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

argenex SE (NASDAQ:ARGX) shares gapped down before the market opened 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 traded.

Analysts Set New Price Targets

A number of research firms have commented on ARGX. Zacks Research lowered argenex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. TD Cowen upped their target price on argenex from $800.00 to $1,146.00 and gave the company a “buy” rating in a report on Friday, October 31st. Deutsche Bank Aktiengesellschaft cut shares of argenex from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. Citigroup boosted their price objective on argenex from $1,041.00 to $1,124.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Finally, Wedbush upped their target price on argenex from $880.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $968.83.

argenex Stock Performance

The company has a 50 day moving average price of $863.28 and a 200 day moving average price of $718.22. The company has a market capitalization of $52.10 billion, a price-to-earnings ratio of 36.35, a P/E/G ratio of 0.88 and a beta of 0.36.

argenex (NASDAQ:ARGX) last announced its quarterly earnings results on Thursday, October 30th. The company reported $4.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.37 by $0.03. argenex had a return on equity of 29.78% and a net margin of 41.58%.The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. Research analysts forecast that argenex SE will post 3.13 EPS for the current year.

Institutional Trading of argenex

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital World Investors lifted its stake in shares of argenex by 0.4% in the third quarter. Capital World Investors now owns 1,959,504 shares of the company’s stock valued at $1,445,113,000 after buying an additional 8,422 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of argenex by 80.1% in the 3rd quarter. Wellington Management Group LLP now owns 729,986 shares of the company’s stock worth $538,408,000 after acquiring an additional 324,653 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of argenex by 1.9% in the 3rd quarter. Bank of America Corp DE now owns 342,379 shares of the company’s stock worth $252,525,000 after acquiring an additional 6,259 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in argenex by 114.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 297,113 shares of the company’s stock valued at $163,775,000 after acquiring an additional 158,476 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in argenex by 570.3% during the 3rd quarter. Two Sigma Investments LP now owns 294,160 shares of the company’s stock valued at $216,961,000 after purchasing an additional 250,278 shares during the last quarter. Institutional investors own 60.32% of the company’s stock.

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.