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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)’s share price traded down 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 mid-day trading, a decline of 84% from the average session volume of 1,917,930 shares. The stock had previously closed at $36.35.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SWTX shares. Wedbush reiterated an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a report on Monday, January 13th. HC Wainwright cut their price target on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Evercore ISI started coverage on SpringWorks Therapeutics in a report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 target price for the company. Finally, Guggenheim dropped their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $70.00.

SpringWorks Therapeutics Stock Performance

The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of -9.16 and a beta of 0.82. The business’s 50 day moving average is $38.13 and its 200-day moving average is $36.31.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.03. The business had revenue of $49.10 million during 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% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.27) earnings per share. Equities research analysts forecast that SpringWorks Therapeutics, Inc. will post -3.11 EPS for the current fiscal year.

Insider Buying and Selling

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total transaction of $839,400.00. Following the completion of the sale, the chief operating officer now owns 209,600 shares of the company’s stock, valued at approximately $8,796,912. This represents a 8.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of SWTX. Envestnet Asset Management Inc. grew its position in SpringWorks Therapeutics by 56.9% in the second quarter. Envestnet Asset Management Inc. now owns 112,426 shares of the company’s stock worth $4,235,000 after acquiring an additional 40,781 shares in the last quarter. XTX Topco Ltd purchased a new stake in SpringWorks Therapeutics in the second quarter worth $621,000. Ensign Peak Advisors Inc raised its stake in SpringWorks Therapeutics by 61.8% during the second quarter. Ensign Peak Advisors Inc now owns 164,744 shares of the company’s stock valued at $6,206,000 after buying an additional 62,953 shares during the last quarter. Profund Advisors LLC lifted its position in SpringWorks Therapeutics by 1.3% in the 2nd quarter. Profund Advisors LLC now owns 29,048 shares of the company’s stock valued at $1,094,000 after acquiring an additional 362 shares in the last quarter. Finally, Magnetar Financial LLC bought a new stake in shares of SpringWorks Therapeutics in the 2nd quarter worth $502,000.

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.