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

Principal Financial Group Inc. lessened its holdings in argenx SE (NASDAQ:ARGX) by 15.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ARGX. Cromwell Holdings LLC boosted its position in argenx by 73.3% in the third quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock worth $85,000 after purchasing an additional 66 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of argenx by 47.5% during the 3rd quarter. GAMMA Investing LLC now owns 174 shares of the company’s stock worth $94,000 after purchasing an additional 56 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of argenx in the 2nd quarter worth about $76,000. Blue Trust Inc. boosted its holdings in shares of argenx by 413.9% in the 3rd quarter. Blue Trust Inc. now owns 370 shares of the company’s stock worth $201,000 after buying an additional 298 shares during the last quarter. Finally, Keudell Morrison Wealth Management bought a new position in argenx during the third quarter valued at about $207,000. 60.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ARGX shares. Citigroup boosted their target price on shares of argenx from $512.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Piper Sandler increased their price objective on argenx from $553.00 to $620.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lowered argenx from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Truist Financial lifted their price objective on argenx from $540.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Oppenheimer restated an “outperform” rating and issued a $675.00 price objective (up from $646.00) on shares of argenx in a research note on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $639.78.

argenx Stock Up 0.2 %

NASDAQ:ARGX opened at $621.29 on Friday. argenx SE has a twelve month low of $349.86 and a twelve month high of $644.97. The stock has a market cap of $37.51 billion, a P/E ratio of -706.01 and a beta of 0.59. The business’s 50-day moving average price is $605.35 and its two-hundred day moving average price is $540.37.

argenx (NASDAQ:ARGX) last announced its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $1.29. The business had revenue of $588.88 million during the quarter, compared to analyst estimates of $543.29 million. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. During the same period in the previous year, the business posted ($1.25) earnings per share. On average, equities research analysts expect that argenx SE will post 2.2 EPS for the current fiscal year.

argenx 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.