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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SWTX shares. Evercore ISI raised 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. HC Wainwright reissued a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Guggenheim reduced their price objective on shares of 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, Wedbush restated an “outperform” rating and set a $81.00 target price on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $73.20.

SpringWorks Therapeutics Stock Performance

The firm has a market capitalization of $3.65 billion, a PE ratio of -14.01 and a beta of 0.76. The company has a fifty day moving average price of $46.70 and a 200-day moving average price of $39.46.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) EPS 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 business had revenue of $61.55 million for the quarter, compared to the consensus estimate of $60.53 million. On average, equities analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Insiders Place Their Bets

In other SpringWorks Therapeutics news, CEO Saqib Islam sold 48,000 shares of the business’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 transaction, the chief executive officer now owns 1,002,502 shares in the company, valued at $53,433,356.60. The trade was a 4.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bhavesh Ashar sold 1,016 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $61.19, for a total transaction of $62,169.04. Following the completion of the sale, the insider now owns 62,053 shares of the company’s stock, valued at $3,797,023.07. This trade represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 440,766 shares of company stock valued at $24,402,956 over the last ninety days. 7.61% of the stock is owned by insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

Several hedge funds have recently bought and sold shares of SWTX. Los Angeles Capital Management LLC grew its holdings in shares of SpringWorks Therapeutics by 30.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 61,760 shares of the company’s stock worth $2,231,000 after purchasing an additional 14,548 shares during the last quarter. Alpha DNA Investment Management LLC purchased a new position in shares of SpringWorks Therapeutics during the third quarter worth approximately $411,000. Principal Financial Group Inc. raised its stake in shares of SpringWorks Therapeutics by 20.2% during the fourth quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company’s stock valued at $39,882,000 after acquiring an additional 185,413 shares in the last quarter. Ally Bridge Group NY LLC purchased a new stake in shares of SpringWorks Therapeutics in the third quarter valued at approximately $7,296,000. Finally, AMI Asset Management Corp purchased a new position in SpringWorks Therapeutics during the 4th quarter worth $1,438,000.

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.