SteelPeak Wealth LLC Invests $393,000 in argenex SE $ARGX

SteelPeak Wealth LLC acquired a new stake in shares of argenex SE (NASDAQ:ARGX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 712 shares of the company’s stock, valued at approximately $393,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ARGX. Greenleaf Trust raised its stake in argenex by 3.5% during the 1st quarter. Greenleaf Trust now owns 624 shares of the company’s stock valued at $369,000 after acquiring an additional 21 shares in the last quarter. Rakuten Securities Inc. increased its position in shares of argenex by 56.4% during the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company’s stock valued at $36,000 after purchasing an additional 22 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of argenex by 1.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,829 shares of the company’s stock valued at $1,083,000 after purchasing an additional 24 shares during the period. M&T Bank Corp increased its position in shares of argenex by 0.6% during the 1st quarter. M&T Bank Corp now owns 4,296 shares of the company’s stock valued at $2,542,000 after purchasing an additional 27 shares during the period. Finally, Keudell Morrison Wealth Management increased its position in shares of argenex by 5.5% during the 2nd quarter. Keudell Morrison Wealth Management now owns 534 shares of the company’s stock valued at $294,000 after purchasing an additional 28 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenex Stock Up 0.2%

Shares of NASDAQ ARGX opened at $798.94 on Thursday. The stock has a market capitalization of $48.90 billion, a price-to-earnings ratio of 40.97, a PEG ratio of 0.87 and a beta of 0.46. The stock’s fifty day simple moving average is $714.80 and its 200 day simple moving average is $624.77. argenex SE has a 52-week low of $510.05 and a 52-week high of $807.91.

argenex (NASDAQ:ARGX) last issued its earnings results on Thursday, July 31st. The company reported $3.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.90. The business had revenue of $866.79 million for the quarter, compared to analysts’ expectations of $776.82 million. argenex had a return on equity of 21.06% and a net margin of 40.98%. As a group, analysts anticipate that argenex SE will post 3.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

ARGX has been the topic of several research analyst reports. HC Wainwright lifted their price target on argenex from $720.00 to $774.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Wall Street Zen upgraded argenex from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Stifel Nicolaus set a $882.00 price target on argenex in a research report on Thursday, September 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of argenex in a research report on Wednesday. Finally, Truist Financial lifted their price target on argenex from $700.00 to $918.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $802.90.

About argenex

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.