SpringWorks Therapeutics (NASDAQ:SWTX) Stock Price Down 6.4% – Time to Sell?

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) fell 6.4% during mid-day trading on Tuesday . The stock traded as low as $34.17 and last traded at $34.63. 529,996 shares were traded during mid-day trading, a decline of 75% from the average session volume of 2,084,453 shares. The stock had previously closed at $37.01.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SWTX shares. Wedbush reissued an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a research report on Monday. Guggenheim decreased their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. HC Wainwright reduced their target price on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, Evercore ISI began coverage on SpringWorks Therapeutics in a research note on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price objective on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat, SpringWorks Therapeutics has a consensus rating of “Buy” and an average target price of $70.00.

SpringWorks Therapeutics Stock Performance

The firm has a 50-day moving average price of $37.95 and a 200 day moving average price of $36.44. The stock has a market capitalization of $2.54 billion, a P/E ratio of -8.80 and a beta of 0.82.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.03. The company had revenue of $49.10 million during the quarter, compared to analysts’ expectations of $53.28 million. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The firm’s revenue was up 4810.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.27) EPS. On average, equities analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current fiscal year.

Insider Buying and Selling at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total value of $839,400.00. Following the sale, the chief operating officer now owns 209,600 shares in the company, valued at approximately $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.61% of the company’s stock.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of institutional investors have recently modified their holdings of SWTX. Mirae Asset Global Investments Co. Ltd. grew its position in SpringWorks Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after purchasing an additional 474 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of SpringWorks Therapeutics during the third quarter valued at approximately $147,000. Quarry LP increased its position in shares of SpringWorks Therapeutics by 56.3% during the second quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $188,000 after acquiring an additional 1,800 shares in the last quarter. Park Avenue Securities LLC purchased a new position in SpringWorks Therapeutics in the 4th quarter worth approximately $203,000. Finally, Commerce Bank bought a new position in SpringWorks Therapeutics in the 3rd quarter valued at approximately $207,000.

SpringWorks Therapeutics Company Profile

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.