SpringWorks Therapeutics (NASDAQ:SWTX) Shares Gap Up – Should You Buy?

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) gapped up prior to trading on Friday . The stock had previously closed at $53.41, but opened at $55.20. SpringWorks Therapeutics shares last traded at $55.33, with a volume of 606,994 shares changing hands.

Analyst Ratings Changes

A number of research firms recently commented on SWTX. HC Wainwright reiterated a “buy” rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Wedbush reissued an “outperform” rating and set a $81.00 price objective on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. Evercore ISI upped their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Guggenheim decreased their price target on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, SpringWorks Therapeutics presently has an average rating of “Buy” and an average price target of $71.50.

SpringWorks Therapeutics Trading Up 8.1 %

The stock’s 50 day moving average is $42.53 and its two-hundred day moving average is $38.18. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of -16.60 and a beta of 0.81.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $61.55 million during the quarter, compared to analyst estimates of $60.53 million. On average, research analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Saqib Islam sold 48,000 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $53.30, for a total transaction of $2,558,400.00. Following the sale, the chief executive officer now owns 1,002,502 shares in the company, valued at approximately $53,433,356.60. This represents a 4.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Badreddin Edris sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 of the company’s stock, valued at approximately $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 391,766 shares of company stock worth $21,499,996. 7.61% of the stock is owned by insiders.

Institutional Investors Weigh In On SpringWorks Therapeutics

Large investors have recently made changes to their positions in the stock. Creative Planning bought a new stake in SpringWorks Therapeutics during the third quarter worth $254,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in 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 worth $87,000 after purchasing an additional 474 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in SpringWorks Therapeutics by 64.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 14,285 shares of the company’s stock valued at $458,000 after buying an additional 5,582 shares during the period. Principal Financial Group Inc. lifted its position in shares of SpringWorks Therapeutics by 102.5% in the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after buying an additional 464,903 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in shares of SpringWorks Therapeutics by 13.7% during the 3rd quarter. Assetmark Inc. now owns 46,020 shares of the company’s stock worth $1,474,000 after acquiring an additional 5,546 shares during the period.

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.