SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $57.43, but opened at $55.80. SpringWorks Therapeutics shares last traded at $55.76, with a volume of 1,374,794 shares.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the stock. Wedbush reaffirmed an "outperform" rating and set a $81.00 price objective on shares of SpringWorks Therapeutics in a research report on Thursday. Guggenheim lowered their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. HC Wainwright reaffirmed a "buy" rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a research report on Friday. Finally, Evercore ISI increased their price objective on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $71.50.
Check Out Our Latest Research Report on SpringWorks Therapeutics
SpringWorks Therapeutics Stock Performance
The company has a market cap of $4.34 billion, a PE ratio of -15.02 and a beta of 0.81. The company's 50-day simple moving average is $41.10 and its 200 day simple moving average is $37.64.
SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last issued 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). SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The business had revenue of $61.55 million during the quarter, compared to analysts' expectations of $60.53 million. Analysts forecast that SpringWorks Therapeutics, Inc. will post -3.17 EPS for the current year.
Insider Buying and Selling at SpringWorks Therapeutics
In other news, CEO Saqib Islam sold 48,000 shares of the firm's stock in a transaction 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 sale, the chief executive officer now directly owns 1,002,502 shares in the company, valued at approximately $53,433,356.60. This trade represents a 4.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Badreddin Edris sold 20,000 shares of the firm'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 completion of the sale, the chief operating officer now owns 209,600 shares in the company, valued at $8,796,912. The trade was a 8.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 313,822 shares of company stock valued at $16,802,876 in the last 90 days. Company insiders own 7.61% of the company's stock.
Institutional Investors Weigh In On SpringWorks Therapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of SWTX. Boxer Capital Management LLC acquired a new stake in shares of SpringWorks Therapeutics in the 4th quarter valued at $123,620,000. Capital International Investors raised its stake in SpringWorks Therapeutics by 92.7% during the 4th quarter. Capital International Investors now owns 2,361,746 shares of the company's stock worth $85,330,000 after acquiring an additional 1,136,079 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in SpringWorks Therapeutics by 24.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company's stock worth $86,402,000 after acquiring an additional 465,494 shares in the last quarter. Principal Financial Group Inc. raised its stake in SpringWorks Therapeutics by 102.5% during the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company's stock worth $29,427,000 after acquiring an additional 464,903 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in SpringWorks Therapeutics by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company's stock worth $258,650,000 after acquiring an additional 445,593 shares in the last quarter.
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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