Amundi Has $3.75 Million Position in argenex SE $ARGX

Key Points

• Amundi has increased its holdings in argenex SE by 8.1%, now owning 6,351 shares valued at approximately $3.75 million.
• Institutional investors now hold 60.32% of argenex stock, with notable increases in stakes from Adage Capital Partners and Federation des caisses Desjardins du Quebec during the first quarter.
• After reporting earnings of $3.74 per share, which surpassed estimates, argenex received a consensus rating of “Buy” from analysts, with a target price averaging $772.84.

Amundi boosted its stake in shares of argenex SE (NASDAQ:ARGX - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,351 shares of the company's stock after buying an additional 478 shares during the period. Amundi's holdings in argenex were worth $3,747,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ARGX. Point72 Asset Management L.P. acquired a new stake in argenex during the 4th quarter valued at $91,013,000. GAMMA Investing LLC increased its holdings in shares of argenex by 53,684.9% in the 1st quarter. GAMMA Investing LLC now owns 135,538 shares of the company's stock valued at $802,200,000 after purchasing an additional 135,286 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of argenex by 1,203.4% in the 1st quarter. BNP Paribas Financial Markets now owns 133,359 shares of the company's stock valued at $78,931,000 after purchasing an additional 123,127 shares during the period. Braidwell LP increased its holdings in shares of argenex by 99.2% in the 1st quarter. Braidwell LP now owns 160,849 shares of the company's stock valued at $95,201,000 after purchasing an additional 80,083 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in argenex by 215.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 110,390 shares of the company's stock valued at $65,336,000 after buying an additional 75,435 shares during the period. Institutional investors and hedge funds own 60.32% of the company's stock.

Wall Street Analyst Weigh In

ARGX has been the topic of several research reports. Truist Financial upped their price objective on shares of argenex from $700.00 to $918.00 and gave the company a "buy" rating in a research note on Monday. HC Wainwright raised their price target on argenex from $720.00 to $774.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Bank of America increased their price objective on argenex from $880.00 to $887.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Morgan Stanley increased their price target on shares of argenex from $700.00 to $766.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada assumed coverage on shares of argenex in a research note on Monday, August 25th. They set an "outperform" rating and a $850.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, argenex has a consensus rating of "Buy" and a consensus target price of $784.32.

argenex Price Performance

Shares of argenex stock traded down $17.97 during midday trading on Wednesday, hitting $734.35. The company had a trading volume of 417,133 shares, compared to its average volume of 353,043. The business's 50 day simple moving average is $661.81 and its two-hundred day simple moving average is $609.57. The stock has a market cap of $44.94 billion, a PE ratio of 37.66, a P/E/G ratio of 0.82 and a beta of 0.41. argenex SE has a 1-year low of $510.05 and a 1-year high of $779.03.

argenex (NASDAQ:ARGX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.90. argenex had a net margin of 40.98% and a return on equity of 21.06%. 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.

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.