SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Given Average Recommendation of "Hold" by Analysts

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) have earned an average recommendation of "Hold" from the eight ratings firms that are covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $52.57.

SWTX has been the topic of several recent research reports. Cowen lowered SpringWorks Therapeutics to a "hold" rating in a report on Tuesday, April 29th. Guggenheim reiterated a "neutral" rating and issued a $47.00 target price on shares of SpringWorks Therapeutics in a research note on Monday, May 12th. Wedbush reiterated a "neutral" rating and issued a $47.00 target price (down previously from $81.00) on shares of SpringWorks Therapeutics in a research note on Monday, April 28th. Barclays reiterated an "equal weight" rating and issued a $47.00 target price (down previously from $63.00) on shares of SpringWorks Therapeutics in a research note on Monday, April 28th. Finally, Evercore ISI downgraded SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th.

SpringWorks Therapeutics Trading Up 0.4%

NASDAQ SWTX traded up $0.18 during mid-day trading on Friday, hitting $46.64. The company's stock had a trading volume of 2,484,438 shares, compared to its average volume of 2,182,603. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of -13.40 and a beta of 0.77. SpringWorks Therapeutics has a twelve month low of $28.21 and a twelve month high of $62.00. The company's 50 day simple moving average is $43.39 and its 200 day simple moving average is $42.94.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported ($1.11) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($0.30). The company had revenue of $49.09 million during the quarter, compared to the consensus estimate of $64.19 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. As a group, research analysts forecast that SpringWorks Therapeutics will post -2.05 EPS for the current year.

Insider Activity at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, CEO Saqib Islam sold 49,000 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $54.24, for a total value of $2,657,760.00. Following the transaction, the chief executive officer now owns 954,869 shares in the company, valued at $51,792,094.56. The trade was a 4.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Badreddin Edris sold 20,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $54.23, for a total value of $1,084,600.00. Following the transaction, the chief operating officer now owns 169,712 shares of the company's stock, valued at $9,203,481.76. This represents a 10.54% decrease in their position. The disclosure for this sale can be found here. 7.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC lifted its stake in SpringWorks Therapeutics by 75.7% in the 1st quarter. Intech Investment Management LLC now owns 42,511 shares of the company's stock worth $1,876,000 after acquiring an additional 18,318 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of SpringWorks Therapeutics by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,177 shares of the company's stock worth $5,348,000 after purchasing an additional 2,125 shares in the last quarter. Slotnik Capital LLC acquired a new stake in shares of SpringWorks Therapeutics during the 1st quarter worth approximately $1,545,000. Woodline Partners LP grew its position in SpringWorks Therapeutics by 43.9% in the first quarter. Woodline Partners LP now owns 2,144,814 shares of the company's stock valued at $94,651,000 after acquiring an additional 654,678 shares during the period. Finally, Zimmer Partners LP grew its position in SpringWorks Therapeutics by 42.3% in the first quarter. Zimmer Partners LP now owns 202,500 shares of the company's stock valued at $8,936,000 after acquiring an additional 60,200 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.