SpringWorks Therapeutics (NASDAQ:SWTX) Trading Down 6.4% – What’s Next?

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

Wall Street Analyst Weigh In

SWTX has been the topic of a number of recent analyst reports. HC Wainwright dropped their price target 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. Guggenheim cut 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. Wedbush reiterated an “outperform” rating and set a $77.00 target price on shares of SpringWorks Therapeutics in a research note on Monday. Finally, Evercore ISI began coverage on SpringWorks Therapeutics in a report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $70.00.

SpringWorks Therapeutics Trading Down 7.7 %

The company’s 50 day moving average price is $37.95 and its two-hundred day moving average price is $36.44. The firm has a market cap of $2.54 billion, a PE ratio of -8.80 and a beta of 0.82.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $49.10 million during the quarter, compared to analysts’ expectations of $53.28 million. During the same period in the prior year, the company posted ($1.27) earnings per share. The company’s revenue for the quarter was up 4810.0% compared to the same quarter last year. Equities research analysts expect that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current fiscal year.

Insider Activity at SpringWorks Therapeutics

In related news, COO Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total value of $839,400.00. Following the completion of the transaction, the chief operating officer now owns 209,600 shares in the company, valued at approximately $8,796,912. This trade represents a 8.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 7.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Profund Advisors LLC lifted its position in SpringWorks Therapeutics by 1.3% in the second quarter. Profund Advisors LLC now owns 29,048 shares of the company’s stock worth $1,094,000 after buying an additional 362 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of SpringWorks Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after purchasing an additional 474 shares during the period. State of New Jersey Common Pension Fund D grew its holdings in shares of SpringWorks Therapeutics by 1.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 46,389 shares of the company’s stock worth $1,486,000 after purchasing an additional 871 shares during the last quarter. E Fund Management Co. Ltd. increased its stake in SpringWorks Therapeutics by 11.6% in the 2nd quarter. E Fund Management Co. Ltd. now owns 9,467 shares of the company’s stock worth $357,000 after buying an additional 981 shares during the period. Finally, Quarry LP lifted its holdings in SpringWorks Therapeutics by 20.0% during the 3rd quarter. Quarry LP now owns 6,000 shares of the company’s stock valued at $192,000 after buying an additional 1,000 shares in 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.