Federated Hermes Inc. Has $104.70 Million Position in argenx SE (NASDAQ:ARGX)

Federated Hermes Inc. cut its holdings in shares of argenx SE (NASDAQ:ARGX) by 19.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,247 shares of the company’s stock after selling 40,897 shares during the period. Federated Hermes Inc. owned about 0.28% of argenx worth $104,702,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC bought a new position in shares of argenx during the fourth quarter worth about $37,000. Global Retirement Partners LLC lifted its position in shares of argenx by 369.2% in the 4th quarter. Global Retirement Partners LLC now owns 61 shares of the company’s stock worth $38,000 after purchasing an additional 48 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of argenx by 1,016.7% in the 4th quarter. Jones Financial Companies Lllp now owns 67 shares of the company’s stock valued at $41,000 after purchasing an additional 61 shares during the last quarter. Huntington National Bank increased its position in shares of argenx by 1,133.3% during the fourth quarter. Huntington National Bank now owns 74 shares of the company’s stock worth $46,000 after buying an additional 68 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in argenx by 78.6% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 75 shares of the company’s stock worth $46,000 after buying an additional 33 shares during the last quarter. 60.32% of the stock is owned by institutional investors.

argenx Trading Down 5.9 %

Shares of NASDAQ:ARGX opened at $555.11 on Monday. The stock has a market cap of $33.73 billion, a PE ratio of -630.81 and a beta of 0.60. The stock’s fifty day simple moving average is $621.43 and its two-hundred day simple moving average is $603.70. argenx SE has a 1-year low of $352.77 and a 1-year high of $678.21.

argenx (NASDAQ:ARGX) last released its quarterly earnings results on Thursday, February 27th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.60. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The company had revenue of $761.22 million for the quarter, compared to analyst estimates of $678.52 million. On average, sell-side analysts forecast that argenx SE will post 3.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on ARGX shares. Wells Fargo & Company upped their price target on shares of argenx from $723.00 to $741.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Truist Financial reaffirmed a “buy” rating and set a $700.00 target price (up previously from $660.00) on shares of argenx in a research note on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft raised argenx from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th. Piper Sandler increased their price target on argenx from $620.00 to $725.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Finally, Guggenheim lifted their price objective on shares of argenx from $775.00 to $1,100.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $687.00.

argenx Profile

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.