of 0.41. argenex SE has a 12 month low of $510.05 and a 12 month high of $754.00. The company has a 50 day simple moving average of $627.89 and a 200-day simple moving average of $602.37.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ARGX. Piper Sandler lifted their price target on argenex from $750.00 to $820.00 and gave the company an "overweight" rating in a report on Tuesday, August 26th. Citigroup reiterated a "buy" rating on shares of argenex in a report on Wednesday, May 21st. JMP Securities set a $699.00 price objective on shares of argenex in a research report on Wednesday, May 14th. Jefferies Financial Group set a $818.00 target price on shares of argenex and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Finally, Robert W. Baird upgraded argenex from a "neutral" rating to an "outperform" rating and set a $680.00 target price on the stock in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company's stock. According to MarketBeat.com, argenex currently has an average rating of "Buy" and an average target price of $772.84.

About argenex

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.