Principal Financial Group Inc. Raises Position in argenx SE (NASDAQ:ARGX)

Principal Financial Group Inc. increased its holdings in argenx SE (NASDAQ:ARGX – Get Rating) by 4,217.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,243 shares of the company’s stock after buying an additional 51,033 shares during the period. Principal Financial Group Inc.’s holdings in argenx were worth $19,791,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. raised its position in shares of argenx by 10.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 316 shares of the company’s stock worth $120,000 after buying an additional 31 shares in the last quarter. Parallel Advisors LLC raised its position in shares of argenx by 9.4% in the fourth quarter. Parallel Advisors LLC now owns 430 shares of the company’s stock worth $163,000 after buying an additional 37 shares in the last quarter. KB Financial Partners LLC raised its position in shares of argenx by 112.5% in the first quarter. KB Financial Partners LLC now owns 85 shares of the company’s stock worth $27,000 after buying an additional 45 shares in the last quarter. IFP Advisors Inc raised its position in shares of argenx by 7.6% in the third quarter. IFP Advisors Inc now owns 706 shares of the company’s stock worth $90,000 after buying an additional 50 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in argenx by 43.4% in the second quarter. Captrust Financial Advisors now owns 205 shares of the company’s stock valued at $78,000 after acquiring an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 57.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. HC Wainwright increased their target price on argenx from $182.00 to $494.00 in a research note on Friday, May 5th. Piper Sandler increased their target price on argenx from $465.00 to $475.00 and gave the company an “overweight” rating in a research note on Thursday, February 23rd. SVB Leerink increased their target price on argenx from $430.00 to $435.00 and gave the company an “outperform” rating in a research note on Friday, March 3rd. SVB Securities increased their target price on argenx from $430.00 to $435.00 in a research note on Friday, March 3rd. Finally, Bank of America increased their target price on argenx from $444.00 to $446.00 in a research note on Friday, May 5th. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $454.24.

argenx Price Performance

Shares of NASDAQ:ARGX opened at $422.58 on Monday. argenx SE has a 1 year low of $304.14 and a 1 year high of $422.58. The company has a market cap of $23.53 billion, a PE ratio of -45.49 and a beta of 0.75. The stock’s 50-day moving average is $382.23 and its 200 day moving average is $377.84.

argenx (NASDAQ:ARGX – Get Rating) last announced its quarterly earnings results on Thursday, March 2nd. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.08) by $2.38. argenx had a negative return on equity of 35.36% and a negative net margin of 79.45%. The company had revenue of $182.12 million for the quarter, compared to the consensus estimate of $177.11 million. Analysts expect that argenx SE will post -6.33 EPS for the current fiscal year.

About argenx

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argenx SE operates as a global immunology company committed to improving the lives of people suffering from severe autoimmune diseases. It operates from the Netherlands, Belgium, the United States of America, Japan, Switzerland, Germany and France. The firm partnering with academic researchers through its Immunology Innovation Program (IIP), argenx aims to translate immunology breakthroughs into a world-class portfolio of novel antibody-based medicines.