SpringWorks Therapeutics (NASDAQ:SWTX) Shares Gap Down – Should You Sell?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) shares gapped down before the market opened on Tuesday . The stock had previously closed at $57.43, but opened at $55.80. SpringWorks Therapeutics shares last traded at $55.76, with a volume of 1,374,794 shares trading hands.

Analyst Ratings Changes

Several research analysts recently weighed in on SWTX shares. Evercore ISI upped their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Wedbush reaffirmed an “outperform” rating and issued a $81.00 price objective on shares of SpringWorks Therapeutics in a research note on Thursday. HC Wainwright reissued a “buy” rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a research note on Wednesday, February 12th. Finally, Guggenheim dropped their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $71.50.

SpringWorks Therapeutics Stock Performance

The firm has a market cap of $4.46 billion, a PE ratio of -15.45 and a beta of 0.81. The firm has a fifty day simple moving average of $40.70 and a two-hundred day simple moving average of $37.47.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. Equities analysts forecast that SpringWorks Therapeutics, Inc. will post -3.04 EPS for the current fiscal year.

Insider Activity

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total transaction of $839,400.00. Following the transaction, the chief operating officer now owns 209,600 shares in the company, valued at $8,796,912. The trade was a 8.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel Lynch sold 175,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $54.46, for a total transaction of $9,530,500.00. Following the completion of the sale, the director now directly owns 130,944 shares in the company, valued at approximately $7,131,210.24. This represents a 57.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 313,822 shares of company stock worth $16,802,876. 7.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SWTX. Boxer Capital Management LLC bought a new stake in shares of SpringWorks Therapeutics during the 4th quarter worth approximately $123,620,000. Capital International Investors lifted its position in shares of SpringWorks Therapeutics by 92.7% during the fourth quarter. Capital International Investors now owns 2,361,746 shares of the company’s stock worth $85,330,000 after purchasing an additional 1,136,079 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of SpringWorks Therapeutics by 24.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock valued at $86,402,000 after purchasing an additional 465,494 shares during the period. Principal Financial Group Inc. grew its holdings in shares of SpringWorks Therapeutics by 102.5% in the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock worth $29,427,000 after purchasing an additional 464,903 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in SpringWorks Therapeutics by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock worth $258,650,000 after buying an additional 445,593 shares during the period.

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.