SpringWorks Therapeutics (NASDAQ:SWTX) Shares Up 5.5% – Time to Buy?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) shares rose 5.5% during mid-day trading on Wednesday . The stock traded as high as $44.19 and last traded at $44.18. Approximately 330,620 shares were traded during trading, a decline of 75% from the average daily volume of 1,305,226 shares. The stock had previously closed at $41.88.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wedbush reaffirmed an “outperform” rating and issued a $81.00 price target on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. Evercore ISI upped their price objective 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. Guggenheim cut their target price on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, SpringWorks Therapeutics currently has an average rating of “Buy” and a consensus price target of $73.20.

SpringWorks Therapeutics Trading Up 11.0 %

The stock’s fifty day moving average price is $48.28 and its 200 day moving average price is $39.84. The stock has a market cap of $3.48 billion, a P/E ratio of -13.36 and a beta of 0.76.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted 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 return on equity of 46.74% and a negative net margin of 134.73%. The business had revenue of $61.55 million for the quarter, compared to the consensus estimate of $60.53 million. As a group, sell-side analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Insider Transactions at SpringWorks Therapeutics

In other news, CEO Saqib Islam sold 49,000 shares of SpringWorks Therapeutics stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $54.24, for a total value of $2,657,760.00. Following the completion of the transaction, the chief executive officer now owns 954,869 shares of the company’s stock, valued at $51,792,094.56. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Badreddin Edris sold 30,000 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $53.13, for a total transaction of $1,593,900.00. Following the completion of the transaction, the chief operating officer now owns 189,712 shares in the company, valued at approximately $10,079,398.56. The trade was a 13.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 440,766 shares of company stock valued at $24,402,956 in the last ninety days. 7.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Huntington National Bank grew its holdings in shares of SpringWorks Therapeutics by 38.2% during the fourth 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 boosted its stake in SpringWorks Therapeutics by 70.2% during the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after purchasing an additional 414 shares during the last quarter. State of Wyoming increased its holdings in shares of SpringWorks Therapeutics by 39.5% in the 4th quarter. State of Wyoming now owns 1,530 shares of the company’s stock worth $55,000 after purchasing an additional 433 shares in the last quarter. Barclays PLC raised its stake in shares of SpringWorks Therapeutics by 0.3% in the fourth quarter. Barclays PLC now owns 156,123 shares of the company’s stock worth $5,641,000 after purchasing an additional 447 shares during the last quarter. Finally, Virtus ETF Advisers LLC lifted its holdings in shares of SpringWorks Therapeutics by 7.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 9,037 shares of the company’s stock valued at $327,000 after purchasing an additional 622 shares in the last quarter.

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.