SpringWorks Therapeutics (NASDAQ:SWTX) Trading 5.5% Higher - Time to Buy?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report)'s stock price shot up 5.5% during trading on Wednesday . The stock traded as high as $44.19 and last traded at $44.18. 330,620 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 1,305,226 shares. The stock had previously closed at $41.88.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SWTX. Evercore ISI increased their price objective on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Guggenheim decreased their target price 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 issued a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Finally, 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. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $73.20.

SpringWorks Therapeutics Stock Down 5.4 %

The company's 50-day simple moving average is $48.71 and its 200-day simple moving average is $40.00. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -10.62 and a beta of 0.79.

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SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released 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). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The company had revenue of $61.55 million during the quarter, compared to analyst estimates of $60.53 million. As a group, analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Daniel Pichl sold 29,750 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.36, for a total transaction of $1,617,210.00. Following the transaction, the insider now directly owns 50,762 shares of the company's stock, valued at approximately $2,759,422.32. The trade was a 36.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Saqib Islam sold 48,000 shares of SpringWorks Therapeutics stock in a transaction dated 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 transaction, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 440,766 shares of company stock worth $24,402,956. Corporate insiders own 7.61% of the company's stock.

Institutional Trading of SpringWorks Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of SpringWorks Therapeutics by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company's stock valued at $258,650,000 after buying an additional 445,593 shares in the last quarter. Boxer Capital Management LLC bought a new position in shares of SpringWorks Therapeutics during the 4th quarter valued at $123,620,000. Pictet Asset Management Holding SA boosted its holdings in SpringWorks Therapeutics by 24.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company's stock worth $86,402,000 after purchasing an additional 465,494 shares in the last quarter. Capital International Investors raised its holdings in SpringWorks Therapeutics by 92.7% during the fourth quarter. Capital International Investors now owns 2,361,746 shares of the company's stock valued at $85,330,000 after buying an additional 1,136,079 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of SpringWorks Therapeutics by 7.0% in the third quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company's stock worth $53,526,000 after buying an additional 109,189 shares during the last quarter.

SpringWorks Therapeutics Company Profile

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.