argenx (NASDAQ:ARGX) Stock Price Down 3.4%

argenx SE (NASDAQ:ARGX)’s stock price was down 3.4% on Tuesday . The company traded as low as $518.27 and last traded at $519.59. Approximately 162,861 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 323,167 shares. The stock had previously closed at $537.94.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ARGX shares. Morgan Stanley lowered their target price on argenx from $515.00 to $510.00 and set an “overweight” rating for the company in a research note on Tuesday, May 28th. William Blair restated a “market perform” rating on shares of argenx in a report on Monday, June 17th. Wells Fargo & Company increased their target price on argenx from $543.00 to $547.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft upgraded shares of argenx from a “hold” rating to a “buy” rating in a research note on Thursday, July 25th. Finally, Evercore ISI increased their price objective on shares of argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a research note on Friday, July 12th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $547.74.

argenx Price Performance

The company has a fifty day moving average price of $507.23 and a 200 day moving average price of $429.13. The company has a market capitalization of $31.04 billion, a P/E ratio of -92.27 and a beta of 0.62.

argenx (NASDAQ:ARGX) last issued its earnings results on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of ($0.89) by $1.34. argenx had a negative return on equity of 7.33% and a negative net margin of 12.31%. The firm had revenue of $489.43 million for the quarter, compared to analyst estimates of $436.66 million. During the same period last year, the company earned ($1.69) earnings per share. On average, equities research analysts predict that argenx SE will post -0.37 earnings per share for the current fiscal year.

Institutional Trading of argenx

Several hedge funds have recently bought and sold shares of ARGX. Blue Trust Inc. grew its position in argenx by 620.0% in the 2nd quarter. Blue Trust Inc. now owns 72 shares of the company’s stock worth $28,000 after purchasing an additional 62 shares during the last quarter. J.Safra Asset Management Corp boosted its position in shares of argenx by 590.0% during the second quarter. J.Safra Asset Management Corp now owns 69 shares of the company’s stock worth $30,000 after buying an additional 59 shares during the period. GAMMA Investing LLC grew its holdings in argenx by 420.0% in the 1st quarter. GAMMA Investing LLC now owns 78 shares of the company’s stock worth $31,000 after buying an additional 63 shares in the last quarter. Mather Group LLC. acquired a new stake in argenx in the 1st quarter valued at approximately $38,000. Finally, Point72 Hong Kong Ltd acquired a new stake in argenx in the 2nd quarter valued at approximately $76,000. 60.32% of the stock is currently owned by institutional investors.

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.