Summit Partners Public Asset Management LLC Boosts Stake in argenex SE $ARGX

Summit Partners Public Asset Management LLC increased its position in argenex SE (NASDAQ:ARGX) by 32.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,620 shares of the company’s stock after buying an additional 20,166 shares during the period. argenex accounts for about 1.4% of Summit Partners Public Asset Management LLC’s investment portfolio, making the stock its 14th biggest position. Summit Partners Public Asset Management LLC’s holdings in argenex were worth $69,479,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ARGX. Abound Wealth Management raised its position in argenex by 3,200.0% during the fourth quarter. Abound Wealth Management now owns 33 shares of the company’s stock valued at $28,000 after purchasing an additional 32 shares during the period. Sound Income Strategies LLC purchased a new stake in argenex during the fourth quarter valued at approximately $28,000. Ameriflex Group Inc. purchased a new stake in argenex during the third quarter valued at approximately $32,000. Sunbelt Securities Inc. purchased a new stake in argenex during the third quarter valued at approximately $36,000. Finally, Aventura Private Wealth LLC purchased a new stake in argenex during the fourth quarter valued at approximately $38,000. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenex Stock Down 0.6%

Shares of NASDAQ:ARGX opened at $878.49 on Wednesday. argenex SE has a 52-week low of $510.05 and a 52-week high of $934.62. The stock has a market cap of $54.63 billion, a P/E ratio of 39.11, a price-to-earnings-growth ratio of 1.35 and a beta of 0.47. The business’s 50 day moving average is $817.48 and its 200 day moving average is $810.99.

argenex (NASDAQ:ARGX) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $5.52 earnings per share (EPS) for the quarter. argenex had a return on equity of 44.37% and a net margin of 31.31%.The company had revenue of $1.31 billion for the quarter. On average, sell-side analysts anticipate that argenex SE will post 26.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ARGX shares. Robert W. Baird upped their price objective on argenex from $858.00 to $867.00 and gave the company a “neutral” rating in a research report on Friday, February 27th. Oppenheimer cut their target price on argenex from $1,060.00 to $1,014.00 and set an “outperform” rating on the stock in a research note on Thursday, April 2nd. Zacks Research raised argenex from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Wells Fargo & Company upped their target price on argenex from $1,260.00 to $1,291.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Finally, Citizens Jmp upped their target price on argenex from $925.00 to $944.00 and gave the company a “market outperform” rating in a research note on Friday, February 27th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,019.50.

argenex Company Profile

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.