Capital World Investors Buys 8,422 Shares of argenex SE $ARGX

Key Points

• Capital World Investors slightly increased its stake in argenex to 1,959,504 shares (about 3.18% of the company), adding 8,422 shares in Q3 for a holding worth roughly $1.445 billion.
• Several large institutions (Adage, Franklin Resources, Balyasny, Hudson Bay, Lazard) materially boosted or initiated positions in argenex, leaving institutional ownership at about 60.32%, signaling strong institutional interest.
• Analysts maintain a consensus rating of Moderate Buy with an average price target of $999.22, and argenex recently reported an earnings beat (Q EPS $8.02 vs. $6.05 expected) on $1.32 billion revenue.

Capital World Investors increased its holdings in shares of argenex SE (NASDAQ:ARGX - Free Report) by 0.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,959,504 shares of the company's stock after acquiring an additional 8,422 shares during the quarter. Capital World Investors owned about 3.18% of argenex worth $1,445,113,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Adage Capital Partners GP L.L.C. raised its position in shares of argenex by 114.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company's stock valued at $163,775,000 after buying an additional 158,476 shares in the last quarter. Franklin Resources Inc. boosted its position in argenex by 103.9% during the second quarter. Franklin Resources Inc. now owns 279,803 shares of the company's stock valued at $154,233,000 after acquiring an additional 142,606 shares during the last quarter. Balyasny Asset Management L.P. grew its position in shares of argenex by 826.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 89,296 shares of the company's stock worth $49,222,000 after buying an additional 79,659 shares during the period. Hudson Bay Capital Management LP bought a new stake in argenex in the 2nd quarter valued at about $37,441,000. Finally, Lazard Asset Management LLC increased its stake in argenex by 81.5% during the 2nd quarter. Lazard Asset Management LLC now owns 127,488 shares of the company's stock valued at $70,272,000 after purchasing an additional 57,238 shares in the last quarter. 60.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on ARGX. Citigroup cut their price objective on shares of argenex from $1,124.00 to $1,091.00 and set a "buy" rating on the stock in a report on Thursday, January 8th. Zacks Research upgraded argenex from a "strong sell" rating to a "hold" rating in a research note on Friday, February 20th. Weiss Ratings restated a "hold (c)" rating on shares of argenex in a research note on Wednesday, January 21st. Wolfe Research reissued a "peer perform" rating on shares of argenex in a report on Monday, November 24th. Finally, DZ Bank raised argenex to a "strong-buy" rating in a report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $999.22.

argenex Trading Up 0.3%

Shares of NASDAQ ARGX opened at $742.79 on Wednesday. The business has a 50-day moving average of $811.69 and a 200-day moving average of $817.18. The firm has a market capitalization of $45.96 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 1.22 and a beta of 0.38. argenex SE has a 12 month low of $510.05 and a 12 month high of $934.62.

argenex (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported $8.02 EPS for the quarter, topping analysts' consensus estimates of $6.05 by $1.97. The business had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.30 billion. argenex had a net margin of 30.42% and a return on equity of 38.51%. On average, analysts predict that argenex SE will post 3.13 earnings per share for the current year.

argenex Company 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.