argenx SE (NASDAQ:ARGX) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its position in argenx SE (NASDAQ:ARGX - Free Report) by 19.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 170,247 shares of the company's stock after selling 40,897 shares during the quarter. Federated Hermes Inc. owned approximately 0.28% of argenx worth $104,702,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Lord Abbett & CO. LLC bought a new stake in argenx during the 3rd quarter valued at $88,339,000. Allspring Global Investments Holdings LLC grew its stake in argenx by 38,152.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 144,211 shares of the company's stock valued at $89,391,000 after purchasing an additional 143,834 shares during the last quarter. Raymond James Financial Inc. bought a new position in argenx in the fourth quarter worth about $43,543,000. Jennison Associates LLC lifted its position in shares of argenx by 27.0% during the fourth quarter. Jennison Associates LLC now owns 302,149 shares of the company's stock valued at $185,821,000 after buying an additional 64,183 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of argenx by 13.0% in the 3rd quarter. Wellington Management Group LLP now owns 482,346 shares of the company's stock valued at $261,470,000 after buying an additional 55,617 shares in the last quarter. 60.32% of the stock is currently owned by hedge funds and other institutional investors.

argenx Price Performance

ARGX stock traded up $34.72 during midday trading on Friday, hitting $580.94. 536,659 shares of the stock traded hands, compared to its average volume of 306,116. argenx SE has a 1-year low of $352.77 and a 1-year high of $678.21. The firm has a market cap of $35.30 billion, a P/E ratio of -660.16 and a beta of 0.60. The stock's fifty day simple moving average is $607.87 and its 200-day simple moving average is $603.90.

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argenx (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $0.98 by $0.60. The company had revenue of $761.22 million for the quarter, compared to analyst estimates of $678.52 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. On average, research analysts predict that argenx SE will post 3.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ARGX shares. Robert W. Baird increased their target price on shares of argenx from $650.00 to $680.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. HC Wainwright reaffirmed a "buy" rating and set a $720.00 target price on shares of argenx in a research report on Tuesday. JMP Securities increased their price target on argenx from $606.00 to $696.00 and gave the company a "market outperform" rating in a research note on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft upgraded argenx from a "sell" rating to a "hold" rating in a research note on Wednesday, March 12th. Finally, Oppenheimer lifted their target price on shares of argenx from $675.00 to $704.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, argenx has a consensus rating of "Moderate Buy" and a consensus price target of $690.33.

argenx Company 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.