Jones Financial Companies Lllp Has $28.23 Million Stock Position in argenex SE $ARGX

Key Points

• Jones Financial Companies Lllp significantly increased its stake in argenex SE by 71,082.1%, holding about 0.08% of the company worth $28.2 million as of the latest SEC filing.
• Multiple institutional investors also boosted their positions, with Millennium Management LLC and GAMMA Investing LLC increasing their stakes by 316.9% and 53,684.9% respectively during the same quarter.
• Analysts have a strong positive outlook on argenex, with a consensus rating of "Buy" and an average price target of $772.84, following Bank of America's price target increase from $880.00 to $887.00.

Jones Financial Companies Lllp increased its position in argenex SE (NASDAQ:ARGX - Free Report) by 71,082.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,692 shares of the company's stock after purchasing an additional 47,625 shares during the quarter. Jones Financial Companies Lllp owned approximately 0.08% of argenex worth $28,227,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ARGX. Millennium Management LLC lifted its position in argenex by 316.9% in the first quarter. Millennium Management LLC now owns 268,604 shares of the company's stock worth $158,977,000 after purchasing an additional 204,180 shares during the period. Point72 Asset Management L.P. bought a new position in argenex in the fourth quarter worth $91,013,000. GAMMA Investing LLC lifted its position in argenex by 53,684.9% in the first quarter. GAMMA Investing LLC now owns 135,538 shares of the company's stock worth $802,200,000 after purchasing an additional 135,286 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of argenex by 1,203.4% during the first quarter. BNP Paribas Financial Markets now owns 133,359 shares of the company's stock valued at $78,931,000 after acquiring an additional 123,127 shares during the period. Finally, Braidwell LP lifted its holdings in shares of argenex by 99.2% during the first quarter. Braidwell LP now owns 160,849 shares of the company's stock valued at $95,201,000 after acquiring an additional 80,083 shares during the period. 60.32% of the stock is owned by institutional investors.

argenex Stock Down 0.0%

ARGX stock traded down $0.03 during midday trading on Friday, reaching $763.49. The stock had a trading volume of 149,996 shares, compared to its average volume of 375,398. The business has a fifty day simple moving average of $645.47 and a two-hundred day simple moving average of $606.10. The firm has a market cap of $46.73 billion, a price-to-earnings ratio of 39.13, a PEG ratio of 0.81 and a beta of 0.41. argenex SE has a twelve month low of $510.05 and a twelve month high of $779.03.

argenex (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $3.74 EPS for the quarter, topping analysts' consensus estimates of $2.84 by $0.90. The firm had revenue of $866.79 million during the quarter, compared to analyst estimates of $776.82 million. argenex had a return on equity of 21.06% and a net margin of 40.98%. On average, equities analysts predict that argenex SE will post 3.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ARGX. Jefferies Financial Group set a $818.00 price objective on argenex and gave the company a "buy" rating in a report on Tuesday, August 26th. Deutsche Bank Aktiengesellschaft cut argenex from a "buy" rating to a "hold" rating in a report on Thursday. Guggenheim lifted their price objective on argenex from $1,060.00 to $1,070.00 and gave the company a "buy" rating in a report on Friday, August 1st. Wells Fargo & Company lifted their price objective on argenex from $741.00 to $756.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Finally, Bank of America lifted their price objective on argenex from $880.00 to $887.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $772.84.

argenex Company Profile

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.