Should You Consider Adding argenx SE (ARGX) to Your Portfolio?
Baron Funds, an investment management company, released its “Baron Fifth Avenue Growth Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. The second quarter saw a continuation of the trends seen earlier in the year. The fund was up 16% (Institutional Shares) in the second quarter compared to a 12.8% gain for the Russell 1000 Growth Index and an 8.7% gain for the S&P 500 Index. Year-to-date, the fund is up 38.8% compared to 29.0% and 16.9% gains, respectively, for the indexes. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Baron Fifth Avenue Growth Fund highlighted stocks like Argenx SE (NASDAQ:ARGX) in the second quarter 2023 investor letter. Headquartered in Amsterdam, the Netherlands, Argenx SE (NASDAQ:ARGX) is a biotechnology company. On August 18, 2023, Argenx SE (NASDAQ:ARGX) stock closed at $488.59 per share. One-month return of Argenx SE (NASDAQ:ARGX) was -10.91%, and its shares gained 27.49% of their value over the last 52 weeks. Argenx SE (NASDAQ:ARGX) has a market capitalization of $28.971 billion.
Baron Fifth Avenue Growth Fund made the following comment about Argenx SE (NASDAQ:ARGX) in its second quarter 2023 investor letter:
"We also slightly added to our position in the leading autoimmune biotechnology company, Argenx SE (NASDAQ:ARGX), as we believe the company continues to prove the uniqueness of its solution to treat autoimmune disorders with efgartigimod across a range of diseases. The company just announced successful results in its Chronic Inflammatory Demyelinating Polyneuropathy trial, which showed significant efficacy with 67% response rate and a 61% lower risk of relapse as compared to placebo. This, we believe, is another milestone in the company’s path towards achieving its goal of 15 autoimmune indications by 2025 across neurology, hematology, rheumatology, dermatology, and nephrology."
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Argenx SE (NASDAQ:ARGX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 47 hedge fund portfolios held Argenx SE (NASDAQ:ARGX) at the end of second quarter which was 43 in the previous quarter.
We discussed Argenx SE (NASDAQ:ARGX) in another article and shared Baron Opportunity Fund’s views on the company. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
