argenex SE (NASDAQ:ARGX) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. reduced its stake in argenex SE by 36.0%, selling 61,302 shares and holding 108,945 shares at the end of the first quarter, valued at approximately $64.5 million.
• The stock of argenex SE opened at $598.79, with a market capitalization of $36.65 billion and a 52-week trading range of $475.65 to $678.21.
• Analysts maintain a positive outlook for argenex, with 19 buy ratings and an average price target of $728.06 according to MarketBeat.

Federated Hermes Inc. trimmed its holdings in shares of argenex SE (NASDAQ:ARGX - Free Report) by 36.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,945 shares of the company's stock after selling 61,302 shares during the quarter. Federated Hermes Inc. owned approximately 0.18% of argenex worth $64,481,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. GeoWealth Management LLC increased its position in argenex by 56.3% during the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company's stock valued at $31,000 after buying an additional 18 shares in the last quarter. FIL Ltd purchased a new position in shares of argenex in the 4th quarter valued at approximately $38,000. Rakuten Securities Inc. boosted its stake in argenex by 56.4% in the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock worth $36,000 after purchasing an additional 22 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in argenex during the 4th quarter worth approximately $38,000. Finally, Huntington National Bank increased its stake in argenex by 1,133.3% during the 4th quarter. Huntington National Bank now owns 74 shares of the company's stock valued at $46,000 after purchasing an additional 68 shares in the last quarter. Institutional investors own 60.32% of the company's stock.

argenex Stock Up 0.5%

Shares of NASDAQ ARGX traded up $3.47 during trading on Friday, hitting $673.80. The company had a trading volume of 633,642 shares, compared to its average volume of 414,608. The firm has a market capitalization of $41.24 billion, a price-to-earnings ratio of 34.55, a price-to-earnings-growth ratio of 1.20 and a beta of 0.39. argenex SE has a fifty-two week low of $475.65 and a fifty-two week high of $689.13. The stock has a fifty day simple moving average of $571.11 and a two-hundred day simple moving average of $597.21.

argenex (NASDAQ:ARGX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $3.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.90. argenex had a net margin of 40.98% and a return on equity of 33.30%. The company had revenue of $866.79 million during the quarter, compared to analysts' expectations of $776.82 million. On average, analysts anticipate that argenex SE will post 3.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ARGX. Oppenheimer boosted their price objective on shares of argenex from $704.00 to $708.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Deutsche Bank Aktiengesellschaft raised argenex from a "hold" rating to a "buy" rating in a report on Tuesday, July 8th. Wedbush reaffirmed an "outperform" rating and set a $715.00 target price on shares of argenex in a report on Monday, July 21st. Wells Fargo & Company increased their price target on shares of argenex from $741.00 to $756.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Baird R W upgraded shares of argenex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Nineteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $736.81.

About argenex

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.