SpringWorks Therapeutics (NASDAQ:SWTX) Stock Price Up 31.5% – Time to Buy?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) shares rose 31.5% during trading on Monday . The stock traded as high as $45.50 and last traded at $52.96. Approximately 280,771 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 1,709,879 shares. The stock had previously closed at $40.28.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SWTX. HC Wainwright restated a “buy” rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a research report on Wednesday. Guggenheim lowered their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Evercore ISI assumed coverage on shares of SpringWorks Therapeutics in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price objective for the company. Finally, Wedbush restated an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a research report on Monday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, SpringWorks Therapeutics currently has an average rating of “Buy” and a consensus price target of $70.00.

SpringWorks Therapeutics Trading Up 2.1 %

The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of -14.21 and a beta of 0.81. The stock’s 50 day moving average is $38.35 and its two-hundred day moving average is $36.40.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.03. The firm had revenue of $49.10 million during the quarter, compared to analyst estimates of $53.28 million. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The company’s revenue for the quarter was up 4810.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.27) EPS. On average, research analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.03 earnings per share for the current year.

Insider Buying and Selling

In other 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 directly owns 209,600 shares in the company, valued at $8,796,912. This represents a 8.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 7.61% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. AlphaQuest LLC boosted its position in shares of SpringWorks Therapeutics by 70.2% during the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after acquiring an additional 414 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of SpringWorks Therapeutics during the fourth quarter worth $45,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of SpringWorks Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock worth $87,000 after purchasing an additional 474 shares during the period. KBC Group NV raised its stake in SpringWorks Therapeutics by 59.1% during the fourth quarter. KBC Group NV now owns 2,634 shares of the company’s stock worth $95,000 after buying an additional 978 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in SpringWorks Therapeutics during the third quarter worth $147,000.

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.