SpringWorks Therapeutics (NASDAQ:SWTX) Shares Gap Up - Should You Buy?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $53.41, but opened at $55.20. SpringWorks Therapeutics shares last traded at $55.33, with a volume of 606,994 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SWTX. Wedbush reaffirmed an "outperform" rating and set a $81.00 price objective on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. Evercore ISI increased their price objective 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. Guggenheim decreased their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, SpringWorks Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $73.20.

SpringWorks Therapeutics Price Performance

The business's 50 day simple moving average is $43.58 and its 200 day simple moving average is $38.58. The company has a market capitalization of $3.85 billion, a PE ratio of -14.76 and a beta of 0.81.

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

Insider Buying and Selling at SpringWorks Therapeutics

In related news, COO Badreddin Edris sold 30,000 shares of SpringWorks Therapeutics stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now owns 189,712 shares in the company, valued at approximately $10,079,398.56. The trade was a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel Lynch sold 175,000 shares of SpringWorks Therapeutics stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $54.46, for a total transaction of $9,530,500.00. Following the completion of the transaction, the director now owns 130,944 shares of the company's stock, valued at $7,131,210.24. This trade represents a 57.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 371,766 shares of company stock worth $20,660,596 over the last three months. Insiders own 7.61% of the company's stock.

Institutional Inflows and Outflows

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