argenx (NASDAQ:ARGX) Shares Down 3.3% – Should You Sell?

Shares of argenx SE (NASDAQ:ARGX) dropped 3.3% during mid-day trading on Monday . The company traded as low as $556.86 and last traded at $558.78. Approximately 178,921 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 324,308 shares. The stock had previously closed at $577.89.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ARGX shares. Oppenheimer upped their price objective on shares of argenx from $704.00 to $708.00 and gave the company an “outperform” rating in a report on Friday, May 9th. Deutsche Bank Aktiengesellschaft upgraded shares of argenx from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th. JMP Securities set a $699.00 price objective on argenx in a research report on Wednesday, May 14th. Robert W. Baird raised argenx from a “neutral” rating to an “outperform” rating and set a $680.00 price target on the stock in a research note on Tuesday, May 13th. Finally, HC Wainwright restated a “buy” rating and issued a $720.00 price objective on shares of argenx in a report on Tuesday, June 10th. One equities research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $709.18.

argenx Stock Performance

The firm has a market capitalization of $33.66 billion, a PE ratio of -626.39 and a beta of 0.39. The company’s 50-day moving average price is $587.51 and its 200-day moving average price is $611.61.

argenx (NASDAQ:ARGX) last posted its earnings results on Thursday, May 8th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.26. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $748.34 million. argenx had a negative return on equity of 1.45% and a negative net margin of 2.11%. As a group, analysts anticipate that argenx SE will post 3.13 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in argenx by 17.2% during the 4th quarter. FMR LLC now owns 5,618,222 shares of the company’s stock worth $3,455,207,000 after purchasing an additional 824,750 shares during the period. Millennium Management LLC lifted its position in argenx by 316.9% during the 1st quarter. Millennium Management LLC now owns 268,604 shares of the company’s stock worth $158,977,000 after acquiring an additional 204,180 shares during the period. Point72 Asset Management L.P. acquired a new stake in argenx during the 4th quarter worth approximately $91,013,000. GAMMA Investing LLC grew its stake in shares of argenx by 53,684.9% in the 1st quarter. GAMMA Investing LLC now owns 135,538 shares of the company’s stock valued at $802,200,000 after purchasing an additional 135,286 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of argenx by 184.7% in the fourth quarter. Marshall Wace LLP now owns 191,553 shares of the company’s stock valued at $117,805,000 after purchasing an additional 124,271 shares during the period. Institutional investors and hedge funds own 60.32% of the company’s stock.

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.