SpringWorks Therapeutics (NASDAQ:SWTX) Stock Price Up 31.5% - Still a Buy?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) was up 31.5% on Monday . The stock traded as high as $45.50 and last traded at $52.96. Approximately 280,771 shares traded hands during trading, a decline of 84% from the average daily volume of 1,709,879 shares. The stock had previously closed at $40.28.

Analyst Ratings Changes

SWTX has been the topic of several analyst reports. Guggenheim cut their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. 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. Wedbush reissued an "outperform" rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a research note on Monday. Finally, HC Wainwright reiterated a "buy" rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a research report on Wednesday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $70.83.

SpringWorks Therapeutics Price Performance

The stock has a market capitalization of $4.36 billion, a P/E ratio of -15.10 and a beta of 0.81. The stock's fifty day moving average price is $38.69 and its 200 day moving average price is $36.56.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its quarterly earnings results 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. 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 for the quarter, compared to analyst estimates of $53.28 million. During the same period in the previous year, the company earned ($1.27) earnings per share. The business's revenue for the quarter was up 4810.0% on a year-over-year basis. On average, sell-side analysts expect that SpringWorks Therapeutics, Inc. will post -3.03 earnings per share for the current year.

Insider Transactions at SpringWorks Therapeutics

In other news, CEO Saqib Islam sold 48,000 shares of the company'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 transaction, the chief executive officer now directly owns 1,002,502 shares in the company, valued at approximately $53,433,356.60. This represents 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, COO Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock in a transaction on Tuesday, December 3rd. The stock was 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 trade represents a 8.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 302,750 shares of company stock worth $16,139,410 over the last three months. 7.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of institutional investors have recently made changes to their positions in the business. FMR LLC raised its stake in shares of SpringWorks Therapeutics by 0.3% during the third quarter. FMR LLC now owns 11,140,946 shares of the company's stock valued at $356,956,000 after purchasing an additional 28,555 shares in the last quarter. Vanguard Group Inc. grew its stake in 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 during the last quarter. Maverick Capital Ltd. grew its position in SpringWorks Therapeutics by 6.8% in the 3rd quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company's stock worth $89,018,000 after purchasing an additional 177,824 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in SpringWorks Therapeutics by 24.2% during 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 during the period. Finally, Geode Capital Management LLC grew its stake in SpringWorks Therapeutics by 7.0% during 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.

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.