Federated Hermes Inc. Reduces Stake in argenx SE (NASDAQ:ARGX)

Federated Hermes Inc. reduced its stake in shares of argenx SE (NASDAQ:ARGX) by 19.4% in the fourth quarter, Holdings Channel reports. The fund owned 170,247 shares of the company’s stock after selling 40,897 shares during the quarter. Federated Hermes Inc.’s holdings in argenx were worth $104,702,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of ARGX. Stifel Financial Corp raised its stake in argenx by 15.3% in the 3rd quarter. Stifel Financial Corp now owns 8,832 shares of the company’s stock valued at $4,788,000 after acquiring an additional 1,170 shares during the period. Stephens Inc. AR bought a new stake in shares of argenx in the fourth quarter valued at approximately $310,000. Ritholtz Wealth Management raised its position in shares of argenx by 85.5% in the fourth quarter. Ritholtz Wealth Management now owns 898 shares of the company’s stock valued at $552,000 after purchasing an additional 414 shares during the period. MML Investors Services LLC lifted its stake in shares of argenx by 16.9% during the 3rd quarter. MML Investors Services LLC now owns 8,699 shares of the company’s stock valued at $4,715,000 after buying an additional 1,255 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in argenx by 1,016.7% in the 4th quarter. Jones Financial Companies Lllp now owns 67 shares of the company’s stock worth $41,000 after buying an additional 61 shares during the period. Hedge funds and other institutional investors own 60.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ARGX shares. Robert W. Baird boosted their target price on shares of argenx from $650.00 to $680.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft upgraded argenx from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th. Oppenheimer raised their target price on argenx from $675.00 to $704.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. William Blair reiterated an “outperform” rating on shares of argenx in a research report on Friday, February 28th. Finally, JMP Securities raised their price objective on shares of argenx from $606.00 to $696.00 and gave the company a “market outperform” rating in a research report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, argenx currently has an average rating of “Moderate Buy” and a consensus price target of $687.00.

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 price-to-earnings ratio of -630.81 and a beta of 0.60. The stock’s 50-day moving average is $621.43 and its 200 day 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 posted its quarterly earnings results on Thursday, February 27th. The company reported $1.58 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $761.22 million for the quarter, compared to the consensus estimate of $678.52 million. On average, analysts forecast that argenx SE will post 3.13 EPS for the current fiscal year.

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.