SpringWorks Therapeutics (NASDAQ:SWTX) Stock Price Up 3%

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) rose 3% during mid-day trading on Friday . The stock traded as high as $43.80 and last traded at $43.74. Approximately 35,323 shares changed hands during trading, a decline of 97% from the average daily volume of 1,094,321 shares. The stock had previously closed at $42.47.

Analyst Upgrades and Downgrades

SWTX has been the subject of several recent analyst reports. Wedbush upped their price objective on shares of SpringWorks Therapeutics from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Monday, February 26th. JPMorgan Chase & Co. upped their target price on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the company an "overweight" rating in a research note on Wednesday, March 6th. HC Wainwright upped their target price on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the company a "buy" rating in a research note on Wednesday, March 6th. Guggenheim initiated coverage on shares of SpringWorks Therapeutics in a research note on Monday, February 5th. They set a "buy" rating and a $75.00 target price for the company. Finally, Barclays upped their target price on shares of SpringWorks Therapeutics from $47.00 to $63.00 and gave the company an "overweight" rating in a research note on Thursday, February 29th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $68.00.

SpringWorks Therapeutics Stock Performance

The company has a market cap of $2.96 billion, a price-to-earnings ratio of -7.80 and a beta of 0.83. The business's 50 day moving average price is $47.96 and its 200-day moving average price is $37.07.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($1.44) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.24) by ($0.20). The firm had revenue of $5.45 million for the quarter, compared to the consensus estimate of $1.26 million. During the same period last year, the company posted ($1.19) EPS. On average, equities research analysts expect that SpringWorks Therapeutics, Inc. will post -4.71 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Daniel Pichl sold 15,000 shares of the company's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $50.10, for a total value of $751,500.00. Following the sale, the insider now owns 45,212 shares of the company's stock, valued at approximately $2,265,121.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.61% of the company's stock.

Institutional Investors Weigh In On SpringWorks Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. boosted its stake in shares of SpringWorks Therapeutics by 96.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,612 shares of the company's stock valued at $37,000 after purchasing an additional 792 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of SpringWorks Therapeutics by 42.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,609 shares of the company's stock valued at $69,000 after acquiring an additional 782 shares during the period. IFP Advisors Inc raised its position in shares of SpringWorks Therapeutics by 31.2% in the 2nd quarter. IFP Advisors Inc now owns 2,794 shares of the company's stock valued at $73,000 after acquiring an additional 665 shares during the period. Headlands Technologies LLC acquired a new stake in shares of SpringWorks Therapeutics in the 4th quarter valued at approximately $74,000. Finally, Tower Research Capital LLC TRC raised its position in shares of SpringWorks Therapeutics by 64.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,122 shares of the company's stock valued at $82,000 after acquiring an additional 1,222 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.