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

argenx SE (NASDAQ:ARGX) gapped down before the market opened on Friday . The stock had previously closed at $595.04, but opened at $572.41. argenx shares last traded at $571.79, with a volume of 103,579 shares traded.

Analyst Ratings Changes

Several research firms have recently weighed in on ARGX. Truist Financial lifted their price objective on argenx from $540.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. William Blair raised shares of argenx from a “market perform” rating to an “outperform” rating in a research note on Friday, November 1st. Raymond James reissued a “strong-buy” rating and set a $605.00 price objective on shares of argenx in a research report on Thursday, October 10th. Wolfe Research raised shares of argenx from a “peer perform” rating to an “outperform” rating and set a $697.00 price objective on the stock in a research report on Tuesday, November 12th. Finally, Guggenheim upped their target price on shares of argenx from $585.00 to $665.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, argenx presently has an average rating of “Moderate Buy” and a consensus price target of $619.79.

argenx Stock Down 5.2 %

The stock’s fifty day moving average is $552.89 and its two-hundred day moving average is $481.96. The firm has a market capitalization of $33.74 billion, a price-to-earnings ratio of -641.16 and a beta of 0.61.

argenx (NASDAQ:ARGX) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $0.10 by $1.29. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The company had revenue of $588.88 million for the quarter, compared to analyst estimates of $543.29 million. During the same period in the previous year, the business earned ($1.25) EPS. As a group, analysts anticipate that argenx SE will post 2.2 EPS for the current year.

Institutional Trading of argenx

A number of hedge funds have recently made changes to their positions in the business. Blue Trust Inc. raised its stake in argenx by 620.0% in the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock valued at $28,000 after acquiring an additional 62 shares during the period. J.Safra Asset Management Corp raised its position in shares of argenx by 590.0% in the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock valued at $30,000 after purchasing an additional 59 shares during the period. GAMMA Investing LLC lifted its stake in shares of argenx by 51.3% during the 2nd quarter. GAMMA Investing LLC now owns 118 shares of the company’s stock worth $51,000 after buying an additional 40 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of argenx during the 2nd quarter worth about $76,000. Finally, Cromwell Holdings LLC grew its stake in argenx by 73.3% in the 3rd quarter. Cromwell Holdings LLC now owns 156 shares of the company’s stock valued at $85,000 after buying an additional 66 shares during the last quarter. 60.32% of the stock is owned by institutional investors and hedge funds.

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.