SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Receives Average Rating of "Buy" from Brokerages

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) has earned an average recommendation of "Buy" from the six ratings firms that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have covered the stock in the last year is $70.83.

Several equities research analysts have weighed in on the company. Guggenheim dropped their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Evercore ISI lifted their price objective on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. HC Wainwright restated a "buy" rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a research report on Wednesday, February 12th. Finally, Wedbush reaffirmed an "outperform" rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a report on Monday, February 10th.

SpringWorks Therapeutics Stock Down 2.0 %

Shares of NASDAQ:SWTX traded down $1.16 during trading on Friday, hitting $57.43. 2,778,360 shares of the company traded hands, compared to its average volume of 1,684,477. SpringWorks Therapeutics has a one year low of $28.21 and a one year high of $60.00. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of -14.80 and a beta of 0.81. The business's fifty day moving average is $39.35 and its 200-day moving average is $36.86.

Insider Activity

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total transaction of $839,400.00. Following the sale, the chief operating officer now directly owns 209,600 shares of the company's stock, valued at $8,796,912. The trade was a 8.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel Pichl sold 29,750 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.36, for a total value of $1,617,210.00. Following the completion of the sale, the insider now directly owns 50,762 shares of the company's stock, valued at approximately $2,759,422.32. This represents a 36.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 302,750 shares of company stock valued at $16,139,410 over the last three months. Insiders own 7.61% of the company's stock.

Institutional Trading of SpringWorks Therapeutics

Large investors have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in 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 purchasing an additional 28,555 shares during the last quarter. Vanguard Group Inc. raised its position in shares of SpringWorks Therapeutics by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company's stock valued at $258,650,000 after purchasing an additional 445,593 shares during the period. Boxer Capital Management LLC acquired a new stake in shares of SpringWorks Therapeutics in the fourth quarter worth $123,620,000. Maverick Capital Ltd. boosted its holdings 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 buying an additional 177,824 shares during the period. Finally, Pictet Asset Management Holding SA grew its stake in SpringWorks Therapeutics by 24.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company's stock valued at $86,402,000 after buying an additional 465,494 shares during 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.