R Squared Ltd Purchases New Stake in argenex SE (NASDAQ:ARGX)

Key Points

• R Squared Ltd has made a new investment in argenex SE, acquiring 1,340 shares valued at approximately $793,000, which represents 0.8% of their investment portfolio.
• Institutional investors collectively own about 60.32% of argenex's stock, with notable increases in stakes from multiple firms during the first quarter.
• argenex recently reported a significant earnings performance, with $3.74 earnings per share for the last quarter, exceeding analyst expectations by $0.90.

R Squared Ltd purchased a new stake in argenex SE (NASDAQ:ARGX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,340 shares of the company's stock, valued at approximately $793,000. argenex accounts for about 0.8% of R Squared Ltd's holdings, making the stock its 16th biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kazazian Asset Management LLC acquired a new stake in shares of argenex in the 1st quarter valued at $225,000. IFG Advisory LLC acquired a new stake in shares of argenex in the 1st quarter valued at $266,000. Blueshift Asset Management LLC acquired a new stake in shares of argenex in the 1st quarter valued at $278,000. Natixis Advisors LLC boosted its stake in shares of argenex by 33.4% in the 1st quarter. Natixis Advisors LLC now owns 21,236 shares of the company's stock valued at $12,569,000 after purchasing an additional 5,313 shares in the last quarter. Finally, XTX Topco Ltd boosted its stake in shares of argenex by 171.7% in the 1st quarter. XTX Topco Ltd now owns 5,543 shares of the company's stock valued at $3,281,000 after purchasing an additional 3,503 shares in the last quarter. Institutional investors own 60.32% of the company's stock.

Analyst Ratings Changes

ARGX has been the topic of several recent analyst reports. HC Wainwright boosted their target price on shares of argenex from $720.00 to $774.00 and gave the company a "buy" rating in a research note on Friday. Morgan Stanley boosted their target price on shares of argenex from $700.00 to $766.00 and gave the company an "overweight" rating in a research note on Friday. Robert W. Baird raised argenex from a "neutral" rating to an "outperform" rating and set a $680.00 price target for the company in a report on Tuesday, May 13th. JMP Securities set a $699.00 price target on argenex in a report on Wednesday, May 14th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $715.00 price target on shares of argenex in a report on Monday, July 21st. Nineteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $746.81.

argenex Price Performance

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. argenex SE has a twelve month low of $475.65 and a twelve month high of $691.02. The firm has a 50 day moving average of $573.16 and a 200 day moving average of $596.64. The stock has a market cap of $42.25 billion, a PE ratio of 35.40, a PEG ratio of 0.93 and a beta of 0.39.

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, topping 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 firm had revenue of $866.79 million during the quarter, compared to the consensus estimate of $776.82 million. Equities research analysts anticipate that argenex SE will post 3.13 earnings per share for the current year.

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.