SpringWorks Therapeutics (NASDAQ:SWTX) Shares Down 4.8% – Should You Sell?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)’s stock price dropped 4.8% on Monday . The stock traded as low as $49.09 and last traded at $48.67. Approximately 127,388 shares traded hands during trading, a decline of 90% from the average daily volume of 1,252,577 shares. The stock had previously closed at $51.14.

Analyst Ratings Changes

SWTX has been the subject of several research reports. Guggenheim dropped their price target on 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 lifted their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Wedbush reissued an “outperform” rating and set a $81.00 price target on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. Finally, HC Wainwright reissued a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $73.20.

SpringWorks Therapeutics Stock Performance

The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of -14.09 and a beta of 0.76. The company has a fifty day simple moving average of $46.15 and a two-hundred day simple moving average of $39.26.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share (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 during the quarter, compared to the consensus estimate of $60.53 million. As a group, equities analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Bhavesh Ashar sold 1,016 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $61.19, for a total transaction of $62,169.04. Following the sale, the insider now owns 62,053 shares in the company, valued at $3,797,023.07. The trade was a 1.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Daniel Pichl sold 29,750 shares of the business’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 sale, the insider now owns 50,762 shares in the company, valued at $2,759,422.32. This represents a 36.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 440,766 shares of company stock worth $24,402,956 in the last 90 days. Insiders own 7.61% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SWTX. State of New Jersey Common Pension Fund D lifted its holdings in SpringWorks Therapeutics by 1.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 46,389 shares of the company’s stock worth $1,486,000 after buying an additional 871 shares during the period. GSA Capital Partners LLP acquired a new position in shares of SpringWorks Therapeutics in the 3rd quarter valued at about $209,000. Victory Capital Management Inc. lifted its stake in shares of SpringWorks Therapeutics by 19.7% in the 3rd quarter. Victory Capital Management Inc. now owns 629,387 shares of the company’s stock valued at $20,166,000 after purchasing an additional 103,404 shares during the period. Commerce Bank acquired a new position in shares of SpringWorks Therapeutics in the 3rd quarter valued at about $207,000. Finally, Intech Investment Management LLC acquired a new position in shares of SpringWorks Therapeutics in the 3rd quarter valued at about $676,000.

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.