SpringWorks Therapeutics (NASDAQ:SWTX) Shares Down 4.8% - Should You Sell?

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) traded down 4.8% during mid-day trading on Monday . The company traded as low as $49.09 and last traded at $48.67. 127,388 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,252,577 shares. The stock had previously closed at $51.14.

Wall Street Analysts Forecast Growth

SWTX has been the subject of a number of analyst reports. Evercore ISI lifted their price objective on SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. HC Wainwright reiterated a "buy" rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a research report on Friday, February 21st. Guggenheim reduced their price target on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Finally, Wedbush restated an "outperform" rating and set a $81.00 target price on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $73.20.

SpringWorks Therapeutics Stock Down 2.3 %

The stock has a market cap of $3.74 billion, a price-to-earnings ratio of -14.34 and a beta of 0.76. The company has a 50 day simple moving average of $46.56 and a 200 day simple moving average of $39.42.

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SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.38). The business had revenue of $61.55 million for the quarter, compared to analyst estimates of $60.53 million. SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. As a group, analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Insider Activity

In other SpringWorks Therapeutics news, insider Daniel Pichl sold 29,750 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $54.36, for a total value of $1,617,210.00. Following the completion of the transaction, the insider now owns 50,762 shares of the company's stock, valued at $2,759,422.32. The trade was a 36.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Badreddin Edris sold 30,000 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $53.13, for a total value of $1,593,900.00. Following the sale, the chief operating officer now owns 189,712 shares in the company, valued at $10,079,398.56. The trade was a 13.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 440,766 shares of company stock valued at $24,402,956 in the last ninety days. 7.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

Large investors have recently added to or reduced their stakes in the business. Huntington National Bank increased its holdings in shares of SpringWorks Therapeutics by 38.2% in the fourth quarter. Huntington National Bank now owns 694 shares of the company's stock worth $25,000 after buying an additional 192 shares during the period. AlphaQuest LLC grew its position in SpringWorks Therapeutics by 70.2% during the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company's stock worth $36,000 after acquiring an additional 414 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in SpringWorks Therapeutics in the 4th quarter worth approximately $45,000. State of Wyoming grew its stake in shares of SpringWorks Therapeutics by 39.5% in the fourth quarter. State of Wyoming now owns 1,530 shares of the company's stock worth $55,000 after purchasing an additional 433 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in SpringWorks Therapeutics during the 4th quarter valued at $56,000.

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.