QRG Capital Management Inc. Buys New Stake in argenex SE $ARGX

QRG Capital Management Inc. purchased a new position in argenex SE (NASDAQ:ARGX) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 738 shares of the company’s stock, valued at approximately $544,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Adage Capital Partners GP L.L.C. grew its position in shares of argenex by 114.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock valued at $163,775,000 after purchasing an additional 158,476 shares in the last quarter. Franklin Resources Inc. boosted its stake in argenex by 103.9% during the second quarter. Franklin Resources Inc. now owns 279,803 shares of the company’s stock valued at $154,233,000 after buying an additional 142,606 shares during the last quarter. Jennison Associates LLC boosted its stake in argenex by 6.1% during the second quarter. Jennison Associates LLC now owns 264,647 shares of the company’s stock valued at $145,879,000 after buying an additional 15,186 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in argenex by 14.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 211,330 shares of the company’s stock valued at $162,160,000 after buying an additional 26,343 shares in the last quarter. Finally, Orbimed Advisors LLC grew its holdings in argenex by 0.6% during the 2nd quarter. Orbimed Advisors LLC now owns 208,000 shares of the company’s stock valued at $114,654,000 after buying an additional 1,300 shares in the last quarter. Institutional investors own 60.32% of the company’s stock.

argenex Stock Up 1.3%

NASDAQ ARGX opened at $827.02 on Friday. The company has a fifty day moving average of $861.34 and a two-hundred day moving average of $769.41. The firm has a market capitalization of $51.18 billion, a price-to-earnings ratio of 35.51, a PEG ratio of 0.52 and a beta of 0.38. argenex SE has a 52 week low of $510.05 and a 52 week high of $934.62.

argenex (NASDAQ:ARGX) last announced its earnings results on Thursday, October 30th. The company reported $4.40 earnings per share for the quarter, beating the consensus estimate of $4.37 by $0.03. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.07 billion. argenex had a net margin of 41.58% and a return on equity of 29.78%. Equities research analysts anticipate that argenex SE will post 3.13 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ARGX shares. HC Wainwright upped their price objective on argenex from $774.00 to $915.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Piper Sandler boosted their price target on shares of argenex from $820.00 to $930.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Morgan Stanley upped their price target on shares of argenex from $1,070.00 to $1,110.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Robert W. Baird cut shares of argenex from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 18th. Finally, TD Cowen boosted their target price on shares of argenex from $800.00 to $1,146.00 and gave the stock a “buy” rating in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $986.78.

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.