Russell Investments Group Ltd. Raises Stock Position in argenx SE (NASDAQ:ARGX)

Russell Investments Group Ltd. grew its holdings in argenx SE (NASDAQ:ARGX) by 13.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 29,861 shares of the company’s stock after acquiring an additional 3,493 shares during the period. Russell Investments Group Ltd.’s holdings in argenx were worth $11,360,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Jennison Associates LLC grew its stake in shares of argenx by 32.2% in the 3rd quarter. Jennison Associates LLC now owns 1,511,745 shares of the company’s stock worth $743,219,000 after buying an additional 368,367 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of argenx by 339.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 581,586 shares of the company’s stock worth $285,925,000 after buying an additional 449,151 shares in the last quarter. RTW Investments LP grew its stake in shares of argenx by 5.2% in the 3rd quarter. RTW Investments LP now owns 507,195 shares of the company’s stock worth $249,352,000 after buying an additional 25,000 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of argenx by 377.0% in the 3rd quarter. Invesco Ltd. now owns 430,787 shares of the company’s stock worth $211,788,000 after acquiring an additional 340,482 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of argenx by 7.4% in the 4th quarter. Federated Hermes Inc. now owns 356,507 shares of the company’s stock worth $135,626,000 after acquiring an additional 24,416 shares during the last quarter. 60.32% of the stock is owned by hedge funds and other institutional investors.

argenx Stock Performance

NASDAQ:ARGX opened at $388.20 on Monday. argenx SE has a one year low of $327.73 and a one year high of $550.76. The firm has a market cap of $23.07 billion, a P/E ratio of -75.53 and a beta of 0.67. The firm has a 50-day simple moving average of $383.78 and a 200-day simple moving average of $411.83.

argenx (NASDAQ:ARGX) last posted its quarterly 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 the consensus estimate of $378.60 million. During the same quarter in the prior year, the firm posted ($0.70) EPS. On average, research analysts predict that argenx SE will post -2.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ARGX. Piper Sandler raised their target price on shares of argenx from $518.00 to $522.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. HC Wainwright restated a “buy” rating and issued a $451.00 target price on shares of argenx in a report on Thursday, April 18th. Scotiabank raised their target price on shares of argenx from $402.00 to $408.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 26th. Wolfe Research began coverage on shares of argenx in a report on Thursday, February 15th. They issued a “peer perform” rating for the company. Finally, Wells Fargo & Company raised their target price on shares of argenx from $472.00 to $478.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.