Kazazian Asset Management LLC Buys New Stake in argenex SE (NASDAQ:ARGX)

Key Points

• Kazazian Asset Management LLC acquired a new stake in argenex SE, purchasing 380 shares valued at approximately $225,000 in the first quarter.
• Institutional investors now own 60.32% of argenex SE, with several hedge funds increasing their positions due to positive stock performance.
• argenex reported an earnings per share of $3.74 for the last quarter, surpassing analyst expectations and contributing to an average buy rating from 19 research analysts.

Kazazian Asset Management LLC bought a new stake in argenex SE (NASDAQ:ARGX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 380 shares of the company's stock, valued at approximately $225,000.

A number of other institutional investors have also recently modified their holdings of the business. GeoWealth Management LLC boosted its stake in shares of argenex by 56.3% in the fourth quarter. GeoWealth Management LLC now owns 50 shares of the company's stock valued at $31,000 after buying an additional 18 shares in the last quarter. Greenleaf Trust boosted its stake in shares of argenex by 3.5% in the first quarter. Greenleaf Trust now owns 624 shares of the company's stock valued at $369,000 after buying an additional 21 shares in the last quarter. Rakuten Securities Inc. boosted its stake in shares of argenex by 56.4% in the first quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock valued at $36,000 after buying an additional 22 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of argenex by 1.3% in the first quarter. Sequoia Financial Advisors LLC now owns 1,829 shares of the company's stock valued at $1,083,000 after buying an additional 24 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in shares of argenex by 0.6% in the first quarter. M&T Bank Corp now owns 4,296 shares of the company's stock valued at $2,542,000 after buying an additional 27 shares in the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenex Stock Up 2.5%

NASDAQ:ARGX traded up $16.52 during trading hours on Monday, reaching $690.32. 410,973 shares of the stock were exchanged, compared to its average volume of 446,291. The firm has a 50 day simple moving average of $573.16 and a 200-day simple moving average of $596.64. argenex SE has a 52 week low of $475.65 and a 52 week high of $691.02. The stock has a market capitalization of $42.25 billion, a P/E ratio of 35.40, a P/E/G ratio of 0.93 and a beta of 0.39.

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

Analyst Ratings Changes

A number of analysts recently weighed in on ARGX shares. Wells Fargo & Company lifted their price target on argenex from $741.00 to $756.00 and gave the company an "overweight" rating in a research note on Thursday. Citigroup reiterated a "buy" rating on shares of argenex in a research report on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft upgraded argenex from a "hold" rating to a "buy" rating in a research report on Tuesday, July 8th. Baird R W upgraded argenex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, JMP Securities set a $699.00 price objective on argenex in a research report on Wednesday, May 14th. Nineteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $746.81.

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.