Why is Argos Therapeutics Inc (ARGS) Stock Soaring on Such High Volume? Technicals Alone?


Shares of Argos Therapeutics Inc (NASDAQ:ARGS) are up a ton today in late morning trading. The stock is skyrocketing on no news, leading some investors to believe that this is making a move on technical analysis alone, and others to consider shorting the stock hoping it will ease back down.

Late last week, there were many insiders buying up shares of Argos Therapeutics Inc (NASDAQ:ARGS) at relatively low prices when compared to the 52-week high of $10.56 per share. Could someone know something or is this large runup in price simply due to technicals alone? It’s really hard to tell, but by looking at the volume, there are certainly a good amount of investors taking part in today’s action.

The stock is up 37.56% or $0.77 following the news, hitting $2.82 per share. About 167,765 shares traded hands or up 187.00% from the average. ARGS has declined 73.34% since May 19, 2015 and is currently downtrending. It has underperformed the S&P500 by 71.08%.

From a total of 2 analysts covering Argos Therapeutics (NASDAQ:ARGS) stock, 2 rate it a “Buy”, 0 a “Sell”, and 0 a “Hold”. This means that 100% of the ratings are positive. The highest target price is $17 while the lowest target price is $14. The mean of all analyst targets is $15.50 which is 449.65% above today’s ($2.82) stock price. Argos Therapeutics was the topic of 2 analyst reports since November 16, 2015 according to the firm StockzIntelligence Inc. Needham maintained shares on November 17 with a “Buy” rating.

The institutional sentiment increased to 2.6 in Q2 2015. It’s up 2.10, from 0.5 in 2015Q2. The ratio improved, as 0 funds sold all their Argos Therapeutics Inc shares they owned while 5 reduced their positions. 5 funds bought stakes while 8 increased their total positions. Institutions now own 9.12 million shares which is 102.89% more than the previous share count of 4.50 million in 2015Q2.

Awm Investment Company Inc. holds 0.68% of its total portfolio in Argos Therapeutics Inc, equating to 719,305 shares. Wall Street Associates owns 257,900 shares representing 0.24% of their total US portfolio. Moreover, Wasatch Advisors Inc has 0.15% of their total portfolio invested in the company, equating to 2.30 million shares. The Virginia-based Pinnacle Summer Investments Inc. has a total of 0.06% of their portfolio invested in the stock. Altrinsic Global Advisors Llc, a Connecticut-based fund reported 212,505 shares owned.

Argos Therapeutics, Inc. is a biopharmaceutical firm focused on the development and commercialization of personalized immunotherapies for the treatment of cancer and infectious diseases based on its technology platform called Arcelis. The company has a market cap of $47.95 million. The Company’s advanced product candidate is AGS-003, which the Company is developing for the treatment of metastatic renal cell carcinoma (mRCC) and other cancers. It currently has negative earnings. The Firm is also developing AGS-004, its second Arcelis product candidate, for the treatment of Human Immunodeficiency Virus (HIV).