Braidwell LP Acquires 80,083 Shares of argenex SE $ARGX

Key Points

• Braidwell LP raised its stake in argenex SE by 99.2% in Q1, now owning 160,849 shares valued at approximately $95.2 million, making it the company's 8th largest shareholder.
• Institutional investors hold over 60% of argenex's stock, with several firms such as RTW Investments and Lord Abbett increasing their holdings significantly in recent quarters.
• Analysts have a positive outlook on argenex, with multiple buy ratings and an average price target of $766.50, reflecting strong earnings performance exceeding estimates.

Braidwell LP raised its holdings in argenex SE (NASDAQ:ARGX - Free Report) by 99.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 160,849 shares of the company's stock after buying an additional 80,083 shares during the quarter. argenex accounts for approximately 3.3% of Braidwell LP's holdings, making the stock its 8th biggest holding. Braidwell LP owned approximately 0.26% of argenex worth $95,201,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Royal Bank of Canada lifted its position in shares of argenex by 0.9% during the 1st quarter. Royal Bank of Canada now owns 38,306 shares of the company's stock worth $22,673,000 after buying an additional 353 shares during the period. OLD Mission Capital LLC bought a new position in shares of argenex during the 1st quarter worth approximately $8,864,000. Vident Advisory LLC lifted its position in shares of 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 buying an additional 220 shares during the period. Driehaus Capital Management LLC grew its holdings in shares of argenex by 3.6% in the 1st quarter. Driehaus Capital Management LLC now owns 49,071 shares of the company's stock worth $29,043,000 after purchasing an additional 1,717 shares during the last quarter. Finally, WPG Advisers LLC bought a new stake in shares of argenex in the 1st quarter worth about $37,000. Institutional investors own 60.32% of the company's stock.

argenex Trading Up 2.3%

NASDAQ ARGX traded up $17.12 on Friday, hitting $750.78. 485,995 shares of the company were exchanged, compared to its average volume of 365,485. The firm has a 50 day moving average of $627.89 and a two-hundred day moving average of $602.63. The company has a market cap of $45.95 billion, a P/E ratio of 38.50, a P/E/G ratio of 0.78 and a beta of 0.41. argenex SE has a 1-year low of $510.05 and a 1-year high of $754.00.

argenex (NASDAQ:ARGX - Get Free Report) last issued 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 business had revenue of $866.79 million for the quarter, compared to the consensus estimate of $776.82 million. Research analysts anticipate that argenex SE will post 3.13 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. HC Wainwright upped their target price on shares of argenex from $720.00 to $774.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Oppenheimer upped their target price on shares of argenex from $704.00 to $708.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Citigroup reaffirmed a "buy" rating on shares of argenex in a report on Wednesday, May 21st. Robert W. Baird raised shares of argenex from a "neutral" rating to an "outperform" rating and set a $680.00 target price on the stock in a report on Tuesday, May 13th. Finally, Wells Fargo & Company upped their target price on shares of argenex from $741.00 to $756.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $772.84.

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.