SpringWorks Therapeutics (NASDAQ:SWTX) Stock Price Down 2.5% - Time to Sell?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report)'s stock price traded down 2.5% during mid-day trading on Monday . The company traded as low as $48.57 and last traded at $48.64. 330,646 shares traded hands during trading, a decline of 74% from the average session volume of 1,265,283 shares. The stock had previously closed at $49.89.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SWTX shares. 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. Wedbush reissued an "outperform" rating and issued a $81.00 price target on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. Guggenheim reduced 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 note on Wednesday, January 8th. Finally, HC Wainwright reiterated 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 data from MarketBeat.com, SpringWorks Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $73.20.

SpringWorks Therapeutics Price Performance

The firm has a market capitalization of $3.54 billion, a PE ratio of -13.57 and a beta of 0.76. The business's 50 day moving average is $47.72 and its two-hundred day moving average is $39.68.

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SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $60.53 million. Analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current fiscal year.

Insider Transactions at SpringWorks Therapeutics

In other news, CEO Saqib Islam sold 48,000 shares of the business's 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 sale, the chief executive officer now directly owns 1,002,502 shares in the company, valued at approximately $53,433,356.60. The trade was a 4.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Pichl sold 29,750 shares of the stock in a transaction 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 directly owns 50,762 shares in the company, valued at approximately $2,759,422.32. This represents a 36.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 440,766 shares of company stock worth $24,402,956. 7.61% of the stock is currently owned by corporate insiders.

Institutional Trading of SpringWorks Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC increased its holdings in shares of SpringWorks Therapeutics by 30.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 61,760 shares of the company's stock worth $2,231,000 after buying an additional 14,548 shares during the period. Platinum Investment Management Ltd. bought a new position in SpringWorks Therapeutics during the 4th quarter worth approximately $1,694,000. Principal Financial Group Inc. increased its stake in SpringWorks Therapeutics by 20.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company's stock worth $39,882,000 after purchasing an additional 185,413 shares during the period. Ally Bridge Group NY LLC bought a new stake in SpringWorks Therapeutics in the third quarter valued at approximately $7,296,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of SpringWorks Therapeutics during the fourth quarter valued at approximately $10,527,000.

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.