SpringWorks Therapeutics (NASDAQ:SWTX) Stock Price Up 31.5% – Time to Buy?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) traded up 31.5% during mid-day trading on Monday . The company traded as high as $45.50 and last traded at $52.96. 280,771 shares changed hands during trading, a decline of 84% from the average session volume of 1,709,879 shares. The stock had previously closed at $40.28.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Guggenheim reduced their price objective 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. Evercore ISI started coverage on shares of SpringWorks Therapeutics in a research report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a research note on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a research note on Monday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SpringWorks Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $70.00.

SpringWorks Therapeutics Stock Performance

The stock has a 50-day moving average of $38.35 and a two-hundred day moving average of $36.40. The company has a market cap of $4.10 billion, a P/E ratio of -14.21 and a beta of 0.81.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.03. The business had revenue of $49.10 million during the quarter, compared to analyst estimates of $53.28 million. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The company’s quarterly revenue was up 4810.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.27) EPS. Research analysts predict that SpringWorks Therapeutics, Inc. will post -3.03 EPS for the current year.

Insider Buying and Selling

In other SpringWorks Therapeutics 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 completion of 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 this link. 7.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SWTX. Creative Planning purchased a new position in shares of SpringWorks Therapeutics during the third quarter valued at approximately $254,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in SpringWorks Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after acquiring an additional 474 shares during the period. China Universal Asset Management Co. Ltd. grew its position in SpringWorks Therapeutics by 64.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,285 shares of the company’s stock valued at $458,000 after acquiring an additional 5,582 shares during the last quarter. Principal Financial Group Inc. increased its stake in SpringWorks Therapeutics by 102.5% in the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock worth $29,427,000 after purchasing an additional 464,903 shares during the period. Finally, Assetmark Inc. increased its stake in SpringWorks Therapeutics by 13.7% in the third quarter. Assetmark Inc. now owns 46,020 shares of the company’s stock worth $1,474,000 after purchasing an additional 5,546 shares during the period.

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.