Summit Partners Public Asset Management LLC Makes New $18.21 Million Investment in argenx SE (NASDAQ:ARGX)

Summit Partners Public Asset Management LLC bought a new position in shares of argenx SE (NASDAQ:ARGX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 29,611 shares of the company's stock, valued at approximately $18,211,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. GeoWealth Management LLC grew its stake in shares of argenx by 56.3% in the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company's stock worth $31,000 after buying an additional 18 shares during the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of argenx in the 4th quarter worth approximately $37,000. Global Retirement Partners LLC grew its stake in shares of argenx by 369.2% in the 4th quarter. Global Retirement Partners LLC now owns 61 shares of the company's stock worth $38,000 after buying an additional 48 shares during the last quarter. FIL Ltd purchased a new stake in shares of argenx in the 4th quarter worth approximately $38,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of argenx in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 60.32% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ARGX. Guggenheim cut their price target on argenx from $1,100.00 to $1,065.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Robert W. Baird upgraded argenx from a "neutral" rating to an "outperform" rating and set a $680.00 price target on the stock in a research note on Tuesday. William Blair restated an "outperform" rating on shares of argenx in a research note on Friday, February 28th. Sanford C. Bernstein upgraded argenx from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Finally, Oppenheimer increased their target price on argenx from $704.00 to $708.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $698.11.

argenx Price Performance

NASDAQ ARGX opened at $565.63 on Friday. The business's fifty day moving average price is $591.63 and its 200-day moving average price is $612.92. The stock has a market capitalization of $34.54 billion, a price-to-earnings ratio of -642.76 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 EPS for the quarter, topping analysts' consensus estimates of $2.32 by $0.26. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. The company had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $748.34 million. Equities research analysts anticipate that argenx SE will post 3.13 EPS for the current year.

About argenx

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.

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