Handelsbanken Fonder AB Decreases Holdings in argenx SE (NASDAQ:ARGX)

Handelsbanken Fonder AB trimmed its stake in shares of argenx SE (NASDAQ:ARGX) by 5.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,853 shares of the company’s stock after selling 1,613 shares during the period. Handelsbanken Fonder AB’s holdings in argenx were worth $9,835,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on ARGX. Scotiabank raised their price objective on shares of argenx from $402.00 to $408.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 26th. Truist Financial raised their price objective on shares of argenx from $370.00 to $440.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. HC Wainwright restated a “buy” rating and set a $451.00 price objective on shares of argenx in a research report on Thursday, April 18th. Wedbush restated an “outperform” rating and set a $521.00 price objective on shares of argenx in a research report on Thursday, April 18th. Finally, Wells Fargo & Company raised their price objective on shares of argenx from $472.00 to $478.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $528.16.

argenx Stock Down 0.0 %

Shares of argenx stock opened at $375.00 on Thursday. argenx SE has a 52-week low of $327.73 and a 52-week high of $550.76. The company has a 50 day moving average of $386.72 and a 200 day moving average of $418.48. The company has a market capitalization of $22.29 billion, a P/E ratio of -72.96 and a beta of 0.65.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($1.68) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.45). The company had revenue of $417.84 million for the quarter, compared to analysts’ expectations of $378.60 million. argenx had a negative return on equity of 16.97% and a negative net margin of 23.26%. During the same quarter in the prior year, the firm posted ($0.70) EPS. As a group, research analysts anticipate that argenx SE will post -2.1 earnings per share for the current fiscal 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.