argenex (NASDAQ:ARGX) Trading Down 3.3% - Time to Sell?

Shares of argenex SE (NASDAQ:ARGX - Get Free Report) dropped 3.3% on Monday . The company traded as low as $556.86 and last traded at $558.78. Approximately 178,921 shares changed hands 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

ARGX has been the topic of several research reports. Citigroup restated a "buy" rating on shares of argenex in a research note on Wednesday, May 21st. HC Wainwright restated a "buy" rating and set a $720.00 price objective on shares of argenex in a research report on Tuesday, June 10th. William Blair restated an "outperform" rating on shares of argenex in a research note on Friday, February 28th. Wells Fargo & Company lifted their price target on shares of argenex from $723.00 to $741.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Finally, Guggenheim lowered their price target on shares of argenex from $1,100.00 to $1,065.00 and set a "buy" rating on the stock in a report on Friday, May 9th. One investment analyst has rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $709.18.

argenex Stock Down 0.5%

The stock has a market cap of $32.85 billion, a P/E ratio of 33.18, a PEG ratio of 0.97 and a beta of 0.39. The stock has a fifty day simple moving average of $586.40 and a 200-day simple moving average of $609.62.

argenex (NASDAQ:ARGX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.32 by $0.26. The firm had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $748.34 million. argenex had a net margin of 40.20% and a return on equity of 16.15%. Sell-side analysts anticipate that argenex SE will post 3.13 earnings per share for the current year.

Institutional Trading of argenex

Large investors have recently made changes to their positions in the company. GeoWealth Management LLC lifted its holdings in argenex by 56.3% during the fourth quarter. GeoWealth Management LLC now owns 50 shares of the company's stock worth $31,000 after acquiring an additional 18 shares in the last quarter. Rakuten Securities Inc. lifted its position in argenex by 56.4% in the 1st quarter. Rakuten Securities Inc. now owns 61 shares of the company's stock valued at $36,000 after acquiring an additional 22 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in argenex in the 4th quarter worth $37,000. WPG Advisers LLC bought a new position in argenex during the 1st quarter worth about $37,000. Finally, Global Retirement Partners LLC raised its stake in shares of argenex by 369.2% in 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 during the period. 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.