Iron Triangle Partners LP Takes Position in argenx SE (NASDAQ:ARGX)

Iron Triangle Partners LP purchased a new stake in argenx SE (NASDAQ:ARGX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 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 position.

Other hedge funds have also added to or reduced their stakes in the company. GeoWealth Management LLC increased its stake in shares of argenx by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock worth $31,000 after purchasing an additional 18 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of argenx by 5.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 380 shares of the company’s stock worth $234,000 after buying an additional 20 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of argenx by 6.2% in the fourth quarter. SG Americas Securities LLC now owns 358 shares of the company’s stock valued at $220,000 after acquiring an additional 21 shares during the period. Farther Finance Advisors LLC grew its stake in shares of argenx by 38.2% in the fourth quarter. Farther Finance Advisors LLC now owns 76 shares of the company’s stock valued at $47,000 after acquiring an additional 21 shares in the last quarter. Finally, Dynasty Wealth Management LLC increased its position in argenx by 3.4% during the fourth quarter. Dynasty Wealth Management LLC now owns 677 shares of the company’s stock worth $416,000 after acquiring an additional 22 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on ARGX shares. Robert W. Baird boosted their price objective on shares of argenx from $650.00 to $680.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. William Blair reissued an “outperform” rating on shares of argenx in a research report on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $720.00 price objective on shares of argenx in a report on Tuesday, April 8th. Truist Financial reissued a “buy” rating and set a $700.00 target price (up from $660.00) on shares of argenx in a report on Tuesday, January 14th. Finally, Guggenheim dropped their price target on argenx from $1,100.00 to $1,065.00 and set a “buy” rating for the company in a research note on Friday. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $697.94.

argenx Trading Down 3.4 %

argenx stock opened at $549.65 on Friday. The company has a market capitalization of $33.56 billion, a PE ratio of -624.60 and a beta of 0.57. The stock has a 50-day moving average price of $596.27 and a two-hundred day moving average price of $613.38. argenx SE has a 12 month low of $352.77 and a 12 month high of $678.21.

argenx (NASDAQ:ARGX) last posted its earnings results on Thursday, May 8th. The company reported $2.58 EPS for the quarter, topping the consensus estimate 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 for 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 fiscal year.

argenx 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.