SpringWorks Therapeutics (NASDAQ:SWTX) Trading Up 3%

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)’s share price was up 3% during trading on Friday . The stock traded as high as $43.80 and last traded at $43.74. Approximately 35,323 shares were traded during trading, a decline of 97% from the average daily volume of 1,094,321 shares. The stock had previously closed at $42.47.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SWTX shares. HC Wainwright upped their price target on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Guggenheim started coverage on shares of SpringWorks Therapeutics in a research report on Monday, February 5th. They set a “buy” rating and a $75.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Barclays increased their target price on shares of SpringWorks Therapeutics from $47.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Finally, Wedbush increased their target price on shares of SpringWorks Therapeutics from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $68.00.

SpringWorks Therapeutics Trading Down 4.5 %

The stock’s 50-day moving average is $48.10 and its 200-day moving average is $36.95. The stock has a market cap of $2.99 billion, a P/E ratio of -8.26 and a beta of 0.83.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($1.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.20). The business had revenue of $5.45 million for the quarter, compared to the consensus estimate of $1.26 million. During the same period last year, the firm earned ($1.19) earnings per share. On average, equities analysts forecast that SpringWorks Therapeutics, Inc. will post -4.71 EPS for the current year.

Insider Buying and Selling at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, insider Daniel Pichl sold 15,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $50.10, for a total value of $751,500.00. Following the completion of the sale, the insider now directly owns 45,212 shares of the company’s stock, valued at approximately $2,265,121.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.61% of the stock is owned by corporate insiders.

Institutional Trading of SpringWorks Therapeutics

A number of hedge funds have recently bought and sold shares of SWTX. JPMorgan Chase & Co. lifted its stake in SpringWorks Therapeutics by 278.5% during the first quarter. JPMorgan Chase & Co. now owns 84,665 shares of the company’s stock valued at $4,778,000 after buying an additional 62,298 shares in the last quarter. MetLife Investment Management LLC lifted its stake in SpringWorks Therapeutics by 52.4% during the first quarter. MetLife Investment Management LLC now owns 16,081 shares of the company’s stock valued at $908,000 after buying an additional 5,529 shares in the last quarter. Rhumbline Advisers lifted its stake in SpringWorks Therapeutics by 3.7% during the first quarter. Rhumbline Advisers now owns 30,629 shares of the company’s stock valued at $1,729,000 after buying an additional 1,101 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of SpringWorks Therapeutics by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 195,539 shares of the company’s stock worth $11,040,000 after purchasing an additional 3,296 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of SpringWorks Therapeutics by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,880,986 shares of the company’s stock worth $162,602,000 after purchasing an additional 18,674 shares in the last quarter.

About SpringWorks Therapeutics

SpringWorks Therapeutics, Inc, a commercial-stage biopharmaceutical company, engages in the development and commercialization of medicines for underserved patient populations suffering from rare diseases and cancer. Its lead product candidate is OGSIVEO (nirogacestat), an oral small molecule gamma secretase inhibitor that is in Phase III DeFi trial for the treatment of desmoid tumors; and Nirogacestat, is also in Phase 2 clinical development as a monotherapy for the treatment of ovarian granulosa cell tumors (GCT), a subtype of ovarian cancer.