SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report)'s share price shot up 4.3% during trading on Thursday . The company traded as high as $35.39 and last traded at $34.93. 79,383 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 2,078,942 shares. The stock had previously closed at $33.48.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on SWTX shares. Wedbush reaffirmed an "outperform" rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Monday. HC Wainwright dropped their target price on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a "buy" rating for the company in a report on Tuesday, November 12th. Guggenheim reduced their price target 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. Finally, Evercore ISI started coverage on SpringWorks Therapeutics in a report on Wednesday, November 20th. They issued an "outperform" rating and a $60.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $70.00.
Read Our Latest Report on SWTX
SpringWorks Therapeutics Stock Down 2.7 %
The firm's fifty day simple moving average is $38.03 and its 200-day simple moving average is $36.37. The company has a market cap of $2.58 billion, a PE ratio of -8.93 and a beta of 0.82.
SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.03. The firm had revenue of $49.10 million during the quarter, compared to the consensus estimate of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The company's quarterly revenue was up 4810.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.27) EPS. On average, analysts predict that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current year.
Insider Activity
In other news, COO Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock in a transaction dated 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 directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 7.61% of the company's stock.
Hedge Funds Weigh In On SpringWorks Therapeutics
Several institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in SpringWorks Therapeutics by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company's stock valued at $87,000 after acquiring an additional 474 shares during the last quarter. Quantbot Technologies LP purchased a new position in SpringWorks Therapeutics during the third quarter worth about $147,000. Quarry LP boosted its stake in SpringWorks Therapeutics by 56.3% in the 2nd quarter. Quarry LP now owns 5,000 shares of the company's stock worth $188,000 after buying an additional 1,800 shares during the last quarter. Park Avenue Securities LLC acquired a new position in shares of SpringWorks Therapeutics during the 4th quarter valued at about $203,000. Finally, Commerce Bank purchased a new position in shares of SpringWorks Therapeutics during the 3rd quarter worth about $207,000.
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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