SpringWorks Therapeutics (NASDAQ:SWTX) Shares Gap Down – Here’s Why

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) gapped down before the market opened on Tuesday . The stock had previously closed at $57.43, but opened at $55.80. SpringWorks Therapeutics shares last traded at $55.76, with a volume of 1,374,794 shares.

Analyst Ratings Changes

A number of equities analysts recently commented on SWTX shares. HC Wainwright reiterated a “buy” rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a research report on Wednesday, February 12th. Wedbush reissued an “outperform” rating and set a $81.00 price objective on shares of SpringWorks Therapeutics in a research note on Thursday. Evercore ISI raised their price target on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Guggenheim dropped their target price 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. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $71.50.

SpringWorks Therapeutics Trading Up 7.5 %

The company’s fifty day simple moving average is $40.70 and its 200 day simple moving average is $37.47. The firm has a market capitalization of $4.46 billion, a P/E ratio of -15.45 and a beta of 0.81.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced 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 203.09% and a negative return on equity of 48.21%. On average, analysts predict that SpringWorks Therapeutics, Inc. will post -3.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Badreddin Edris sold 20,000 shares of the firm’s stock in a transaction 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 directly owns 209,600 shares in the company, valued at $8,796,912. This trade represents a 8.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Lynch sold 175,000 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.46, for a total transaction of $9,530,500.00. Following the completion of the transaction, the director now owns 130,944 shares in the company, valued at approximately $7,131,210.24. The trade was a 57.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 313,822 shares of company stock valued at $16,802,876 over the last quarter. Corporate insiders own 7.61% of the company’s stock.

Institutional Trading of SpringWorks Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of SWTX. Huntington National Bank boosted its holdings in shares of SpringWorks Therapeutics by 38.2% during the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $25,000 after acquiring an additional 192 shares during the last quarter. AlphaQuest LLC grew its position in SpringWorks Therapeutics by 70.2% in the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after purchasing an additional 414 shares during the period. State of Wyoming raised its stake in SpringWorks Therapeutics by 39.5% during the 4th quarter. State of Wyoming now owns 1,530 shares of the company’s stock valued at $55,000 after buying an additional 433 shares during the last quarter. Barclays PLC lifted its holdings in shares of SpringWorks Therapeutics by 0.3% during the 4th quarter. Barclays PLC now owns 156,123 shares of the company’s stock valued at $5,641,000 after buying an additional 447 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in SpringWorks Therapeutics by 21.4% in the third 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.

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.