Summit Securities Group LLC Makes New $888,000 Investment in argenex SE $ARGX

Key Points

• Summit Securities Group LLC purchased 1,501 shares of argenex SE, valued at approximately $888,000, during the 1st quarter, indicating growing institutional interest in the company.
• argenex reported a strong earnings quarter with an EPS of $3.74, surpassing analysts' expectations of $2.84, alongside a revenue of $866.79 million.
• Analysts are optimistic about argenex, with eighteen analysts rating the stock as "buy" and a price target average of $746.81.

Summit Securities Group LLC bought a new position in argenex SE (NASDAQ:ARGX - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 1,501 shares of the company's stock, valued at approximately $888,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. GeoWealth Management LLC boosted its position in argenex by 56.3% in the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company's stock valued at $31,000 after buying an additional 18 shares during the period. Rakuten Securities Inc. grew its stake in argenex by 56.4% during the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock worth $36,000 after buying an additional 22 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of argenex during the fourth quarter valued at about $38,000. Golden State Wealth Management LLC acquired a new position in argenex during the 1st quarter valued at approximately $44,000. Finally, Raiffeisen Bank International AG purchased a new position in argenex in the 1st quarter worth $76,000. Hedge funds and other institutional investors own 60.32% of the company's stock.

argenex Price Performance

Shares of NASDAQ ARGX traded up $2.76 during midday trading on Thursday, hitting $663.73. The company's stock had a trading volume of 281,440 shares, compared to its average volume of 375,114. The firm has a market capitalization of $40.62 billion, a price-to-earnings ratio of 34.04, a price-to-earnings-growth ratio of 0.76 and a beta of 0.39. The business's fifty day simple moving average is $592.00 and its two-hundred day simple moving average is $597.99. argenex SE has a 1 year low of $510.05 and a 1 year high of $696.21.

argenex (NASDAQ:ARGX - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $3.74 earnings per share (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 analyst estimates of $776.82 million. argenex had a net margin of 40.98% and a return on equity of 21.06%. Analysts anticipate that argenex SE will post 3.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wedbush restated an "outperform" rating and issued a $715.00 target price on shares of argenex in a research note on Monday, July 21st. Baird R W upgraded argenex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. JMP Securities set a $699.00 price target on argenex in a research report on Wednesday, May 14th. Robert W. Baird raised shares of argenex from a "neutral" rating to an "outperform" rating and set a $680.00 target price on the stock in a research note on Tuesday, May 13th. Finally, Oppenheimer upped their price objective on argenex from $704.00 to $708.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating and eighteen have issued a Buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price 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.