Reasons to Invest in argenx (ARGX)
ClearBridge Investments, an investment management firm, released its fourth-quarter 2023 “Mid Cap Strategy” investor letter, which can be downloaded here. As a late-year rally was fueled by confidence about an economic soft landing, a dovish flip by the Fed, and broader market performance, mid-cap stocks saw strong gains. Due to an inconstant industrial and consumer discretionary asset performance, the Strategy underperformed its benchmark; however, the consumer staples stock pick was successful. In addition, please check the fund’s top five holdings to know its best picks in 2023.
ClearBridge Mid Cap Strategy featured stocks like Argenx SE (NASDAQ:ARGX) in the fourth quarter 2023 investor letter. Headquartered in Amsterdam, the Netherlands, Argenx SE (NASDAQ:ARGX) is a biotechnology company. On March 18, 2024, Argenx SE (NASDAQ:ARGX) stock closed at $361.54 per share. One-month return of Argenx SE (NASDAQ:ARGX) was -8.56%, and its shares gained 1.12% of their value over the last 52 weeks. Argenx SE (NASDAQ:ARGX) has a market capitalization of $22.116 billion.
ClearBridge Mid Cap Strategy stated the following regarding Argenx SE (NASDAQ:ARGX) in its fourth quarter 2023 investor letter:
"We also added to our existing holding Argenx SE (NASDAQ:ARGX), in the health care sector, which develops various therapies for the treatment of autoimmune diseases. Despite lackluster phase 3 trial data for one of their drugs due to trial design issues, we remain extremely optimistic about the company's long-term prospects and capitalized on a decline in the share price to add to the position. Given argenx's strong balance sheet, and potential to expand their platform to treat dozens of similar autoimmune conditions, we like the biotechnology company's long-term prospects."
A lab setting filled with scientific equipment and researchers in lab coats working together to develop new therapies for autoimmune diseases.
Argenx SE (NASDAQ:ARGX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Argenx SE (NASDAQ:ARGX) was held by 53 hedge fund portfolios, down from 48 in the previous quarter, according to our database.
We discussed Argenx SE (NASDAQ:ARGX) in another article and shared Artisan Mid Cap Fund's views on the company. In addition, please check out our hedge fund investor letters Q4 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.
