2,924 Shares in argenex SE (NASDAQ:ARGX) Acquired by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP has acquired a new position in argenex SE, purchasing 2,924 shares valued at approximately $1.73 million.
• Institutional investors currently own 60.32% of argenex's stock, with several hedge funds significantly increasing their stakes in the company during the first quarter.
• Argene's stock was recently down 1.6% despite reporting strong earnings of $3.74 per share, exceeding analyst expectations of $2.84.

Aigen Investment Management LP purchased a new position in shares of argenex SE (NASDAQ:ARGX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,924 shares of the company's stock, valued at approximately $1,731,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of argenex by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 27,207 shares of the company's stock valued at $16,732,000 after buying an additional 458 shares in the last quarter. Bank of Montreal Can grew its stake in shares of argenex by 11.2% in the fourth quarter. Bank of Montreal Can now owns 9,236 shares of the company's stock worth $5,680,000 after purchasing an additional 929 shares during the last quarter. Legal & General Group Plc lifted its holdings in argenex by 2.4% in the fourth quarter. Legal & General Group Plc now owns 112,970 shares of the company's stock valued at $69,477,000 after buying an additional 2,698 shares during the period. FIL Ltd acquired a new position in argenex in the fourth quarter valued at $38,000. Finally, Raymond James Financial Inc. acquired a new position in shares of argenex during the fourth quarter valued at about $43,543,000. Institutional investors own 60.32% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of argenex from $775.00 to $830.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Wells Fargo & Company increased their target price on shares of argenex from $741.00 to $756.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. HC Wainwright upped their price target on shares of argenex from $720.00 to $774.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Wedbush restated an "outperform" rating and set a $715.00 price target on shares of argenex in a research note on Monday, July 21st. Finally, Robert W. Baird upgraded shares of 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. Eighteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $746.81.

argenex Stock Performance

ARGX stock traded down $1.34 during midday trading on Tuesday, reaching $637.56. 470,744 shares of the company were exchanged, compared to its average volume of 448,494. The stock's 50-day simple moving average is $582.84 and its 200 day simple moving average is $597.57. The company has a market cap of $39.02 billion, a price-to-earnings ratio of 32.70, a price-to-earnings-growth ratio of 0.74 and a beta of 0.39. argenex SE has a 1-year low of $510.05 and a 1-year high of $696.21.

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

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.