SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) traded down 7.1% on Wednesday . The company traded as low as $33.07 and last traded at $33.17. 967,289 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 1,351,333 shares. The stock had previously closed at $35.71.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. Guggenheim reduced their price objective on SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Evercore ISI lifted their price target on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Wedbush reiterated an "outperform" rating and set a $81.00 price objective on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. Finally, HC Wainwright restated a "buy" rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Five 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 target price of $73.20.
Check Out Our Latest Stock Report on SWTX
SpringWorks Therapeutics Stock Up 2.7 %
The firm's 50-day moving average price is $48.63 and its 200 day moving average price is $40.10. The firm has a market cap of $2.81 billion, a P/E ratio of -10.76 and a beta of 0.79.
SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.38). The firm had revenue of $61.55 million during the quarter, compared to analyst estimates of $60.53 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. On average, equities analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.
Insider Buying and Selling at SpringWorks Therapeutics
In other news, CEO Saqib Islam sold 48,000 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $53.30, for a total value of $2,558,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,002,502 shares in the company, valued at $53,433,356.60. This trade represents a 4.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel Pichl sold 29,750 shares of the firm'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 transaction of $1,617,210.00. Following the transaction, the insider now owns 50,762 shares in the company, valued at $2,759,422.32. This represents a 36.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 440,766 shares of company stock valued at $24,402,956 in the last quarter. Corporate insiders own 7.61% of the company's stock.
Hedge Funds Weigh In On SpringWorks Therapeutics
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank boosted its stake in SpringWorks Therapeutics by 38.2% during the fourth quarter. Huntington National Bank now owns 694 shares of the company's stock valued at $25,000 after buying an additional 192 shares in the last quarter. AlphaQuest LLC boosted its position in shares of SpringWorks Therapeutics by 70.2% during the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company's stock valued at $36,000 after purchasing an additional 414 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of SpringWorks Therapeutics in the 4th quarter worth approximately $45,000. State of Wyoming raised its holdings in shares of SpringWorks Therapeutics by 39.5% in the 4th quarter. State of Wyoming now owns 1,530 shares of the company's stock worth $55,000 after purchasing an additional 433 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in SpringWorks Therapeutics during the fourth quarter valued at approximately $56,000.
About SpringWorks Therapeutics
(
Get Free Report)
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.
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