SpringWorks Therapeutics (NASDAQ:SWTX) Stock Price Up 6.8% – Still a Buy?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) shares were up 6.8% during trading on Tuesday . The company traded as high as $41.72 and last traded at $41.50. Approximately 1,097,974 shares traded hands during trading, an increase of 12% from the average daily volume of 982,610 shares. The stock had previously closed at $38.86.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SWTX shares. Evercore ISI began coverage on SpringWorks Therapeutics in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price objective on the stock. Guggenheim lowered 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. Wedbush reissued an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. Finally, HC Wainwright lowered their price objective on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $70.00.

SpringWorks Therapeutics Trading Down 1.7 %

The stock has a market cap of $3.01 billion, a P/E ratio of -10.44 and a beta of 0.82. The company’s 50 day moving average price is $37.38 and its two-hundred day moving average price is $36.36.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 203.09% and a negative return on equity of 48.21%. The firm’s revenue was up 4810.0% compared to the same quarter last year. During the same quarter last year, the business earned ($1.27) EPS. On average, sell-side analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current year.

Insider Transactions at SpringWorks Therapeutics

In other SpringWorks Therapeutics 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 transaction of $839,400.00. Following the completion of the transaction, the chief operating officer now 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 Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 7.61% of the company’s stock.

Institutional Trading of SpringWorks Therapeutics

Institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in SpringWorks Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after purchasing an additional 474 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of SpringWorks Therapeutics during the third quarter valued at approximately $147,000. Quarry LP raised its holdings in shares of SpringWorks Therapeutics by 56.3% in the second quarter. Quarry LP now owns 5,000 shares of the company’s stock worth $188,000 after buying an additional 1,800 shares during the period. Commerce Bank bought a new stake in shares of SpringWorks Therapeutics during the 3rd quarter worth approximately $207,000. Finally, GSA Capital Partners LLP purchased a new position in SpringWorks Therapeutics during the 3rd quarter valued at $209,000.

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.