EFG Asset Management North America Corp. Has $6.37 Million Position in argenex SE $ARGX

Key Points

• EFG Asset Management North America Corp. has reduced its stake in argenex SE by 26.0%, owning 10,755 shares following the sale of 3,769 shares, representing about 1.1% of their portfolio.
• Point72 Asset Management L.P. recently acquired a new position valued at approximately $91 million, while GAMMA Investing LLC significantly increased its stake by 53,684.9% to own 135,538 shares worth $802.2 million.
• Argenex reported earnings that exceeded expectations, with $3.74 earnings per share against a consensus estimate of $2.84, and total revenue of $866.79 million for the recent quarter.

EFG Asset Management North America Corp. trimmed its holdings in shares of argenex SE (NASDAQ:ARGX - Free Report) by 26.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,755 shares of the company's stock after selling 3,769 shares during the quarter. argenex comprises 1.1% of EFG Asset Management North America Corp.'s portfolio, making the stock its 17th biggest holding. EFG Asset Management North America Corp.'s holdings in argenex were worth $6,366,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Rakuten Securities Inc. lifted its stake in shares of argenex by 56.4% in the first quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock valued at $36,000 after buying an additional 22 shares during the period. WPG Advisers LLC bought a new stake in shares of argenex in the first quarter valued at about $37,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of argenex in the fourth quarter valued at about $38,000. Golden State Wealth Management LLC bought a new stake in shares of argenex in the first quarter valued at about $44,000. Finally, Brooklyn Investment Group lifted its stake in shares of argenex by 102.7% in the first quarter. Brooklyn Investment Group now owns 75 shares of the company's stock valued at $44,000 after buying an additional 38 shares during the period. 60.32% of the stock is currently owned by institutional investors.

argenex Price Performance

Shares of NASDAQ:ARGX traded down $2.99 during trading on Tuesday, reaching $765.02. The stock had a trading volume of 198,920 shares, compared to its average volume of 375,986. argenex SE has a 52 week low of $510.05 and a 52 week high of $769.22. The business's 50-day moving average price is $632.22 and its 200 day moving average price is $602.92. The stock has a market capitalization of $46.82 billion, a PE ratio of 39.23, a P/E/G ratio of 0.80 and a beta of 0.41.

argenex (NASDAQ:ARGX - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $3.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $776.82 million. Analysts forecast that argenex SE will post 3.13 EPS for the current year.

Wall Street Analyst Weigh In

ARGX has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on shares of argenex from $775.00 to $830.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. HC Wainwright raised their price target on shares of argenex from $720.00 to $774.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. 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 for the company. Wall Street Zen upgraded shares of argenex from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Wedbush reaffirmed an "outperform" rating and issued a $800.00 price target on shares of argenex in a research note on Monday, August 25th. Two equities research analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target 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.