SpringWorks Therapeutics (NASDAQ:SWTX) Shares Down 6.4% - Time to Sell?

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) traded down 6.4% during mid-day trading on Tuesday . The company traded as low as $34.17 and last traded at $34.63. 529,996 shares changed hands during trading, a decline of 75% from the average session volume of 2,084,453 shares. The stock had previously closed at $37.01.

Analyst Upgrades and Downgrades

SWTX has been the subject of a number of recent analyst reports. Evercore ISI started coverage on SpringWorks Therapeutics in a research report on Wednesday, November 20th. They issued an "outperform" rating and a $60.00 price objective for the company. Guggenheim lowered their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. HC Wainwright cut their price objective on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a "buy" rating on the stock in a report on Tuesday, November 12th. Finally, Wedbush reiterated an "outperform" rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a research note on Monday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SpringWorks Therapeutics presently has a consensus rating of "Buy" and an average target price of $70.00.

SpringWorks Therapeutics Price Performance

The stock has a fifty day moving average of $37.97 and a 200 day moving average of $36.40. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -8.38 and a beta of 0.82.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.03. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The business had revenue of $49.10 million during the quarter, compared to analysts' expectations of $53.28 million. During the same period in the previous year, the business posted ($1.27) EPS. The business's quarterly revenue was up 4810.0% compared to the same quarter last year. As a group, equities analysts expect that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current fiscal year.

Insider Buying and Selling at SpringWorks Therapeutics

In related news, COO Badreddin Edris sold 20,000 shares of the 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 sale, the chief operating officer now directly owns 209,600 shares of the company's stock, valued at approximately $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 7.61% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Rhumbline Advisers increased its holdings in SpringWorks Therapeutics by 5.1% in the 2nd quarter. Rhumbline Advisers now owns 104,656 shares of the company's stock worth $3,942,000 after acquiring an additional 5,081 shares in the last quarter. Arizona State Retirement System raised its position in shares of SpringWorks Therapeutics by 20.3% during the 2nd quarter. Arizona State Retirement System now owns 15,491 shares of the company's stock worth $584,000 after purchasing an additional 2,618 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in SpringWorks Therapeutics by 40.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 13,568 shares of the company's stock valued at $511,000 after buying an additional 3,892 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in SpringWorks Therapeutics by 56.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 112,426 shares of the company's stock worth $4,235,000 after buying an additional 40,781 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in SpringWorks Therapeutics by 14.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 535,083 shares of the company's stock worth $20,157,000 after buying an additional 69,227 shares in the last quarter.

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.