SpringWorks Therapeutics (NASDAQ:SWTX) Shares Down 4.8% – What’s Next?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)’s stock price was down 4.8% during mid-day trading on Monday . The company traded as low as $49.09 and last traded at $48.67. Approximately 127,388 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 1,252,577 shares. The stock had previously closed at $51.14.

Analyst Upgrades and Downgrades

SWTX has been the subject of several recent research reports. Evercore ISI lifted their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Wedbush reaffirmed an “outperform” rating and issued a $81.00 price target on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. HC Wainwright reissued a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Finally, Guggenheim dropped 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. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $73.20.

SpringWorks Therapeutics Trading Down 3.2 %

The business’s 50 day moving average price is $45.77 and its two-hundred day moving average price is $39.15. The stock has a market cap of $3.71 billion, a P/E ratio of -14.23 and a beta of 0.76.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $60.53 million. As a group, analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Daniel Lynch sold 175,000 shares of SpringWorks Therapeutics stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.46, for a total value of $9,530,500.00. Following the completion of the sale, the director now owns 130,944 shares of the company’s stock, valued at $7,131,210.24. The trade was a 57.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Badreddin Edris sold 30,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $53.13, for a total transaction of $1,593,900.00. Following the sale, the chief operating officer now directly owns 189,712 shares of the company’s stock, valued at $10,079,398.56. The trade was a 13.65 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 440,766 shares of company stock valued at $24,402,956. Insiders own 7.61% of the company’s stock.

Institutional Trading of SpringWorks Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of SWTX. Huntington National Bank raised its holdings in SpringWorks Therapeutics by 38.2% during the fourth quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $25,000 after acquiring an additional 192 shares during the period. AlphaQuest LLC raised its stake in SpringWorks Therapeutics by 70.2% during the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after purchasing an additional 414 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in SpringWorks Therapeutics during the fourth quarter valued at approximately $45,000. State of Wyoming increased its position in SpringWorks Therapeutics by 39.5% during the fourth quarter. State of Wyoming now owns 1,530 shares of the company’s stock valued at $55,000 after acquiring an additional 433 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in SpringWorks Therapeutics during the 4th quarter valued at about $56,000.

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.