SpringWorks Therapeutics (NASDAQ:SWTX) Shares Down 4.8% – Should You Sell?

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) were down 4.8% on Monday . The company traded as low as $49.09 and last traded at $48.67. Approximately 127,388 shares traded hands during trading, a decline of 90% from the average daily volume of 1,252,577 shares. The stock had previously closed at $51.14.

Analyst Ratings Changes

A number of research analysts recently weighed in on SWTX shares. HC Wainwright reaffirmed a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Evercore ISI upped their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Wedbush reaffirmed an “outperform” rating and set a $81.00 price target on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. Finally, Guggenheim dropped their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, SpringWorks Therapeutics has an average rating of “Buy” and a consensus target price of $73.20.

SpringWorks Therapeutics Trading Down 1.6 %

The business has a fifty day simple moving average of $46.15 and a 200 day simple moving average of $39.26. The stock has a market capitalization of $3.67 billion, a P/E ratio of -14.09 and a beta of 0.76.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). The company had revenue of $61.55 million for the quarter, compared to the consensus estimate of $60.53 million. SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. As a group, research analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Insider Activity

In other news, COO Badreddin Edris sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $53.13, for a total value of $1,593,900.00. Following the completion of the transaction, the chief operating officer now directly owns 189,712 shares of the company’s stock, valued at $10,079,398.56. This represents a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bhavesh Ashar sold 1,016 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.19, for a total value of $62,169.04. Following the completion of the transaction, the insider now directly owns 62,053 shares of the company’s stock, valued at approximately $3,797,023.07. This represents a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 440,766 shares of company stock valued at $24,402,956 over the last three months. Corporate insiders own 7.61% of the company’s stock.

Hedge Funds Weigh In On SpringWorks Therapeutics

Institutional investors have recently modified their holdings of the business. Huntington National Bank lifted its stake in SpringWorks Therapeutics by 38.2% in the fourth quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $25,000 after purchasing an additional 192 shares during the last quarter. AlphaQuest LLC lifted its stake in SpringWorks Therapeutics by 70.2% in the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after purchasing an additional 414 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in SpringWorks Therapeutics in the fourth quarter valued at approximately $45,000. State of Wyoming lifted its stake in SpringWorks Therapeutics by 39.5% in the fourth quarter. State of Wyoming now owns 1,530 shares of the company’s stock valued at $55,000 after purchasing an additional 433 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in SpringWorks Therapeutics in the fourth quarter valued at approximately $56,000.

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.