SpringWorks Therapeutics (NASDAQ:SWTX) Shares Down 2.5% – What’s Next?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) shares fell 2.5% during mid-day trading on Monday . The stock traded as low as $48.57 and last traded at $48.64. 330,646 shares were traded during mid-day trading, a decline of 74% from the average session volume of 1,265,283 shares. The stock had previously closed at $49.89.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Evercore ISI boosted their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Guggenheim reduced their price target on 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 issued a $81.00 price objective on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. Finally, HC Wainwright restated a “buy” rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $73.20.

SpringWorks Therapeutics Trading Down 2.7 %

The company has a market cap of $3.54 billion, a P/E ratio of -13.57 and a beta of 0.76. The business has a 50 day moving average price of $47.22 and a 200-day moving average price of $39.58.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. The firm had revenue of $61.55 million for the quarter, compared to the consensus estimate of $60.53 million. On average, sell-side analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Insider Activity at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, insider Daniel Pichl sold 29,750 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.36, for a total transaction of $1,617,210.00. Following the completion of the sale, the insider now owns 50,762 shares of the company’s stock, valued at $2,759,422.32. This trade represents a 36.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Saqib Islam sold 48,000 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $53.30, for a total transaction of $2,558,400.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 440,766 shares of company stock worth $24,402,956. Insiders own 7.61% of the company’s stock.

Institutional Investors Weigh In On SpringWorks Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC lifted its holdings in shares of SpringWorks Therapeutics by 30.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 61,760 shares of the company’s stock worth $2,231,000 after buying an additional 14,548 shares in the last quarter. Principal Financial Group Inc. increased its position in SpringWorks Therapeutics by 20.2% during the fourth quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company’s stock worth $39,882,000 after acquiring an additional 185,413 shares during the period. Platinum Investment Management Ltd. acquired a new stake in SpringWorks Therapeutics in the 4th quarter worth about $1,694,000. Ally Bridge Group NY LLC bought a new stake in SpringWorks Therapeutics in the 3rd quarter valued at about $7,296,000. Finally, AMI Asset Management Corp acquired a new position in shares of SpringWorks Therapeutics during the 4th quarter worth approximately $1,438,000.

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.