SpringWorks Therapeutics (NASDAQ:SWTX) Stock Price Down 4.8% – What’s Next?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) shares fell 4.8% during mid-day trading on Wednesday . The company traded as low as $34.98 and last traded at $34.61. 298,240 shares were traded during trading, a decline of 84% from the average session volume of 1,917,930 shares. The stock had previously closed at $36.35.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Evercore ISI began coverage on shares of SpringWorks Therapeutics in a research report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price objective on the stock. Guggenheim decreased their price target 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. HC Wainwright cut their price objective on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a report on Monday, January 13th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $70.00.

SpringWorks Therapeutics Trading Up 0.1 %

The firm’s 50-day moving average price is $38.13 and its 200-day moving average price is $36.30. The stock has a market capitalization of $2.69 billion, a PE ratio of -9.32 and a beta of 0.82.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.03. The company had revenue of $49.10 million for the quarter, compared to analysts’ expectations of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The firm’s revenue for the quarter was up 4810.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.27) earnings per share. On average, equities research analysts predict that SpringWorks Therapeutics, Inc. will post -3.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Badreddin Edris sold 20,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total value of $839,400.00. Following the sale, the chief operating officer now directly owns 209,600 shares of the company’s stock, valued at $8,796,912. This represents a 8.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.61% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Duquesne Family Office LLC bought a new position in SpringWorks Therapeutics in the 2nd quarter worth about $38,475,000. Maverick Capital Ltd. boosted its holdings in shares of SpringWorks Therapeutics by 36.3% in the second quarter. Maverick Capital Ltd. now owns 2,600,524 shares of the company’s stock valued at $97,962,000 after purchasing an additional 691,894 shares during the period. Principal Financial Group Inc. grew its stake in SpringWorks Therapeutics by 102.5% in the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock worth $29,427,000 after purchasing an additional 464,903 shares in the last quarter. Walleye Capital LLC increased its holdings in SpringWorks Therapeutics by 2,439.4% during the 3rd quarter. Walleye Capital LLC now owns 286,093 shares of the company’s stock worth $9,166,000 after purchasing an additional 274,827 shares during the period. Finally, Ally Bridge Group NY LLC bought a new stake in SpringWorks Therapeutics during the 3rd quarter valued at $7,296,000.

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.