argenex (NASDAQ:ARGX) Shares Gap Down – Here’s Why

argenex SE (NASDAQ:ARGX)’s share price gapped down prior to trading on Monday . The stock had previously closed at $877.94, but opened at $828.96. argenex shares last traded at $836.9040, with a volume of 99,312 shares trading hands.

Wall Street Analyst Weigh In

ARGX has been the topic of several research reports. Guggenheim restated a “buy” rating and issued a $1,070.00 price target on shares of argenex in a research note on Thursday, September 18th. Jefferies Financial Group set a $818.00 target price on shares of argenex and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Deutsche Bank Aktiengesellschaft cut shares of argenex from a “buy” rating to a “hold” rating in a report on Thursday, September 11th. HC Wainwright boosted their price target on argenex from $774.00 to $915.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, JPMorgan Chase & Co. increased their price target on argenex from $925.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $968.83.

argenex Price Performance

The stock has a 50-day simple moving average of $863.28 and a 200-day simple moving average of $718.22. The stock has a market cap of $52.10 billion, a P/E ratio of 36.35, a PEG ratio of 0.88 and a beta of 0.36.

argenex (NASDAQ:ARGX) last posted its earnings results on Thursday, October 30th. The company reported $4.40 EPS for the quarter, topping analysts’ consensus estimates of $4.37 by $0.03. argenex had a net margin of 41.58% and a return on equity of 29.78%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.07 billion. As a group, sell-side analysts forecast that argenex SE will post 3.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Allworth Financial LP grew its position in argenex by 104.0% during the 3rd quarter. Allworth Financial LP now owns 102 shares of the company’s stock worth $75,000 after acquiring an additional 52 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in argenex in the third quarter valued at about $549,000. Sunbelt Securities Inc. acquired a new stake in shares of argenex during the third quarter valued at about $36,000. Coldstream Capital Management Inc. grew its holdings in shares of argenex by 58.9% during the third quarter. Coldstream Capital Management Inc. now owns 604 shares of the company’s stock worth $445,000 after purchasing an additional 224 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of argenex by 5,725.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 233 shares of the company’s stock valued at $172,000 after buying an additional 229 shares during the period. 60.32% of the stock is currently owned by institutional investors.

argenex 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.