argenex (NASDAQ:ARGX) Shares Gap Down – Should You Sell?

argenex SE (NASDAQ:ARGX) gapped down prior to trading on Thursday. The stock had previously closed at $928.44, but opened at $831.23. argenex shares last traded at $809.3430, with a volume of 361,389 shares trading hands.

Trending Headlines about argenex

Here are the key news stories impacting argenex this week:

• Positive Sentiment: argenx reported that its Phase 2 trial of FB102 in celiac disease met its primary endpoint, with a statistically significant improvement in the ratio of villous height to crypt depth. The company plans to advance the CD122 inhibitor into Phase 3 development, adding potential value to its pipeline. argenx Announces Positive Topline Results from Phase 2 Study of FB102 in Celiac Disease
• Positive Sentiment: The celiac results provide the first clinical validation of FB102 following argenx’s acquisition of Forte Biosciences and could support a new growth opportunity beyond its existing Vyvgart franchise. argenx Meets Primary Endpoint in Phase II Celiac Disease Study
• Neutral Sentiment: Reported short interest was listed at zero shares as of October 9, implying no measurable short-selling pressure based on the supplied data. However, the report’s wording that short interest “increased” conflicts with the zero-share figure, reducing its usefulness as a trading signal.
• Negative Sentiment: argenx discontinued the Phase 3 UNITY study of subcutaneous efgartigimod in Sjögren’s disease after an independent monitoring committee determined the trial was futile at interim analysis. The failure removes a major potential indication for Vyvgart and triggered a sharp selloff. Argenx discontinues Vyvgart study in Sjögren’s disease, shares tumble
• Negative Sentiment: Robert W. Baird lowered its price target to $823 from $932 and retained a neutral rating, reflecting increased uncertainty after the trial setback. argenx price target update
• Negative Sentiment: A shareholder-investigation notice was announced following the trial discontinuation, adding a potential legal and headline risk, although no claims or outcome have been established. argenx Investigation Notice

Analysts Set New Price Targets

ARGX has been the subject of several analyst reports. Royal Bank Of Canada lifted their price objective on shares of argenex from $1,025.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. Piper Sandler upped their price target on argenex from $1,075.00 to $1,215.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Guggenheim initiated coverage on argenex in a report on Tuesday, August 4th. They set a “buy” rating and a $1,185.00 price objective on the stock. Wedbush reissued an “outperform” rating and issued a $1,150.00 price objective on shares of argenex in a research note on Thursday, September 3rd. Finally, Bank of America boosted their target price on argenex from $1,016.00 to $1,088.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,152.56.

argenex Stock Performance

The stock has a market cap of $51.61 billion, a price-to-earnings ratio of 31.68, a price-to-earnings-growth ratio of 0.85 and a beta of 0.44. The stock’s 50-day simple moving average is $959.93 and its two-hundred day simple moving average is $876.12.

argenex (NASDAQ:ARGX) last announced its earnings results on Tuesday, July 21st. The company reported $7.32 earnings per share for the quarter, beating the consensus estimate of $5.86 by $1.46. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.45 billion. argenex had a return on equity of 43.59% and a net margin of 32.19%. As a group, research analysts predict that argenex SE will post 28.83 earnings per share for the current year.

Institutional Investors Weigh In On argenex

Several large investors have recently modified their holdings of ARGX. Eastern Bank bought a new stake in argenex during the 2nd quarter worth approximately $32,000. Whipplewood Advisors LLC acquired a new stake in argenex during the 1st quarter worth approximately $28,000. Axiom Investment Management LLC bought a new position in argenex in the first quarter valued at approximately $50,000. WPG Advisers LLC lifted its stake in argenex by 17.8% in the first quarter. WPG Advisers LLC now owns 86 shares of the company’s stock valued at $63,000 after buying an additional 13 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of argenex by 25.7% in the second quarter. Allworth Financial LP now owns 142 shares of the company’s stock valued at $132,000 after buying an additional 29 shares during the period. 60.32% of the stock is currently owned by institutional investors.

argenex Company Profile

argenx SE (NASDAQ:ARGX) is a global immunology company focused on developing and commercializing therapies for patients with severe autoimmune diseases. The company combines antibody engineering technologies with disease biology to discover medicines that target the underlying mechanisms of immune-mediated disorders.

argenx’s leading product is efgartigimod, marketed as Vyvgart and Vyvgart Hytrulo in the United States. The therapies are designed to reduce disease-causing immunoglobulin G (IgG) antibodies by targeting the neonatal Fc receptor (FcRn).