4. argenx SE (NASDAQ:ARGX)
Point72 Asset Management’s Stake Value: $249.54 million
Percentage of Point72 Asset Management’s 13F Portfolio: 0.99%
Number of Hedge Fund Holders: 31
argenx SE (NASDAQ:ARGX) is a Dutch biotechnology firm which develops therapies for the treatment of autoimmune diseases. As of July 6, shares of the company have risen 17.15% in the last 12 months, and 4.23% so far in 2022.
On June 27, Stifel analyst Alex Thompson resumed coverage of argenx SE (NASDAQ:ARGX) with a ‘Buy’ rating and a $460 price target. The analyst holds that the firm’s efgartigimod has a “reasonable shot” at becoming a “mega-blockbuster” drug across a broad range of autoimmune indications, and thus maintains a bullish view on the company’s future prospects.
Steve Cohen’s hedge fund disclosed ownership of roughly 791,000 shares of the company at the end of the first quarter, worth $249.5 million and amounting to a 0.99% slice of its overall portfolio.
A detailed examination of the 900+ hedge funds in the database of Insider Monkey showed that 31 hedge funds were long argenx SE (NASDAQ:ARGX) at the end of March, with aggregate stakes worth $1.95 billion. This is up from 30 hedge funds in the previous quarter with $1.58 billion worth of positions in the biotech firm. With 1.25 million shares worth $395.7 million, VenBio Select Advisor was the leading Q1 shareholder of argenx SE (NASDAQ:ARGX).
In its Q4 2021 investor letter, investment firm Artisan Partners discussed the prospects of argenx SE (NASDAQ:ARGX). Here is what it said:
“Argenx is a commercial stage biotechnology company with an approved, first and potentially best-in-class therapy (FcRn) for autoimmune diseases—a potential $10 billion+ opportunity. The company received positive news in December, winning its first FDA approval for efgartigimod, which treats myasthenia gravis—a chronic neuromuscular condition—which we believe could generate up to $3 billion in sales for Argenx. In addition to the myasthenia gravis treatment, efgartigimod is in development for several additional autoimmune diseases with possibility for more diseases to be announced over time. We believe several of these have been significantly de-risked, positioning the company to expand the revenue opportunities for the product. Finally, the company’s earlierstage pipeline product, ARGX-117 (C2), has shown promising data in several severe autoimmune diseases. Like efgartigimod, ARGX-117 (C2) has broad disease application potential. Biotech stocks’ performance is highly correlated with the commercial launch of new drugs or the release of data validating clinical trials, and we see a highconviction scenario where shares of Argenx could move higher in 2022—phase 3 ITP (IV delivery) data is expected in 1H (~$1 billion market opportunity), and a successful study would further validate the company’s approach to shift clinical risk to earlier phase 2 studies.”
