argenex SE $ARGX Shares Acquired by Moore Capital Management LP

Moore Capital Management LP boosted its stake in shares of argenex SE (NASDAQ:ARGX) by 66.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,000 shares of the company’s stock after purchasing an additional 10,000 shares during the quarter. Moore Capital Management LP’s holdings in argenex were worth $21,024,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Abound Wealth Management boosted its position in argenex by 3,200.0% during the 4th quarter. Abound Wealth Management now owns 33 shares of the company’s stock worth $28,000 after acquiring an additional 32 shares during the period. Sound Income Strategies LLC acquired a new position in argenex during the 4th quarter worth $28,000. Ameriflex Group Inc. acquired a new position in argenex during the 3rd quarter worth $32,000. Sunbelt Securities Inc. acquired a new position in argenex during the 3rd quarter worth $36,000. Finally, Aventura Private Wealth LLC acquired a new position in argenex during the 4th quarter worth $38,000. Institutional investors and hedge funds own 60.32% of the company’s stock.

argenex Stock Up 1.6%

Shares of argenex stock opened at $892.26 on Thursday. The stock’s fifty day moving average is $820.36 and its 200-day moving average is $810.81. The firm has a market capitalization of $55.49 billion, a PE ratio of 39.73, a price-to-earnings-growth ratio of 1.34 and a beta of 0.47. argenex SE has a 12-month low of $510.05 and a 12-month high of $934.62.

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. The firm had revenue of $1.31 billion during the quarter. argenex had a return on equity of 44.37% and a net margin of 31.31%. Analysts expect that argenex SE will post 26.19 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ARGX. Wedbush reissued an “outperform” rating and issued a $1,000.00 price objective on shares of argenex in a research note on Thursday, June 11th. Wells Fargo & Company boosted their price objective on argenex from $1,260.00 to $1,291.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Glj Research raised argenex to a “strong-buy” rating in a research note on Friday, April 3rd. Wall Street Zen downgraded argenex from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Oppenheimer dropped their price objective 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. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock 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.