SpringWorks Therapeutics (NASDAQ:SWTX) Trading 5.5% Higher – What’s Next?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) shares traded up 5.5% on Wednesday . The stock traded as high as $44.19 and last traded at $44.18. 330,620 shares were traded during trading, a decline of 75% from the average session volume of 1,305,226 shares. The stock had previously closed at $41.88.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SWTX shares. Wedbush restated an “outperform” rating and issued a $81.00 target price on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. HC Wainwright restated a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Guggenheim reduced their price objective on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Evercore ISI raised their target price on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, SpringWorks Therapeutics has an average rating of “Buy” and an average target price of $73.20.

SpringWorks Therapeutics Trading Up 11.0 %

The firm has a 50 day moving average price of $48.28 and a 200 day moving average price of $39.84. The stock has a market capitalization of $3.48 billion, a PE ratio of -13.36 and a beta of 0.76.

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

Insider Buying and Selling

In other SpringWorks Therapeutics news, CEO Saqib Islam sold 49,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $54.24, for a total value of $2,657,760.00. Following the completion of the transaction, the chief executive officer now directly owns 954,869 shares in the company, valued at $51,792,094.56. This represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel Lynch sold 175,000 shares of the stock in a transaction on Monday, February 10th. The stock was 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 of the company’s stock, valued at approximately $7,131,210.24. This trade represents a 57.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 440,766 shares of company stock valued at $24,402,956. 7.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

Large investors have recently made changes to their positions in the business. Huntington National Bank grew its position in shares of SpringWorks Therapeutics by 38.2% during the fourth quarter. Huntington National Bank now owns 694 shares of the company’s stock worth $25,000 after purchasing an additional 192 shares in the last quarter. AlphaQuest LLC boosted its stake in SpringWorks Therapeutics by 70.2% in the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after purchasing an additional 414 shares during the period. Venturi Wealth Management LLC purchased a new stake in SpringWorks Therapeutics during the 4th quarter valued at approximately $45,000. State of Wyoming raised its position in shares of SpringWorks Therapeutics by 39.5% during the fourth quarter. State of Wyoming now owns 1,530 shares of the company’s stock valued at $55,000 after buying an additional 433 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in shares of SpringWorks Therapeutics in the fourth quarter worth $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.