HighVista Strategies LLC Grows Stock Holdings in argenex SE $ARGX

HighVista Strategies LLC lifted its holdings in argenex SE (NASDAQ:ARGX) by 68.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 4,068 shares of the company’s stock after buying an additional 1,653 shares during the quarter. HighVista Strategies LLC’s holdings in argenex were worth $3,000,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameriflex Group Inc. purchased a new stake in argenex during the 3rd quarter worth $32,000. Bessemer Group Inc. lifted its stake in shares of argenex by 276.5% during the third quarter. Bessemer Group Inc. now owns 64 shares of the company’s stock worth $47,000 after purchasing an additional 47 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of argenex in the third quarter valued at about $50,000. Rossby Financial LCC grew its stake in shares of argenex by 115.2% in the third quarter. Rossby Financial LCC now owns 71 shares of the company’s stock valued at $54,000 after buying an additional 38 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in shares of argenex by 750.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 85 shares of the company’s stock valued at $63,000 after buying an additional 75 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenex Stock Down 1.2%

Shares of argenex stock opened at $700.45 on Monday. argenex SE has a fifty-two week low of $510.05 and a fifty-two week high of $934.62. The firm has a market cap of $43.34 billion, a P/E ratio of 35.88, a P/E/G ratio of 1.16 and a beta of 0.38. The business has a 50-day moving average price of $804.00 and a 200 day moving average price of $817.49.

argenex (NASDAQ:ARGX) last released its quarterly earnings data on Thursday, February 26th. The company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates of $6.05 by $1.97. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. argenex had a net margin of 30.42% and a return on equity of 38.51%. As a group, equities research analysts anticipate that argenex SE will post 3.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ARGX shares. JPMorgan Chase & Co. upped their price target on argenex from $925.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Monday, December 8th. Deutsche Bank Aktiengesellschaft raised shares of argenex from a “hold” rating to a “buy” rating in a report on Tuesday, March 10th. Wedbush reiterated an “outperform” rating and issued a $1,000.00 price objective on shares of argenex in a report on Monday, March 9th. Truist Financial upped their price objective on shares of argenex from $950.00 to $1,030.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Finally, Wells Fargo & Company dropped their target price on argenex from $1,317.00 to $1,247.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $999.22.

About argenex

argenx (NASDAQ: ARGX) is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx’s research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company’s lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.