SpringWorks Therapeutics (NASDAQ:SWTX) Stock Price Down 2.5% – Here’s What Happened

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) dropped 2.5% during trading on Monday . The company traded as low as $48.57 and last traded at $48.64. Approximately 330,646 shares traded hands during trading, a decline of 74% from the average daily volume of 1,265,283 shares. The stock had previously closed at $49.89.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wedbush reaffirmed an “outperform” rating and set a $81.00 target price on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. HC Wainwright reiterated a “buy” rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Guggenheim dropped their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, Evercore ISI lifted their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, SpringWorks Therapeutics has a consensus rating of “Buy” and an average price target of $73.20.

SpringWorks Therapeutics Stock Performance

The stock has a market capitalization of $3.65 billion, a P/E ratio of -14.01 and a beta of 0.76. The stock has a 50-day moving average price of $46.70 and a two-hundred day moving average price of $39.46.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The company had revenue of $61.55 million for the quarter, compared to analysts’ expectations of $60.53 million. Equities analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Badreddin Edris sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $53.13, for a total value of $1,593,900.00. Following the sale, the chief operating officer now owns 189,712 shares in the company, valued at $10,079,398.56. This represents a 13.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Saqib Islam sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $53.30, for a total transaction of $2,558,400.00. Following the completion of the transaction, the chief executive officer now owns 1,002,502 shares of the company’s stock, valued at approximately $53,433,356.60. The trade was a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 440,766 shares of company stock valued at $24,402,956 over the last ninety days. Company insiders own 7.61% of the company’s stock.

Institutional Trading of SpringWorks Therapeutics

Hedge funds have recently bought and sold shares of the company. Huntington National Bank increased its position in shares of SpringWorks Therapeutics by 38.2% during the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $25,000 after purchasing an additional 192 shares during the last quarter. AlphaQuest LLC raised its position in SpringWorks Therapeutics by 70.2% in the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after acquiring an additional 414 shares during the period. State of Wyoming raised its position in SpringWorks Therapeutics by 39.5% in the fourth quarter. State of Wyoming now owns 1,530 shares of the company’s stock worth $55,000 after acquiring an additional 433 shares during the period. Barclays PLC grew its position in shares of SpringWorks Therapeutics by 0.3% during the 4th quarter. Barclays PLC now owns 156,123 shares of the company’s stock valued at $5,641,000 after acquiring an additional 447 shares during the period. Finally, Virtus ETF Advisers LLC grew its position in shares of SpringWorks Therapeutics by 7.4% during the 4th quarter. Virtus ETF Advisers LLC now owns 9,037 shares of the company’s stock valued at $327,000 after acquiring an additional 622 shares during the period.

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.