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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $41.63, but opened at $39.60. SpringWorks Therapeutics shares last traded at $39.75, with a volume of 18,716 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SWTX shares. JPMorgan Chase & Co. upped their price objective on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Wedbush restated an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a research report on Monday, November 18th. Evercore ISI initiated coverage on SpringWorks Therapeutics in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price objective on the stock. Finally, HC Wainwright decreased their target price on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $69.50.

SpringWorks Therapeutics Trading Up 0.6 %

The stock has a market cap of $2.98 billion, a PE ratio of -10.24 and a beta of 0.86. The business has a 50-day moving average price of $34.67 and a 200-day moving average price of $36.63.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.03. The company had revenue of $49.10 million for the quarter, compared to analyst estimates of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The firm’s revenue for the quarter was up 4810.0% on a year-over-year basis. During the same quarter last year, the firm posted ($1.27) EPS. Equities analysts expect that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current year.

Insider Buying and Selling at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total value of $839,400.00. Following the completion of the sale, the chief operating officer now directly owns 209,600 shares of the company’s stock, valued at $8,796,912. This trade represents a 8.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.61% of the stock is currently owned by insiders.

Institutional Trading of SpringWorks Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its stake in shares of SpringWorks Therapeutics by 0.3% in the 3rd quarter. FMR LLC now owns 11,140,946 shares of the company’s stock worth $356,956,000 after acquiring an additional 28,555 shares during the last quarter. Maverick Capital Ltd. increased its position in shares of SpringWorks Therapeutics by 6.8% during the 3rd quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock worth $89,018,000 after purchasing an additional 177,824 shares during the last quarter. Geode Capital Management LLC increased its position in shares of SpringWorks Therapeutics by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company’s stock worth $53,526,000 after purchasing an additional 109,189 shares during the last quarter. Fiera Capital Corp increased its position in shares of SpringWorks Therapeutics by 41.4% during the 2nd quarter. Fiera Capital Corp now owns 1,297,302 shares of the company’s stock worth $48,869,000 after purchasing an additional 380,027 shares during the last quarter. Finally, Duquesne Family Office LLC acquired a new stake in shares of SpringWorks Therapeutics during the 2nd quarter worth about $38,475,000.

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.