Federated Hermes Inc. Raises Holdings in argenx SE (NASDAQ:ARGX)

Federated Hermes Inc. boosted its stake in shares of argenx SE (NASDAQ:ARGX) by 7.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 356,507 shares of the company’s stock after purchasing an additional 24,416 shares during the quarter. Federated Hermes Inc. owned approximately 0.60% of argenx worth $135,626,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. increased its holdings in shares of argenx by 2.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,530 shares of the company’s stock valued at $582,000 after acquiring an additional 41 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of argenx by 6.8% in the 4th quarter. Mackenzie Financial Corp now owns 1,863 shares of the company’s stock valued at $709,000 after acquiring an additional 119 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in shares of argenx in the 4th quarter valued at about $231,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of argenx by 68.8% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,750 shares of the company’s stock valued at $666,000 after acquiring an additional 713 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of argenx by 124.5% in the 4th quarter. Cerity Partners LLC now owns 1,026 shares of the company’s stock valued at $390,000 after acquiring an additional 569 shares during the last quarter. Hedge funds and other institutional investors own 60.32% of the company’s stock.

argenx Stock Performance

Shares of NASDAQ:ARGX traded down $2.73 during trading on Thursday, hitting $363.47. The company’s stock had a trading volume of 113,244 shares, compared to its average volume of 317,431. The stock’s 50-day moving average price is $388.98 and its two-hundred day moving average price is $422.26. argenx SE has a fifty-two week low of $327.73 and a fifty-two week high of $550.76. The company has a market capitalization of $21.55 billion, a PE ratio of -70.37 and a beta of 0.65.

argenx (NASDAQ:ARGX) last posted its earnings results on Thursday, February 29th. The company reported ($1.68) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.45). argenx had a negative net margin of 23.26% and a negative return on equity of 16.97%. The business had revenue of $417.84 million during the quarter, compared to analyst estimates of $378.60 million. During the same quarter in the prior year, the business earned ($0.70) earnings per share. On average, equities analysts predict that argenx SE will post -2.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on ARGX. Robert W. Baird dropped their price objective on argenx from $505.00 to $490.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. JMP Securities reaffirmed a “market outperform” rating and set a $471.00 price objective on shares of argenx in a research report on Friday, March 22nd. Raymond James decreased their price objective on argenx from $580.00 to $520.00 and set a “strong-buy” rating for the company in a research report on Thursday, December 21st. Truist Financial raised their price target on argenx from $370.00 to $440.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, Evercore ISI reduced their price target on argenx from $594.00 to $436.00 and set an “outperform” rating for the company in a report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $528.16.

About argenx

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren's syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.