Squarepoint Ops LLC Has $54.18 Million Stock Position in argenex SE $ARGX

Key Points

• Squarepoint Ops LLC increased its argenx position by 314.8% in the second quarter, holding 58,400 shares valued at approximately $54.18 million. Hedge funds and institutional investors collectively own 60.32% of ARGX.
• Analyst sentiment remains positive, with argenx receiving a consensus “Moderate Buy” rating and an average price target of $1,158.61; recent target increases range from $932 to $1,202.
• argenx reported quarterly EPS of $7.32, beating estimates of $5.86, while revenue of $1.54 billion exceeded expectations. The company’s stock opened at $1,007.07, near its 12-month high of $1,072.75.

Squarepoint Ops LLC grew its holdings in argenex SE (NASDAQ:ARGX - Free Report) by 314.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,400 shares of the company's stock after purchasing an additional 44,321 shares during the period. Squarepoint Ops LLC owned about 0.09% of argenex worth $54,182,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ARGX. Sands Capital Management LLC raised its holdings in shares of argenex by 2,046.6% during the fourth quarter. Sands Capital Management LLC now owns 356,870 shares of the company's stock worth $300,110,000 after acquiring an additional 340,245 shares in the last quarter. Invesco Ltd. grew its stake in argenex by 390.4% in the fourth quarter. Invesco Ltd. now owns 416,408 shares of the company's stock valued at $350,178,000 after purchasing an additional 331,489 shares in the last quarter. Wellington Management Group LLP increased its position in argenex by 80.1% in the 3rd quarter. Wellington Management Group LLP now owns 729,986 shares of the company's stock worth $538,408,000 after purchasing an additional 324,653 shares during the last quarter. Two Sigma Investments LP raised its stake in shares of argenex by 570.3% during the 3rd quarter. Two Sigma Investments LP now owns 294,160 shares of the company's stock worth $216,961,000 after purchasing an additional 250,278 shares in the last quarter. Finally, Corient Private Wealth LLC raised its stake in shares of argenex by 12,441.8% during the 4th quarter. Corient Private Wealth LLC now owns 246,572 shares of the company's stock worth $207,355,000 after purchasing an additional 244,606 shares in the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ARGX shares. HC Wainwright lifted their price objective on shares of argenex from $940.00 to $1,202.00 and gave the company a "buy" rating in a research note on Tuesday, August 18th. Robert W. Baird raised their target price on argenex from $867.00 to $932.00 and gave the company a "neutral" rating in a report on Monday, July 27th. Weiss Ratings downgraded argenex from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, July 23rd. Royal Bank Of Canada increased their price objective on argenex from $1,025.00 to $1,100.00 and gave the company an "outperform" rating in a report on Tuesday, August 18th. Finally, Guggenheim started coverage on argenex in a report on Tuesday, August 4th. They issued a "buy" rating and a $1,185.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, argenex presently has an average rating of "Moderate Buy" and a consensus price target of $1,158.61.

argenex Stock Performance

NASDAQ ARGX opened at $1,007.07 on Wednesday. argenex SE has a twelve month low of $661.85 and a twelve month high of $1,072.75. The stock has a market cap of $63.00 billion, a PE ratio of 38.67, a PEG ratio of 1.07 and a beta of 0.47. The firm has a 50-day simple moving average of $930.46 and a 200 day simple moving average of $844.09.

argenex (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.86 by $1.46. argenex had a net margin of 32.19% and a return on equity of 43.59%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.45 billion. Research analysts forecast that argenex SE will post 29.13 earnings per share for the current fiscal year.

About argenex

argenx SE is a global biopharmaceutical company focused on developing and commercializing antibody-based medicines for patients with severe autoimmune diseases. The company's research is centered on its antibody engineering technologies, including the SIMPLE Antibody platform and NHance technology, which are designed to identify and enhance therapeutic antibodies.

argenx's leading product is VYVGART (efgartigimod alfa), an antibody fragment that targets the neonatal Fc receptor, or FcRn, to reduce disease-causing immunoglobulin G antibodies.

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