SpringWorks Therapeutics (NASDAQ:SWTX) Trading 9.4% Higher

Shares of SpringWorks Therapeutics (NASDAQ:SWTX) traded up 9.4% during trading on Wednesday . The company traded as high as $34.35 and last traded at $33.30, 169,200 shares traded hands during trading. An increase of 62% from the average session volume of 104,163 shares. The stock had previously closed at $30.45.

A number of analysts have recently commented on the stock. Cowen reissued a “buy” rating on shares of SpringWorks Therapeutics in a research note on Monday, January 13th. HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of SpringWorks Therapeutics in a research note on Monday, February 3rd. Finally, Zacks Investment Research cut shares of SpringWorks Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. SpringWorks Therapeutics presently has an average rating of “Buy” and an average price target of $35.50.

The stock has a 50-day moving average price of $35.18.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($1.30). Equities analysts expect that SpringWorks Therapeutics will post -2.44 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Perceptive Advisors LLC increased its position in shares of SpringWorks Therapeutics by 3.7% in the 4th quarter. Perceptive Advisors LLC now owns 3,337,522 shares of the company’s stock valued at $1,288,461,000 after purchasing an additional 120,000 shares during the last quarter. BVF Inc. IL increased its position in shares of SpringWorks Therapeutics by 8.3% in the 4th quarter. BVF Inc. IL now owns 3,079,155 shares of the company’s stock valued at $118,517,000 after purchasing an additional 235,010 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of SpringWorks Therapeutics in the 4th quarter valued at approximately $64,000. Bank of New York Mellon Corp purchased a new stake in shares of SpringWorks Therapeutics in the 4th quarter valued at approximately $1,004,000. Finally, ArrowMark Colorado Holdings LLC increased its position in shares of SpringWorks Therapeutics by 11.8% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 458,078 shares of the company’s stock valued at $17,631,000 after purchasing an additional 48,186 shares during the last quarter. Hedge funds and other institutional investors own 72.16% of the company’s stock.

About SpringWorks Therapeutics (NASDAQ:SWTX)

SpringWorks Therapeutics, Inc, a clinical-stage biopharmaceutical company, acquires, develops, and commercializes medicines for underserved patient populations suffering from rare diseases and cancer. Its advanced product candidate is nirogacestat, an oral small molecule gamma secretase inhibitor that is in Phase 3 clinical trials for the treatment of desmoid tumors.

Featured Article: Percentage Decliners

Receive News & Ratings for SpringWorks Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SpringWorks Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.