Iron Triangle Partners LP Sells 5,667 Shares of argenex SE $ARGX

Iron Triangle Partners LP lowered its stake in argenex SE (NASDAQ:ARGX) by 36.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,900 shares of the company’s stock after selling 5,667 shares during the quarter. argenex makes up 1.0% of Iron Triangle Partners LP’s investment portfolio, making the stock its 25th largest position. Iron Triangle Partners LP’s holdings in argenex were worth $7,302,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Ameriflex Group Inc. bought a new position in shares of argenex in the third quarter valued at approximately $32,000. Bessemer Group Inc. boosted its holdings in argenex by 276.5% in the 3rd quarter. Bessemer Group Inc. now owns 64 shares of the company’s stock valued at $47,000 after purchasing an additional 47 shares during the period. MAI Capital Management boosted its holdings in argenex by 866.7% in the 2nd quarter. MAI Capital Management now owns 87 shares of the company’s stock valued at $48,000 after purchasing an additional 78 shares during the period. Mather Group LLC. purchased a new position in shares of argenex during the 3rd quarter valued at $50,000. Finally, Rossby Financial LCC grew its position in shares of argenex by 115.2% during the 3rd quarter. Rossby Financial LCC now owns 71 shares of the company’s stock valued at $54,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

argenex Stock Performance

ARGX opened at $700.45 on Monday. argenex SE has a 52-week low of $510.05 and a 52-week high of $934.62. The stock has a market capitalization of $43.34 billion, a PE ratio of 35.88, a price-to-earnings-growth ratio of 1.16 and a beta of 0.38. The stock’s 50 day moving average price is $804.00 and its 200-day moving average price is $817.49.

argenex (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, February 26th. The company reported $8.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.05 by $1.97. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. argenex had a net margin of 30.42% and a return on equity of 38.51%. Research analysts forecast that argenex SE will post 3.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ARGX shares. Robert W. Baird increased their price objective on argenex from $858.00 to $867.00 and gave the stock a “neutral” rating in a research report on Friday, February 27th. Truist Financial boosted their target price on argenex from $950.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Citigroup decreased their target price on argenex from $1,124.00 to $1,091.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Weiss Ratings reissued a “hold (c)” rating on shares of argenex in a report on Wednesday, January 21st. Finally, DZ Bank raised shares of argenex to a “strong-buy” rating in a research note on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $999.22.

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.