SpringWorks Therapeutics (NASDAQ:SWTX) Trading Up 3%

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)’s share price traded up 3% during mid-day trading on Friday . The stock traded as high as $43.80 and last traded at $43.74. 35,323 shares were traded during trading, a decline of 97% from the average session volume of 1,094,321 shares. The stock had previously closed at $42.47.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Barclays boosted their target price on SpringWorks Therapeutics from $47.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. HC Wainwright lifted their price objective on SpringWorks Therapeutics from $73.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. lifted their price objective on SpringWorks Therapeutics from $73.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Guggenheim initiated coverage on SpringWorks Therapeutics in a report on Monday, February 5th. They set a “buy” rating and a $75.00 price objective on the stock. Finally, Wedbush lifted their price objective on SpringWorks Therapeutics from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, SpringWorks Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $68.00.

SpringWorks Therapeutics Trading Down 4.5 %

The stock has a market cap of $2.99 billion, a P/E ratio of -8.26 and a beta of 0.83. The company has a 50 day simple moving average of $48.10 and a 200 day simple moving average of $36.95.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Tuesday, February 27th. The company reported ($1.44) EPS for the quarter, missing the consensus estimate of ($1.24) by ($0.20). The business had revenue of $5.45 million during the quarter, compared to analysts’ expectations of $1.26 million. During the same quarter last year, the firm earned ($1.19) EPS. As a group, sell-side analysts expect that SpringWorks Therapeutics, Inc. will post -4.71 earnings per share for the current year.

Insider Transactions at SpringWorks Therapeutics

In other news, insider Daniel Pichl sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $50.10, for a total transaction of $751,500.00. Following the sale, the insider now owns 45,212 shares in the company, valued at approximately $2,265,121.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 7.61% of the company’s stock.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in SWTX. State Street Corp increased its holdings in shares of SpringWorks Therapeutics by 143.7% during the 2nd quarter. State Street Corp now owns 3,889,249 shares of the company’s stock worth $95,753,000 after acquiring an additional 2,293,359 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of SpringWorks Therapeutics by 310.7% during the 4th quarter. Point72 Asset Management L.P. now owns 2,162,176 shares of the company’s stock worth $78,919,000 after acquiring an additional 1,635,722 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of SpringWorks Therapeutics by 78.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,776,570 shares of the company’s stock worth $101,346,000 after acquiring an additional 1,221,056 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of SpringWorks Therapeutics by 22.6% during the 4th quarter. Vanguard Group Inc. now owns 6,036,542 shares of the company’s stock worth $220,334,000 after acquiring an additional 1,114,080 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in SpringWorks Therapeutics by 31.3% in the 2nd quarter. BlackRock Inc. now owns 4,259,391 shares of the company’s stock valued at $111,681,000 after buying an additional 1,015,359 shares in the last quarter.

About SpringWorks Therapeutics

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.