SpringWorks Therapeutics (NASDAQ:SWTX) Shares Up 4.3% – Should You Buy?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) shares traded up 4.3% during mid-day trading on Thursday . The stock traded as high as $35.39 and last traded at $34.93. 79,383 shares changed hands during trading, a decline of 96% from the average session volume of 2,078,942 shares. The stock had previously closed at $33.48.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. HC Wainwright reduced their price target on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Wedbush reaffirmed an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a research report on Monday. Guggenheim reduced their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, Evercore ISI assumed coverage on SpringWorks Therapeutics in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $70.00.

SpringWorks Therapeutics Trading Up 4.9 %

The firm has a market cap of $2.61 billion, a PE ratio of -9.05 and a beta of 0.82. The business has a fifty day moving average price of $37.97 and a 200 day moving average price of $36.40.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.03. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The business had revenue of $49.10 million for the quarter, compared to the consensus estimate of $53.28 million. During the same quarter in the prior year, the business posted ($1.27) EPS. The business’s revenue for the quarter was up 4810.0% on a year-over-year basis. On average, research analysts expect that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Badreddin Edris sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total transaction of $839,400.00. Following the transaction, the chief operating officer now owns 209,600 shares in the company, valued at $8,796,912. This trade represents a 8.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 7.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SWTX. Park Avenue Securities LLC acquired a new stake in SpringWorks Therapeutics during the 4th quarter worth approximately $203,000. Principal Financial Group Inc. lifted its position in SpringWorks Therapeutics by 102.5% during the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock worth $29,427,000 after acquiring an additional 464,903 shares during the period. Exome Asset Management LLC acquired a new stake in SpringWorks Therapeutics during the 3rd quarter worth approximately $3,226,000. Geode Capital Management LLC lifted its position in SpringWorks Therapeutics by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company’s stock worth $53,526,000 after acquiring an additional 109,189 shares during the period. Finally, Barclays PLC lifted its position in SpringWorks Therapeutics by 60.4% during the 3rd quarter. Barclays PLC now owns 155,676 shares of the company’s stock worth $4,987,000 after acquiring an additional 58,645 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.