Sumitomo Mitsui Trust Holdings Inc. Acquires 713 Shares of argenx SE (NASDAQ:ARGX)

Sumitomo Mitsui Trust Holdings Inc. grew its holdings in argenx SE (NASDAQ:ARGX) by 68.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,750 shares of the company’s stock after purchasing an additional 713 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in argenx were worth $666,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Parkside Financial Bank & Trust bought a new stake in argenx during the 3rd quarter worth $28,000. FNY Investment Advisers LLC bought a new stake in argenx during the 4th quarter worth $38,000. Nkcfo LLC grew its position in argenx by 22.1% during the 3rd quarter. Nkcfo LLC now owns 116 shares of the company’s stock worth $57,000 after acquiring an additional 21 shares during the last quarter. CWM LLC grew its position in argenx by 29.4% during the 3rd quarter. CWM LLC now owns 207 shares of the company’s stock worth $102,000 after acquiring an additional 47 shares during the last quarter. Finally, Toronto Dominion Bank grew its position in argenx by 174.2% during the 3rd quarter. Toronto Dominion Bank now owns 266 shares of the company’s stock worth $131,000 after acquiring an additional 169 shares during the last quarter. Institutional investors own 60.32% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. JMP Securities restated a “market outperform” rating and set a $471.00 price objective on shares of argenx in a research report on Friday, March 22nd. Robert W. Baird dropped their price objective on argenx from $505.00 to $490.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. Wolfe Research started coverage on argenx in a research note on Thursday, February 15th. They issued a “peer perform” rating on the stock. Piper Sandler boosted their price objective on argenx from $518.00 to $522.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Finally, HC Wainwright reissued a “buy” rating and issued a $451.00 price objective on shares of argenx in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $528.16.

argenx Stock Performance

Shares of ARGX opened at $368.60 on Friday. The stock has a 50 day moving average price of $386.41 and a two-hundred day moving average price of $418.17. The firm has a market capitalization of $21.91 billion, a P/E ratio of -71.71 and a beta of 0.65. argenx SE has a 52 week low of $327.73 and a 52 week high of $550.76.

argenx (NASDAQ:ARGX) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($1.68) EPS for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.45). The company had revenue of $417.84 million for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted ($0.70) earnings per share. On average, equities analysts forecast that argenx SE will post -2.1 earnings per share for the current 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.