Logos Global Management LP Invests $58.06 Million in argenx SE (NASDAQ:ARGX)

Logos Global Management LP purchased a new stake in shares of argenx SE (NASDAQ:ARGX) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 135,000 shares of the company’s stock, valued at approximately $58,055,000. argenx makes up approximately 4.7% of Logos Global Management LP’s investment portfolio, making the stock its 5th biggest position. Logos Global Management LP owned 0.23% of argenx as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of ARGX. Wellington Management Group LLP grew its holdings in argenx by 26.2% during the 4th quarter. Wellington Management Group LLP now owns 279,168 shares of the company’s stock valued at $106,204,000 after buying an additional 57,956 shares in the last quarter. Sectoral Asset Management Inc. lifted its holdings in shares of argenx by 717.2% in the 4th quarter. Sectoral Asset Management Inc. now owns 10,027 shares of the company’s stock worth $3,815,000 after buying an additional 8,800 shares during the period. Boxer Capital LLC lifted its holdings in shares of argenx by 88.2% in the 4th quarter. Boxer Capital LLC now owns 160,000 shares of the company’s stock worth $60,869,000 after buying an additional 75,000 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of argenx by 9.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 47,583 shares of the company’s stock worth $18,102,000 after buying an additional 3,967 shares during the period. Finally, Altitude Crest Partners Inc. purchased a new position in argenx in the fourth quarter valued at about $11,223,000. Institutional investors own 60.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ARGX shares. Oppenheimer upgraded argenx from a “market perform” rating to an “outperform” rating and set a $546.00 price target on the stock in a research note on Tuesday, July 23rd. Bank of America reaffirmed a “buy” rating and issued a $607.00 price target (up from $535.00) on shares of argenx in a report on Monday, June 24th. Truist Financial increased their target price on shares of argenx from $480.00 to $540.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Robert W. Baird increased their target price on shares of argenx from $490.00 to $515.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, Barclays upgraded shares of argenx from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $547.74.

argenx Stock Performance

argenx stock opened at $528.50 on Tuesday. argenx SE has a fifty-two week low of $327.73 and a fifty-two week high of $554.74. The company has a market capitalization of $31.41 billion, a P/E ratio of -93.37 and a beta of 0.62. The stock has a 50-day simple moving average of $513.92 and a 200-day simple moving average of $434.04.

argenx (NASDAQ:ARGX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $1.34. The firm had revenue of $489.43 million for the quarter, compared to analysts’ expectations of $436.66 million. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. During the same quarter in the previous year, the firm posted ($1.69) EPS. As a group, analysts forecast that argenx SE will post -0.37 earnings per share for the current year.

argenx Company Profile

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.