Assenagon Asset Management S.A. Has $15.34 Million Stock Holdings in argenex SE $ARGX

Key Points

• Assenagon Asset Management increased its argenex stake by 11.8% in the second quarter, holding 16,531 shares valued at approximately $15.34 million. Institutional investors and hedge funds collectively own 60.32% of ARGX.
• argenex reported quarterly EPS of $7.32, exceeding estimates of $5.86, while revenue reached $1.54 billion versus the $1.45 billion consensus estimate.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $1,056.89, compared with the stock’s reported price of $866.11.

Assenagon Asset Management S.A. raised its holdings in argenex SE (NASDAQ:ARGX - Free Report) by 11.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,531 shares of the company's stock after acquiring an additional 1,745 shares during the period. Assenagon Asset Management S.A.'s holdings in argenex were worth $15,337,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ARGX. Sound Income Strategies LLC acquired a new stake in argenex in the fourth quarter valued at $28,000. Whipplewood Advisors LLC bought a new position in argenex during the first quarter worth about $28,000. Eastern Bank acquired a new stake in shares of argenex in the second quarter valued at approximately $32,000. Sunbelt Securities Inc. acquired a new position in argenex in the 3rd quarter valued at $36,000. Finally, Axiom Investment Management LLC acquired a new position in argenex in the first quarter valued at about $50,000. 60.32% of the stock is currently owned by institutional investors and hedge funds.

argenex Price Performance

Shares of argenex stock opened at $866.11 on Tuesday. argenex SE has a fifty-two week low of $631.47 and a fifty-two week high of $953.58. The firm has a market capitalization of $54.18 billion, a P/E ratio of 33.26, a P/E/G ratio of 1.09 and a beta of 0.46. The company's 50 day moving average price is $879.73 and its two-hundred day moving average price is $820.01.

argenex (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.86 by $1.46. argenex had a net margin of 32.19% and a return on equity of 43.59%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.45 billion. On average, analysts expect that argenex SE will post 28.05 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Royal Bank Of Canada boosted their target price on shares of argenex from $945.00 to $1,025.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Wells Fargo & Company lifted their price objective on shares of argenex from $1,260.00 to $1,291.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. Guggenheim assumed coverage on shares of argenex in a research report on Tuesday, August 4th. They set a "buy" rating and a $1,185.00 price objective for the company. Wall Street Zen upgraded argenex from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Finally, Wedbush raised their target price on argenex from $1,000.00 to $1,050.00 and gave the company an "outperform" rating in a report on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, argenex has a consensus rating of "Moderate Buy" and a consensus price target of $1,056.89.

argenex Profile

argenx NASDAQ: ARGX is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx's research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company's lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.

Want to see what other hedge funds are holding ARGX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for argenex SE (NASDAQ:ARGX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source