Principal Financial Group Inc. Sells 461 Shares of argenx SE (NASDAQ:ARGX)

Principal Financial Group Inc. lowered its stake in argenx SE (NASDAQ:ARGX) by 15.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,500 shares of the company’s stock after selling 461 shares during the period. Principal Financial Group Inc.’s holdings in argenx were worth $1,355,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC boosted its holdings in shares of argenx by 32.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,460 shares of the company’s stock worth $575,000 after purchasing an additional 361 shares during the period. Advisors Asset Management Inc. raised its stake in shares of argenx by 79.3% in the first quarter. Advisors Asset Management Inc. now owns 588 shares of the company’s stock valued at $232,000 after acquiring an additional 260 shares during the period. Toronto Dominion Bank lifted its holdings in shares of argenx by 16.5% in the 1st quarter. Toronto Dominion Bank now owns 303 shares of the company’s stock worth $119,000 after acquiring an additional 43 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its holdings in shares of argenx by 14.2% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 5,184 shares of the company’s stock worth $2,041,000 after acquiring an additional 646 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of argenx by 24.8% during the first quarter. Janus Henderson Group PLC now owns 2,216,648 shares of the company’s stock valued at $872,690,000 after buying an additional 439,889 shares during the period. 60.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

ARGX has been the topic of a number of research analyst reports. Citigroup upped their price target on shares of argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. JMP Securities raised their price objective on argenx from $497.00 to $606.00 and gave the stock a “market outperform” rating in a report on Friday, November 1st. Evercore ISI upped their target price on argenx from $675.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Wolfe Research upgraded argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price objective for the company in a report on Tuesday, November 12th. Three research 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, argenx currently has an average rating of “Moderate Buy” and an average price target of $630.42.

argenx Stock Performance

Shares of NASDAQ ARGX opened at $605.92 on Friday. argenx SE has a fifty-two week low of $327.73 and a fifty-two week high of $611.22. The company has a market cap of $36.23 billion, a PE ratio of -688.55 and a beta of 0.61. The business has a 50-day simple moving average of $557.73 and a two-hundred day simple moving average of $488.21.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, October 31st. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The company had revenue of $588.88 million during the quarter, compared to analysts’ expectations of $543.29 million. During the same period last year, the business earned ($1.25) EPS. On average, sell-side analysts predict that argenx SE will post 2.2 earnings per share 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.