From the archive. This pick came before our first emailed issue. We wrote it on Nov 3, 2026 from sources published around that day, with the same checks as every issue. It isn't part of the track record.
The pick
argenx (ARGX) had the biggest jump in trading volume compared with its usual level on October 8, 2026. Volume was 9.3x its 30-day average, and the stock fell 11.83%.
What happened
On October 8, argenx announced positive topline results from a Phase 2 study of FB102 in adults with celiac disease. The company said the study met its primary endpoint, with a p-value of 0.0176.
The study enrolled 126 patients. argenx said the safety profile was consistent with prior studies, with no new safety signals. The company plans to advance FB102 into Phase 3 development.
The same morning, argenx also issued a press release titled "argenx Provides Update on Phase 3 UNITY Study of Efgartigimod SC in Sjögren's Disease."
Sources: [press release] [press release 2]
What news reports said
Yahoo Finance reported that argenx shares fell after the company discontinued a late-stage trial of its drug Vyvgart in Sjögren's disease. [Yahoo Finance]
In a separate article, Yahoo Finance reported that argenx delivered mixed clinical updates on Thursday. It described positive Phase 2 results for one candidate alongside the failure of a Phase 3 study for another therapy. [Yahoo Finance]
The numbers
- Previous close: $928.44
- Close: $818.63
- Change: -11.83%
- Volume: 2,454,224
- 30-day average volume: 263,563
- Volume multiple: 9.3x
- Behind the move: a company press release
What happened next
Measured from this day's close. Shown for every pick, good or bad. See the full track record.