SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) fell 4.8% during mid-day trading on Tuesday . The company traded as low as $71.49 and last traded at $71.63. 6,071 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 379,055 shares. The stock had previously closed at $75.24.
A number of equities analysts have commented on SWTX shares. Zacks Investment Research lowered SpringWorks Therapeutics from a “buy” rating to a “sell” rating in a research note on Wednesday, March 3rd. Barclays upped their price objective on shares of SpringWorks Therapeutics from $92.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, February 26th. JPMorgan Chase & Co. raised their target price on shares of SpringWorks Therapeutics from $57.00 to $85.00 in a report on Thursday, December 17th. HC Wainwright upped their price target on shares of SpringWorks Therapeutics from $101.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, March 3rd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $112.00 price target on shares of SpringWorks Therapeutics in a research report on Monday, March 29th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $95.67.
The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of -40.38 and a beta of 0.92. The business’s 50 day moving average price is $76.68 and its two-hundred day moving average price is $70.08.
SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Thursday, February 25th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.32. The company had revenue of $35.00 million during the quarter, compared to analyst estimates of $35.00 million. As a group, equities analysts expect that SpringWorks Therapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.
In related news, COO Badreddin Edris sold 32,000 shares of the business’s stock in a transaction on Monday, January 25th. The shares were sold at an average price of $84.07, for a total value of $2,690,240.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Saqib Islam sold 60,301 shares of the stock in a transaction on Tuesday, January 19th. The shares were sold at an average price of $78.54, for a total value of $4,736,040.54. Following the completion of the sale, the chief executive officer now owns 1,225,196 shares of the company’s stock, valued at $96,226,893.84. The disclosure for this sale can be found here. Insiders sold 102,301 shares of company stock valued at $8,213,281 over the last quarter. Corporate insiders own 51.19% of the company’s stock.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of SpringWorks Therapeutics by 68.3% in the fourth quarter. BlackRock Inc. now owns 2,246,143 shares of the company’s stock worth $162,890,000 after acquiring an additional 911,500 shares during the period. Victory Capital Management Inc. raised its holdings in SpringWorks Therapeutics by 19.3% during the 4th quarter. Victory Capital Management Inc. now owns 647,904 shares of the company’s stock worth $46,986,000 after purchasing an additional 104,920 shares during the last quarter. Norges Bank acquired a new position in shares of SpringWorks Therapeutics in the 4th quarter worth approximately $34,156,000. Artal Group S.A. boosted its stake in shares of SpringWorks Therapeutics by 57.9% in the 4th quarter. Artal Group S.A. now owns 450,000 shares of the company’s stock valued at $32,634,000 after purchasing an additional 165,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of SpringWorks Therapeutics in the 4th quarter valued at $23,655,000. 76.25% of the stock is owned by institutional investors.
About SpringWorks Therapeutics (NASDAQ:SWTX)
SpringWorks Therapeutics, Inc, a clinical-stage biopharmaceutical company, acquires, develops, and commercializes medicines for underserved patient populations suffering from rare diseases and cancer. Its lead product candidate is nirogacestat, an oral small molecule gamma secretase inhibitor that is in Phase 3 clinical trials for the treatment of desmoid tumors.
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