SpringWorks Therapeutics (NASDAQ:SWTX) Sets New 12-Month High – What’s Next?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $60.00 and last traded at $54.00, with a volume of 15996095 shares. The stock had previously closed at $40.28.

Analyst Upgrades and Downgrades

SWTX has been the subject of several analyst reports. Guggenheim cut their price target 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. Wedbush reissued an “outperform” rating and set a $77.00 target price on shares of SpringWorks Therapeutics in a research note on Monday. HC Wainwright restated a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Wednesday. Finally, Evercore ISI upped their price objective on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, SpringWorks Therapeutics currently has a consensus rating of “Buy” and an average price target of $70.83.

SpringWorks Therapeutics Stock Up 7.5 %

The business has a fifty day moving average of $38.35 and a two-hundred day moving average of $36.40.

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

Insider Buying and Selling at SpringWorks Therapeutics

In related news, insider Daniel Pichl sold 29,750 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.36, for a total value of $1,617,210.00. Following the completion of the transaction, the insider now directly owns 50,762 shares in the company, valued at approximately $2,759,422.32. This represents a 36.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel Lynch sold 175,000 shares of the stock in a transaction dated 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 transaction, the director now owns 130,944 shares in the company, valued at $7,131,210.24. This trade represents a 57.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 302,750 shares of company stock worth $16,139,410. Corporate insiders own 7.61% of the company’s stock.

Institutional Investors Weigh In On SpringWorks Therapeutics

Large investors have recently made changes to their positions in the business. Pictet Asset Management Holding SA lifted its holdings in SpringWorks Therapeutics by 24.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock worth $86,402,000 after buying an additional 465,494 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of SpringWorks Therapeutics by 102.5% during the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock worth $29,427,000 after buying an additional 464,903 shares during the period. Vanguard Group Inc. grew its position in SpringWorks Therapeutics by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock valued at $258,650,000 after buying an additional 445,593 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of SpringWorks Therapeutics during the 4th quarter valued at $10,527,000. Finally, Walleye Capital LLC raised its holdings in shares of SpringWorks Therapeutics by 2,439.4% in the 3rd quarter. Walleye Capital LLC now owns 286,093 shares of the company’s stock worth $9,166,000 after purchasing an additional 274,827 shares in the last quarter.

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.