argenx Falls After Phase 3 Sjögren’s Study Is Stopped for Futility

argenx SE (ARGX) is down 13.8% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is argenx’s decision to discontinue the Phase 3 UNITY study of subcutaneous efgartigimod in moderate-to-severe Sjögren’s disease after an interim review found the trial was unlikely to hit its main goal. For investors, that removes a potential label expansion opportunity for VYVGART in a large autoimmune indication, which appears to have outweighed other pipeline updates released the same day.

Details:

argenx said it will stop the Phase 3 UNITY trial in Sjögren’s disease after an Independent Data Monitoring Committee recommended halting the study for futility.

The company said the interim analysis indicated the study was unlikely to meet its primary endpoint, which was change in systemic disease activity at Week 48.

argenx also said no new safety signals were identified, suggesting the setback was tied to efficacy rather than an unexpected tolerability problem.

On the same day, argenx reported positive Phase 2 topline results for FB102 in celiac disease and said it plans to move that program into Phase 3, but that positive update was not enough to offset the Sjögren’s disappointment.

Sources:

argenx, ClinicalTrials.gov, MarketScreener

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

EARLY ACCESS

Receive ARGX Data Alerts

Real-time alerts on filings, insider trades, and market signals — before everyone else.

Get Alerts →

$ARGX Hedge Fund Activity

We have seen 250 institutional investors add shares of $ARGX stock to their portfolio, and 205 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

PRICE T ROWE ASSOCIATES INC /MD/ removed 696,908 shares (-20.6%) from their portfolio in Q2 2026, for an estimated $646,570,335
FMR LLC added 240,418 shares (+4.8%) to their portfolio in Q2 2026, for an estimated $223,052,607
BESSEMER GROUP INC added 203,528 shares (+316.8%) to their portfolio in Q2 2026, for an estimated $188,827,172
INVESCO LTD. removed 150,707 shares (-25.3%) from their portfolio in Q2 2026, for an estimated $139,821,433
BARCLAYS PLC added 128,927 shares (+2344.1%) to their portfolio in Q2 2026, for an estimated $119,614,602
FIERA CAPITAL CORP removed 126,775 shares (-58.4%) from their portfolio in Q2 2026, for an estimated $117,618,041
WELLINGTON MANAGEMENT GROUP LLP removed 90,909 shares (-8.9%) from their portfolio in Q2 2026, for an estimated $84,342,642

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$ARGX Price Targets

Multiple analysts have issued price targets for $ARGX recently. We have seen 8 analysts offer price targets for $ARGX in the last 6 months, with a median target of $1073.5.

Here are some recent targets:

Luca Issi from RBC Capital set a target price of $945.0 on 07/07/2026
Tazeen Ahmad from B of A Securities set a target price of $1088.0 on 07/02/2026
Douglas Tsao from HC Wainwright & Co. set a target price of $940.0 on 06/25/2026
Matthew Harrison from Morgan Stanley set a target price of $1180.0 on 06/24/2026
David Nierengarten from Wedbush set a target price of $1000.0 on 06/11/2026
Derek Archila from Wells Fargo set a target price of $1291.0 on 06/01/2026
Gavin Clark-Gartner from Evercore ISI Group set a target price of $1059.0 on 05/15/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.