SpringWorks Therapeutics (NASDAQ:SWTX) Trading 3% Higher

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) traded up 3% on Friday . The company traded as high as $43.80 and last traded at $43.74. 35,323 shares were traded during trading, a decline of 97% from the average session volume of 1,094,321 shares. The stock had previously closed at $42.47.

Analysts Set New Price Targets

A number of brokerages have recently commented on SWTX. HC Wainwright lifted their price target on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Wedbush boosted their target price on shares of SpringWorks Therapeutics from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, February 26th. JPMorgan Chase & Co. lifted their price target on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Barclays lifted their price target on shares of SpringWorks Therapeutics from $47.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, Guggenheim began coverage on shares of SpringWorks Therapeutics in a research note on Monday, February 5th. They issued a “buy” rating and a $75.00 price target for the company. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $68.00.

SpringWorks Therapeutics Stock Performance

The firm has a market capitalization of $2.96 billion, a PE ratio of -7.80 and a beta of 0.83. The company’s 50 day simple moving average is $47.96 and its 200-day simple moving average is $37.16.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($1.44) EPS for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.20). The firm had revenue of $5.45 million for the quarter, compared to analysts’ expectations of $1.26 million. During the same quarter last year, the firm earned ($1.19) earnings per share. On average, equities research analysts forecast that SpringWorks Therapeutics, Inc. will post -4.71 earnings per share for the current fiscal year.

Insider Buying and Selling at SpringWorks Therapeutics

In related news, insider Daniel Pichl sold 15,000 shares of SpringWorks Therapeutics stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $50.10, for a total transaction of $751,500.00. Following the completion of the transaction, the insider now directly owns 45,212 shares of the company’s stock, valued at approximately $2,265,121.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 7.61% of the stock is currently owned by corporate insiders.

Institutional Trading of SpringWorks Therapeutics

A number of large investors have recently made changes to their positions in the stock. Financial Security Advisor Inc. purchased a new position in SpringWorks Therapeutics during the first quarter valued at approximately $246,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of SpringWorks Therapeutics by 14.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 37,512 shares of the company’s stock worth $1,846,000 after buying an additional 4,711 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of SpringWorks Therapeutics in the first quarter worth $714,000. Nomura Holdings Inc. purchased a new position in shares of SpringWorks Therapeutics in the fourth quarter worth $463,000. Finally, Vanguard Group Inc. lifted its holdings in shares of SpringWorks Therapeutics by 22.6% in the fourth quarter. Vanguard Group Inc. now owns 6,036,542 shares of the company’s stock worth $220,334,000 after buying an additional 1,114,080 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.