SpringWorks Therapeutics (NASDAQ:SWTX) Hits New 52-Week High – What’s Next?

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $61.11 and last traded at $60.16, with a volume of 538568 shares traded. The stock had previously closed at $55.73.

Wall Street Analyst Weigh In

Several research firms have issued reports on SWTX. Evercore ISI raised their target price on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. HC Wainwright restated a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a research report on Friday. Wedbush restated an “outperform” rating and set a $81.00 price target on shares of SpringWorks Therapeutics in a research report on Thursday. Finally, Guggenheim lowered their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $71.50.

SpringWorks Therapeutics Price Performance

The stock has a fifty day simple moving average of $41.10 and a two-hundred day simple moving average of $37.64.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings results 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 return on equity of 46.74% and a negative net margin of 134.73%. The firm had revenue of $61.55 million for the quarter, compared to analysts’ expectations of $60.53 million. As a group, equities research analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Insider Activity at SpringWorks Therapeutics

In related news, insider Daniel Pichl sold 29,750 shares of the 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Saqib Islam sold 10,672 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $59.92, for a total value of $639,466.24. Following the completion of the sale, the chief executive officer now owns 1,063,953 shares of the company’s stock, valued at approximately $63,752,063.76. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 313,822 shares of company stock valued at $16,802,876. 7.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank boosted its position in SpringWorks Therapeutics by 38.2% in the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $25,000 after buying an additional 192 shares during the last quarter. AlphaQuest LLC raised its stake in SpringWorks Therapeutics by 70.2% during the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after acquiring an additional 414 shares during the period. Venturi Wealth Management LLC acquired a new stake in SpringWorks Therapeutics during the fourth quarter worth about $45,000. State of Wyoming raised its stake in SpringWorks Therapeutics by 39.5% during the fourth quarter. State of Wyoming now owns 1,530 shares of the company’s stock worth $55,000 after acquiring an additional 433 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new stake in SpringWorks Therapeutics during the fourth quarter worth about $56,000.

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.