Thoroughbred Financial Services LLC Has $1.05 Million Position in argenex SE (NASDAQ:ARGX)

Key Points

• Thoroughbred Financial Services LLC increased its holdings in argenex SE by 47.3%, owning a total of 1,779 shares worth approximately $1,052,000.
• Several other hedge funds have significantly boosted their stakes in argenex, with GAMMA Investing LLC increasing its position by an extraordinary 53,684.9%, resulting in ownership of 135,538 shares valued at $802.2 million.
• Wall Street analysts are optimistic about argenex, with eighteen analysts rating the stock as a "buy" and price targets suggesting potential upside, including an increase to $1,070 by Guggenheim.

Thoroughbred Financial Services LLC increased its position in shares of argenex SE (NASDAQ:ARGX - Free Report) by 47.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,779 shares of the company's stock after buying an additional 571 shares during the quarter. Thoroughbred Financial Services LLC's holdings in argenex were worth $1,052,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Point72 Asset Management L.P. bought a new position in argenex in the 4th quarter valued at about $91,013,000. GAMMA Investing LLC grew its position in shares of argenex by 53,684.9% in the first quarter. GAMMA Investing LLC now owns 135,538 shares of the company's stock valued at $802,200,000 after purchasing an additional 135,286 shares during the last quarter. Marshall Wace LLP increased its stake in shares of argenex by 184.7% during the fourth quarter. Marshall Wace LLP now owns 191,553 shares of the company's stock worth $117,805,000 after purchasing an additional 124,271 shares during the period. Capital World Investors lifted its holdings in argenex by 5.1% during the 4th quarter. Capital World Investors now owns 1,786,936 shares of the company's stock worth $1,099,002,000 after purchasing an additional 86,687 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in argenex by 215.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 110,390 shares of the company's stock valued at $65,336,000 after purchasing an additional 75,435 shares during the period. 60.32% of the stock is currently owned by institutional investors.

argenex Stock Down 2.3%

Shares of NASDAQ ARGX traded down $15.27 during midday trading on Monday, reaching $646.56. 186,901 shares of the company were exchanged, compared to its average volume of 373,578. The stock's 50-day moving average price is $580.54 and its 200-day moving average price is $597.36. The stock has a market cap of $39.57 billion, a P/E ratio of 33.07, a PEG ratio of 0.76 and a beta of 0.39. argenex SE has a one year low of $510.05 and a one year high of $696.21.

argenex (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $866.79 million for the quarter, compared to analyst estimates of $776.82 million. argenex had a return on equity of 21.06% and a net margin of 40.98%. On average, equities research analysts anticipate that argenex SE will post 3.13 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ARGX shares. 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 report on Friday, August 1st. Oppenheimer raised their target price on shares of argenex from $704.00 to $708.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Robert W. Baird upgraded shares of argenex from a "neutral" rating to an "outperform" rating and set a $680.00 price target for the company in a research report on Tuesday, May 13th. Wells Fargo & Company increased their price target on argenex from $741.00 to $756.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, Morgan Stanley raised their price objective on argenex from $700.00 to $766.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Eighteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $746.81.

About argenex

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.