Iron Triangle Partners LP Invests $21.53 Million in argenx SE (NASDAQ:ARGX)

Iron Triangle Partners LP acquired a new stake in argenx SE (NASDAQ:ARGX - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 35,000 shares of the company's stock, valued at approximately $21,525,000. argenx accounts for 2.4% of Iron Triangle Partners LP's portfolio, making the stock its 20th largest holding. Iron Triangle Partners LP owned 0.06% of argenx as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fulton Bank N.A. bought a new stake in shares of argenx during the fourth quarter valued at about $226,000. Assenagon Asset Management S.A. increased its holdings in argenx by 21.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 34,955 shares of the company's stock worth $21,497,000 after acquiring an additional 6,161 shares during the period. Park Avenue Securities LLC lifted its stake in argenx by 40.0% in the 4th quarter. Park Avenue Securities LLC now owns 1,695 shares of the company's stock worth $1,042,000 after purchasing an additional 484 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in argenx by 85.5% in the 4th quarter. Ritholtz Wealth Management now owns 898 shares of the company's stock valued at $552,000 after purchasing an additional 414 shares during the period. Finally, Aaron Wealth Advisors LLC grew its position in shares of argenx by 10.1% during the 4th quarter. Aaron Wealth Advisors LLC now owns 489 shares of the company's stock valued at $301,000 after purchasing an additional 45 shares in the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenx Trading Down 1.9%

argenx stock traded down $10.20 on Wednesday, hitting $532.27. 486,197 shares of the stock traded hands, compared to its average volume of 321,553. The business's fifty day simple moving average is $592.11 and its 200 day simple moving average is $612.79. The firm has a market cap of $32.50 billion, a P/E ratio of -604.85 and a beta of 0.57. argenx SE has a 1 year low of $356.38 and a 1 year high of $678.21.

argenx (NASDAQ:ARGX - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.32 by $0.26. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $748.34 million. As a group, analysts predict that argenx SE will post 3.13 earnings per share for the current year.

Analysts Set New Price Targets

ARGX has been the subject of several research analyst reports. Truist Financial reissued a "buy" rating and set a $700.00 price objective (up previously from $660.00) on shares of argenx in a research note on Tuesday, January 14th. Sanford C. Bernstein raised argenx from a "market perform" rating to an "outperform" rating in a report on Monday, March 17th. William Blair restated an "outperform" rating on shares of argenx in a research report on Friday, February 28th. Citigroup reiterated an "outperform" rating on shares of argenx in a research report on Wednesday. Finally, Oppenheimer increased their price target on shares of argenx from $704.00 to $708.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Two research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $698.11.

argenx 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.