Jump Financial LLC Invests $10.65 Million in argenx SE $ARGX

Key Points

• Jump Financial LLC has invested approximately $10.65 million in argenex SE by purchasing 18,000 shares during the first quarter of the year.
• Recent analyst reports have set a target price for argenex, with estimates ranging from $699.00 to $830.00, and a consensus rating of "Buy" from multiple brokerages.
• argenex SE reported a quarterly earnings per share of $3.74, exceeding analysts' expectations of $2.84, with revenue also surpassing projections at $866.79 million.

Jump Financial LLC purchased a new position in shares of argenx SE (NASDAQ:ARGX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 18,000 shares of the company's stock, valued at approximately $10,654,000.

Other institutional investors also recently bought and sold shares of the company. GeoWealth Management LLC raised its position in argenx by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company's stock worth $31,000 after buying an additional 18 shares during the last quarter. Rakuten Securities Inc. increased its holdings in shares of argenx by 56.4% during the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock valued at $36,000 after purchasing an additional 22 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of argenx during the 4th quarter valued at approximately $38,000. Golden State Wealth Management LLC purchased a new position in shares of argenx during the 1st quarter valued at approximately $44,000. Finally, Brooklyn Investment Group increased its holdings in shares of argenx by 102.7% during the 1st quarter. Brooklyn Investment Group now owns 75 shares of the company's stock valued at $44,000 after purchasing an additional 38 shares in the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of argenx from $775.00 to $830.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Morgan Stanley boosted their price objective on shares of argenx from $700.00 to $766.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Citigroup reiterated a "buy" rating on shares of argenx in a research note on Wednesday, May 21st. Baird R W raised argenx from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, Oppenheimer boosted their price objective on argenx from $704.00 to $708.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Two analysts have rated the stock with a Strong Buy rating and twenty have issued a Buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $766.50.

argenx Stock Down 0.5%

Shares of NASDAQ ARGX traded down $3.89 during mid-day trading on Thursday, hitting $704.07. 319,216 shares of the company were exchanged, compared to its average volume of 375,359. argenx SE has a 1-year low of $510.05 and a 1-year high of $710.00. The stock has a 50 day simple moving average of $604.45 and a 200-day simple moving average of $598.90. The firm has a market cap of $43.09 billion, a price-to-earnings ratio of 36.11, a price-to-earnings-growth ratio of 0.81 and a beta of 0.39.

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

argenx 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.