Gunderson Capital Management LLC Purchases 6,078 Shares of argenex SE $ARGX

Key Points

• Gunderson Capital Management initiated a 6,078-share position in argenex valued at approximately $5.8 million, making ARGX 1.6% of its portfolio. Institutional investors collectively own 60.32% of the stock.
• argenex reported quarterly earnings of $7.32 per share and revenue of $1.54 billion, beating analyst estimates of $5.86 per share and $1.45 billion, respectively.
• Analysts maintain a generally bullish outlook, with a “Moderate Buy” consensus and an average price target of $1,151.95, versus a recent share price of $849.50.

Gunderson Capital Management LLC purchased a new stake in argenex SE (NASDAQ:ARGX - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,078 shares of the company's stock, valued at approximately $5,828,000. argenex makes up 1.6% of Gunderson Capital Management LLC's investment portfolio, making the stock its 26th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Janus Henderson Group PLC raised its position in argenex by 3.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,541,732 shares of the company's stock worth $1,847,592,000 after purchasing an additional 83,568 shares during the period. First Trust Advisors LP boosted its position in argenex by 98.9% during the first quarter. First Trust Advisors LP now owns 107,195 shares of the company's stock valued at $78,279,000 after buying an additional 53,293 shares during the period. Squarepoint Ops LLC grew its stake in shares of argenex by 314.8% during the second quarter. Squarepoint Ops LLC now owns 58,400 shares of the company's stock valued at $54,182,000 after buying an additional 44,321 shares during the last quarter. Peregrine Capital Management LLC bought a new position in shares of argenex during the second quarter valued at about $27,584,000. Finally, Hsbc Holdings PLC purchased a new position in shares of argenex in the first quarter worth about $14,882,000. 60.32% of the stock is currently owned by institutional investors.

argenex Stock Performance

Shares of argenex stock traded up $31.20 during midday trading on Thursday, reaching $849.50. 211,627 shares of the company's stock traded hands, compared to its average volume of 345,264. The stock has a 50 day moving average of $957.73 and a 200-day moving average of $880.07. argenex SE has a 12 month low of $661.85 and a 12 month high of $1,072.75. The company has a market cap of $53.15 billion, a PE ratio of 32.61, a price-to-earnings-growth ratio of 0.74 and a beta of 0.44.

argenex (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, beating the consensus estimate of $5.86 by $1.46. The business had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.45 billion. argenex had a net margin of 32.19% and a return on equity of 43.59%. On average, equities analysts anticipate that argenex SE will post 28.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ARGX has been the subject of several recent research reports. Bank of America boosted their price objective on argenex from $1,016.00 to $1,088.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. Oppenheimer cut their price target on shares of argenex from $1,100.00 to $1,038.00 and set an "outperform" rating on the stock in a report on Monday. Truist Financial boosted their price objective on shares of argenex from $1,030.00 to $1,095.00 and gave the company a "buy" rating in a research report on Tuesday, August 18th. Piper Sandler upped their price objective on shares of argenex from $1,075.00 to $1,215.00 and gave the company an "overweight" rating in a research note on Monday, August 17th. Finally, Citigroup increased their target price on shares of argenex from $1,152.00 to $1,182.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, argenex has an average rating of "Moderate Buy" and an average target price of $1,151.95.

About argenex

argenx SE NASDAQ: ARGX is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company combines antibody engineering technologies with disease biology to discover medicines that target the underlying mechanisms of immune-mediated disorders.

argenx's leading product is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo in the United States. The therapies are designed to reduce disease-causing immunoglobulin G (IgG) antibodies by targeting the neonatal Fc receptor (FcRn).

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