Why is Argenx (ARGX) a Suitable Investment Option?
ClearBridge Investments, an investment management company, released its “ClearBridge Select Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. Rising bond rates and the Federal Reserve’s shift to a more hawkish stance put pressure on stocks in the third quarter. The strategy underperformed its Russell 3000 Index in the third quarter. Overall stock selection and sector allocation detracted from performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.
ClearBridge Select Strategy highlighted stocks like Argenx SE (NASDAQ:ARGX) in the third quarter 2023 investor letter. Headquartered in Amsterdam, the Netherlands, Argenx SE (NASDAQ:ARGX) is a biotechnology company. On December 7, 2023, Argenx SE (NASDAQ:ARGX) stock closed at $457.77 per share. One-month return of Argenx SE (NASDAQ:ARGX) was -6.41%, and its shares gained 17.83% of their value over the last 52 weeks. Argenx SE (NASDAQ:ARGX) has a market capitalization of $27.192 billion.
ClearBridge Select Strategy made the following comment about Argenx SE (NASDAQ:ARGX) in its Q3 2023 investor letter:
"New addition Argenx SE (NASDAQ:ARGX) is a Dutch biotechnology firm we consider a disruptor due to its unique treatments for rare diseases. The company demonstrated a successful launch during the quarter for its myasthenia gravis drug to treat an autoimmune disorder of the muscular system. Argenx is targeting the same molecule to treat other rare diseases, with key readouts by year end or early next year."
A biotechnology research center with scientists wearing lab coats and goggles experimenting with single molecule sequencing.
Argenx SE (NASDAQ:ARGX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 48 hedge fund portfolios held Argenx SE (NASDAQ:ARGX) at the end of third quarter which was 47 in the previous quarter.
We discussed Argenx SE (NASDAQ:ARGX) in another article and shared Artisan Small Cap Fund's views on the company. In addition, please check out our hedge fund investor letters Q3 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.
