SpringWorks Therapeutics (NASDAQ:SWTX) Trading Up 3.3%

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) were up 3.3% during mid-day trading on Thursday . The company traded as high as $40.97 and last traded at $40.83. Approximately 562,182 shares were traded during trading, a decline of 42% from the average daily volume of 970,794 shares. The stock had previously closed at $39.52.

Analyst Ratings Changes

Several equities research analysts have issued reports on SWTX shares. HC Wainwright restated a “buy” rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a research report on Friday, May 31st. Wedbush reissued an “outperform” rating and set a $75.00 price objective on shares of SpringWorks Therapeutics in a report on Wednesday, August 7th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SpringWorks Therapeutics presently has an average rating of “Buy” and a consensus price target of $68.83.

SpringWorks Therapeutics Price Performance

The company has a 50 day moving average of $37.22 and a 200-day moving average of $42.81. The company has a market cap of $3.01 billion, a P/E ratio of -7.69 and a beta of 0.78.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($1.12) by $0.58. The company had revenue of $59.73 million during the quarter, compared to the consensus estimate of $34.42 million. The firm’s revenue for the quarter was up 59732900.0% on a year-over-year basis. During the same quarter last year, the company posted ($1.25) earnings per share. Research analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.34 EPS for the current year.

Institutional Trading of SpringWorks Therapeutics

A number of hedge funds have recently made changes to their positions in SWTX. First Horizon Advisors Inc. raised its holdings in shares of SpringWorks Therapeutics by 47.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock valued at $45,000 after buying an additional 383 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of SpringWorks Therapeutics in the 4th quarter worth approximately $74,000. Strs Ohio purchased a new stake in shares of SpringWorks Therapeutics in the 4th quarter valued at $102,000. Allspring Global Investments Holdings LLC bought a new position in shares of SpringWorks Therapeutics during the 2nd quarter valued at $123,000. Finally, CANADA LIFE ASSURANCE Co raised its position in SpringWorks Therapeutics by 20.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock worth $220,000 after purchasing an additional 754 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.