4,000 Shares in argenex SE $ARGX Acquired by Panoramic Capital LLC

Key Points

• Panoramic Capital LLC has acquired a new stake in argenex SE, purchasing 4,000 shares valued at approximately $2.37 million, making it the fund's 11th largest holding.
• Multiple hedge funds, including NewEdge Advisors and Millennium Management, have significantly increased their stakes in argenex, contributing to over 60% institutional ownership of the company.
• Analysts are optimistic about argenex's future performance, with a consensus Buy rating and an average price target of $772.84, following a strong quarterly earnings report.

Panoramic Capital LLC acquired a new stake in shares of argenex SE (NASDAQ:ARGX - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,000 shares of the company's stock, valued at approximately $2,367,000. argenex makes up about 2.5% of Panoramic Capital LLC's holdings, making the stock its 11th biggest position.

Several other institutional investors have also made changes to their positions in the company. RTW Investments LP raised its holdings in shares of argenex by 2.9% during the fourth quarter. RTW Investments LP now owns 673,497 shares of the company's stock valued at $414,201,000 after acquiring an additional 19,067 shares during the period. Lord Abbett & CO. LLC grew its position in argenex by 33.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 274,700 shares of the company's stock worth $162,585,000 after purchasing an additional 68,498 shares in the last quarter. Millennium Management LLC grew its position in argenex by 316.9% during the 1st 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 in the last quarter. Allspring Global Investments Holdings LLC raised its stake in argenex by 22.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 176,450 shares of the company's stock valued at $100,063,000 after purchasing an additional 32,239 shares during the period. Finally, Braidwell LP lifted its holdings in shares of argenex by 99.2% in the first quarter. Braidwell LP now owns 160,849 shares of the company's stock valued at $95,201,000 after purchasing an additional 80,083 shares in the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenex Price Performance

NASDAQ:ARGX traded up $1.27 during mid-day trading on Thursday, reaching $764.16. The stock had a trading volume of 367,572 shares, compared to its average volume of 376,749. The stock has a market cap of $46.77 billion, a P/E ratio of 39.19, a PEG ratio of 0.82 and a beta of 0.41. The business's 50 day moving average is $641.07 and its 200 day moving average is $605.15. argenex SE has a fifty-two week low of $510.05 and a fifty-two week high of $779.03.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Piper Sandler lifted their price target on argenex from $750.00 to $820.00 and gave the company an "overweight" rating in a report on Tuesday, August 26th. Guggenheim upped their target price on argenex from $1,060.00 to $1,070.00 and gave the company a "buy" rating in a report on Friday, August 1st. HC Wainwright increased their price target on shares of argenex from $720.00 to $774.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Wedbush reaffirmed an "outperform" rating and set a $800.00 price objective on shares of argenex in a research report on Monday, August 25th. Finally, Wall Street Zen upgraded shares of argenex from a "hold" rating to a "buy" rating in a research note on Saturday, September 6th. Two investment 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. According to data from MarketBeat, argenex has an average rating of "Buy" and an average price target of $772.84.

argenex 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.