Principal Financial Group Inc. Decreases Holdings in argenx SE (NASDAQ:ARGX)

Principal Financial Group Inc. lowered its position 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 (SEC). The institutional investor owned 2,500 shares of the company’s stock after selling 461 shares during the quarter. Principal Financial Group Inc.’s holdings in argenx were worth $1,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of ARGX. Point72 Hong Kong Ltd bought a new stake in shares of argenx in the 2nd quarter worth approximately $76,000. Cromwell Holdings LLC raised its position in argenx by 73.3% in the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock worth $85,000 after purchasing an additional 66 shares during the period. GAMMA Investing LLC lifted its stake in argenx by 47.5% in the third quarter. GAMMA Investing LLC now owns 174 shares of the company’s stock worth $94,000 after purchasing an additional 56 shares during the last quarter. Blue Trust Inc. boosted its position in argenx by 413.9% during the third quarter. Blue Trust Inc. now owns 370 shares of the company’s stock valued at $201,000 after buying an additional 298 shares during the period. Finally, Gallacher Capital Management LLC bought a new position in shares of argenx during the second quarter valued at about $202,000. 60.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ARGX has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft cut argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. William Blair upgraded shares of argenx from a “market perform” rating to an “outperform” rating in a report on Friday, November 1st. Piper Sandler upped their price target on shares of argenx from $553.00 to $620.00 and gave the company an “overweight” rating in a report on Friday, November 1st. HC Wainwright reissued a “buy” rating and set a $617.00 price target on shares of argenx in a research report on Wednesday, November 20th. Finally, Baird R W cut shares of argenx from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $639.78.

argenx Price Performance

Shares of argenx stock opened at $621.29 on Friday. argenx SE has a 1 year low of $349.86 and a 1 year high of $644.97. The firm has a market cap of $37.51 billion, a price-to-earnings ratio of -706.01 and a beta of 0.59. The company has a 50-day moving average of $605.35 and a 200 day moving average of $540.37.

argenx (NASDAQ:ARGX) last announced its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, beating 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 business had revenue of $588.88 million during the quarter, compared to the consensus estimate of $543.29 million. During the same quarter last year, the firm earned ($1.25) earnings per share. On average, equities analysts anticipate that argenx SE will post 2.2 EPS for the current year.

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.