Artisan Mid Cap Fund Maintains Its Confidence in Argenx's (ARGX) VYVGART

Artisan Partners, an investment management company, released its fourth-quarter 2025 investor letter for “Artisan Mid Cap Fund”.  A copy of the letter can be downloaded here. The Fund seeks to invest in companies that possess franchise characteristics, with strong earnings trajectories, and are trading at a discount to the estimated private market value. US equities ended a record year with robust fourth-quarter gains. The Fund’s Investor Class, ARTMX, delivered -0.44%, the Advisor Class, APDMX, delivered -0.37%, and the Institutional Class, APHMX, delivered -0.35% in the fourth quarter compared to -3.70% for the Russell Midcap® Growth Index. Continued strength in information technology (IT) and health care contributed to the performance during the quarter. Please review the Fund’s top five holdings to gain insights into their key selections for 2025.

In its fourth-quarter 2025 investor letter, Artisan Mid Cap Fund highlighted stocks like Argenx SE (NASDAQ:ARGX). Argenx SE (NASDAQ:ARGX) is a commercial-stage biopharma company and a leading contributor to the fund’s quarterly performance. On February 23, 2026, Argenx SE (NASDAQ:ARGX) stock closed at $826.25 per share. One-month return of Argenx SE (NASDAQ:ARGX) was -0.83%, and its shares gained 31.96% over the past 52 weeks. Argenx SE (NASDAQ:ARGX) has a market capitalization of $51.131 billion.

Artisan Mid Cap Fund stated the following regarding Argenx SE (NASDAQ:ARGX) in its fourth quarter 2025 investor letter:

"Our top contributors in Q4 were Argenx SE (NASDAQ:ARGX), Coherent and Insmed. Argenx is a commercial-stage biotechnology company with a first-in-class auto-immune therapy, VYVGART®, approved for myasthenia gravis and chronic inflammatory demyelinating polyradiculoneuropathy. In its latest earnings report, VYVGART® sales nearly doubled YoY, rising 96% and bringing annualized sales to over $4 billion, supported by growth in new patient uptake following the launch of its prefilled syringe formulation. Late in the quarter, the stock pulled back after the company discontinued a mid stage trial to treat thyroid eye disease due to a lack of efficacy. While this took away some of the upside for the quarter, we continue to view additional indications for VYVGART® as a compelling opportunity, with the drug currently being studied to treat more than a dozen other diseases."

Argenx SE (NASDAQ:ARGX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 47 hedge fund portfolios held Argenx SE (NASDAQ:ARGX) at the end of the fourth quarter, compared to 50 in the previous quarter. While we acknowledge the potential of Argenx SE (NASDAQ:ARGX) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

In another article, we covered Argenx SE (NASDAQ:ARGX) and shared Baron Health Care Fund's views on the company. In addition, please check out our hedge fund investor letters Q4 2025 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.