Todays Report: The Argos Therapeutics Inc. (ARGS) Sees Large Volume Increase Following Insider Buying Activity

The Argos Therapeutics Inc. (ARGS) Sees Large Volume Increase Following Insider Buying Activity

Shares of Argos Therapeutics Inc. (NASDAQ:ARGS) saw strong trading volume on Friday after an insider bought additional shares in the company. 175,394 shares traded hands during mid-day trading, an increase of 10% from the previous session’s volume of 158,770 shares.The stock last traded at $4.63 and had previously closed at $4.52.

Specifically, major shareholder International S. Pharmstandard purchased 31,704 shares of the stock in a transaction that occurred on Friday, October 7th. The stock was bought at an average cost of $4.73 per share, for a total transaction of $149,959.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder International S. Pharmstandard purchased 67,371 shares of the stock in a transaction that occurred on Wednesday, August 24th. The stock was bought at an average price of $4.52 per share, with a total value of $304,516.92. The disclosure for this purchase can be found here. 61.64% of the stock is owned by corporate insiders.

A number of analysts recently issued reports on the company. Zacks Investment Research downgraded Argos Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $11.00 target price on shares of Argos Therapeutics in a research report on Monday, June 20th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Argos Therapeutics in a research report on Friday, June 17th. Finally, FBR & Co decreased their target price on Argos Therapeutics from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Thursday, August 11th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $11.50.

The stock’s market cap is $189.91 million. The company’s 50-day moving average is $4.89 and its 200 day moving average is $5.89.

Argos Therapeutics (NASDAQ:ARGS) last issued its quarterly earnings results on Wednesday, August 10th. The biopharmaceutical company reported ($0.48) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by $0.05. Equities research analysts forecast that Argos Therapeutics Inc. will post ($1.56) EPS for the current year.

Several hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. purchased a new stake in shares of Argos Therapeutics during the second quarter valued at approximately $137,000. Bridgeway Capital Management Inc. boosted its stake in shares of Argos Therapeutics by 66.9% in the second quarter. Bridgeway Capital Management Inc. now owns 135,924 shares of the biopharmaceutical company’s stock valued at $833,000 after buying an additional 54,500 shares during the last quarter. KCG Holdings Inc. purchased a new stake in shares of Argos Therapeutics during the second quarter valued at approximately $163,000. State Street Corp bought a new stake in shares of Argos Therapeutics during the second quarter valued at about $741,000. Finally, BlackRock Institutional Trust Company N.A. bought a new stake in shares of Argos Therapeutics during the second quarter valued at about $363,000. Hedge funds and other institutional investors own 11.05% of the company’s stock.

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