Tidal Investments LLC Grows Holdings in argenex SE $ARGX

Key Points

• Tidal Investments nearly doubled its argenex stake in the second quarter, increasing holdings by 97.8% to 2,362 shares valued at approximately $2.19 million. Institutional investors collectively own 60.32% of ARGX.
• argenex reported quarterly EPS of $7.32, beating consensus estimates of $5.86, while revenue reached $1.54 billion versus expectations of $1.45 billion.
• Wall Street remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $1,158.61, compared with the stock’s reported price of $984.69.

Tidal Investments LLC lifted its position in argenex SE (NASDAQ:ARGX - Free Report) by 97.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,362 shares of the company's stock after purchasing an additional 1,168 shares during the period. Tidal Investments LLC's holdings in argenex were worth $2,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of ARGX. Eastern Bank purchased a new position in shares of argenex in the second quarter valued at about $32,000. Whipplewood Advisors LLC purchased a new position in argenex in the 1st quarter worth approximately $28,000. Axiom Investment Management LLC purchased a new position in argenex in the 1st quarter worth approximately $50,000. WPG Advisers LLC boosted its stake in argenex by 17.8% in the 1st quarter. WPG Advisers LLC now owns 86 shares of the company's stock worth $63,000 after purchasing an additional 13 shares during the period. Finally, TD Private Client Wealth LLC boosted its stake in argenex by 29.4% in the 4th quarter. TD Private Client Wealth LLC now owns 110 shares of the company's stock worth $93,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 60.32% of the company's stock.

argenex Stock Performance

argenex stock opened at $984.69 on Thursday. The company has a market capitalization of $61.60 billion, a PE ratio of 37.81, a P/E/G ratio of 1.01 and a beta of 0.47. The company has a 50 day moving average price of $938.16 and a 200-day moving average price of $850.98. argenex SE has a fifty-two week low of $661.85 and a fifty-two week high of $1,072.75.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wells Fargo & Company boosted their target price on argenex from $1,350.00 to $1,415.00 and gave the company an "overweight" rating in a research report on Wednesday, August 26th. Robert W. Baird raised their price target on argenex from $867.00 to $932.00 and gave the stock a "neutral" rating in a research note on Monday, July 27th. Citizens Jmp boosted their price objective on argenex from $932.00 to $1,200.00 and gave the company a "market outperform" rating in a report on Tuesday, August 18th. Truist Financial boosted their price objective on argenex from $1,030.00 to $1,095.00 and gave the company a "buy" rating in a report on Tuesday, August 18th. Finally, Guggenheim started coverage on argenex in a research report on Tuesday, August 4th. They issued a "buy" rating and a $1,185.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,158.61.

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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