Iron Triangle Partners LP Sells 7,126 Shares of argenex SE $ARGX

Key Points

• Iron Triangle Partners LP reduced its stake in argenex SE by 20.4%, selling 7,126 shares and holding 27,874 shares, representing about 2.6% of their investment portfolio.
• Argenex SE recently reported earnings of $3.74 per share, exceeding expectations of $2.84, and had a net margin of 40.98% for the last quarter.
• Analysts have a consensus Buy rating for argenex, with price targets increased by various firms, forecasting a target price of $766.50.

Iron Triangle Partners LP lessened its holdings in argenex SE (NASDAQ:ARGX - Free Report) by 20.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,874 shares of the company's stock after selling 7,126 shares during the period. argenex makes up approximately 2.6% of Iron Triangle Partners LP's portfolio, making the stock its 19th biggest holding. Iron Triangle Partners LP's holdings in argenex were worth $16,498,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ARGX. Rakuten Securities Inc. boosted its stake in shares of argenex by 56.4% in the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock worth $36,000 after buying an additional 22 shares during the last quarter. WPG Advisers LLC purchased a new position in shares of argenex in the 1st quarter worth approximately $37,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of argenex in the 4th quarter worth approximately $38,000. Golden State Wealth Management LLC purchased a new position in shares of argenex in the 1st quarter worth approximately $44,000. Finally, Brooklyn Investment Group increased its position in argenex by 102.7% in the first quarter. Brooklyn Investment Group now owns 75 shares of the company's stock worth $44,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company's stock.

argenex Trading Down 0.9%

Shares of ARGX traded down $6.09 during trading hours on Tuesday, reaching $706.12. 306,150 shares of the company's stock traded hands, compared to its average volume of 374,658. The stock has a market cap of $43.21 billion, a PE ratio of 36.21, a price-to-earnings-growth ratio of 0.81 and a beta of 0.41. The firm's 50 day simple moving average is $614.60 and its 200-day simple moving average is $599.63. argenex SE has a 12 month low of $510.05 and a 12 month high of $716.62.

argenex (NASDAQ:ARGX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $3.74 earnings per share for the quarter, beating analysts' consensus estimates of $2.84 by $0.90. argenex had a return on equity of 21.06% and a net margin of 40.98%.The business had revenue of $866.79 million for the quarter, compared to the consensus estimate of $776.82 million. As a group, analysts expect that argenex SE will post 3.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised argenex from a "hold" rating to a "buy" rating in a research report on Tuesday, July 8th. Bank of America raised their price target on argenex from $880.00 to $887.00 and gave the stock a "buy" rating in a report on Tuesday. Oppenheimer raised their price target on argenex from $704.00 to $708.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Morgan Stanley raised their price target on argenex from $700.00 to $766.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Jefferies Financial Group set a $818.00 price target on argenex and gave the stock a "buy" rating in a report on Tuesday, August 26th. Two equities research 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 MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price 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.