Russell Investments Group Ltd. Buys 3,493 Shares of argenx SE (NASDAQ:ARGX)

Russell Investments Group Ltd. increased its stake in argenx SE (NASDAQ:ARGX) by 13.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,861 shares of the company’s stock after purchasing an additional 3,493 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.05% of argenx worth $11,360,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ARGX. Massachusetts Financial Services Co. MA grew its stake in argenx by 339.1% in the 3rd 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 in the last quarter. Jennison Associates LLC grew its stake in argenx by 32.2% in the 3rd 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 in the last quarter. Invesco Ltd. grew its stake in argenx by 377.0% in the 3rd 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 in the last quarter. Clearbridge Investments LLC grew its position in shares of argenx by 103.2% during the 3rd quarter. Clearbridge Investments LLC now owns 344,364 shares of the company’s stock valued at $169,300,000 after purchasing an additional 174,894 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its position in shares of argenx by 76.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 316,380 shares of the company’s stock valued at $155,542,000 after purchasing an additional 137,016 shares in the last quarter. Institutional investors own 60.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wedbush restated an “outperform” rating and set a $521.00 price target on shares of argenx in a research report on Thursday, April 18th. HC Wainwright restated a “buy” rating and set a $451.00 price target on shares of argenx in a research report on Thursday, April 18th. JMP Securities restated a “market outperform” rating and set a $471.00 price target on shares of argenx in a research report on Friday, March 22nd. Wolfe Research assumed coverage on shares of argenx in a research report on Thursday, February 15th. They set a “peer perform” rating for the company. Finally, Piper Sandler boosted their price target on shares of argenx from $518.00 to $522.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, argenx currently has a consensus rating of “Moderate Buy” and an average target price of $528.16.

argenx Price Performance

Shares of NASDAQ ARGX opened at $388.20 on Monday. argenx SE has a 1 year low of $327.73 and a 1 year high of $550.76. The company’s 50-day moving average is $383.78 and its 200 day moving average is $411.83. The stock has a market capitalization of $23.07 billion, a P/E ratio of -75.53 and a beta of 0.67.

argenx (NASDAQ:ARGX) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($1.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($0.45). argenx had a negative net margin of 23.26% and a negative return on equity of 16.97%. The company had revenue of $417.84 million for the quarter, compared to analysts’ expectations of $378.60 million. During the same quarter in the prior year, the firm earned ($0.70) EPS. Research analysts anticipate that argenx SE will post -2.09 earnings per share for the current 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.