argenx (NASDAQ:ARGX) Shares Down 3.3% – Time to Sell?

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

Analysts Set New Price Targets

A number of brokerages have weighed in on ARGX. Guggenheim lowered their price objective on argenx from $1,100.00 to $1,065.00 and set a “buy” rating on the stock in a report on Friday, May 9th. JMP Securities set a $699.00 price target on argenx in a research note on Wednesday, May 14th. Citigroup reiterated a “buy” rating on shares of argenx in a research report on Wednesday, May 21st. HC Wainwright restated a “buy” rating and set a $720.00 target price on shares of argenx in a research report on Tuesday, June 10th. Finally, Baird R W raised argenx from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $709.18.

argenx Price Performance

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

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, May 8th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.26. The firm had revenue of $1.35 billion for 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%. On average, sell-side analysts forecast that argenx SE will post 3.13 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. GeoWealth Management LLC increased its holdings in argenx by 56.3% in the 4th quarter. GeoWealth Management LLC now owns 50 shares of the company’s stock valued at $31,000 after purchasing an additional 18 shares in the last quarter. Rakuten Securities Inc. increased its position in shares of argenx by 56.4% during the first quarter. Rakuten Securities Inc. now owns 61 shares of the company’s stock worth $36,000 after acquiring an additional 22 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in shares of argenx in the fourth quarter worth about $37,000. WPG Advisers LLC purchased a new position in argenx in the first quarter valued at about $37,000. Finally, Global Retirement Partners LLC grew its stake in argenx by 369.2% during the 4th quarter. Global Retirement Partners LLC now owns 61 shares of the company’s stock valued at $38,000 after purchasing an additional 48 shares in the last quarter. Hedge funds and other institutional investors 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.