Wedbush Reiterates "Neutral" Rating for SpringWorks Therapeutics (NASDAQ:SWTX)

Wedbush reiterated their neutral rating on shares of SpringWorks Therapeutics (NASDAQ:SWTX - Free Report) in a research note published on Monday morning, MarketBeat reports. They currently have a $47.00 target price on the stock, down from their previous target price of $81.00.

Several other equities research analysts have also recently weighed in on SWTX. HC Wainwright reiterated a "buy" rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Guggenheim dropped their price objective on SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Finally, Evercore ISI increased their target price on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $52.57.

SpringWorks Therapeutics Trading Up 0.0 %

Shares of SpringWorks Therapeutics stock traded up $0.02 during trading hours on Monday, reaching $46.23. 5,241,136 shares of the company's stock were exchanged, compared to its average volume of 1,903,365. SpringWorks Therapeutics has a 52-week low of $28.21 and a 52-week high of $62.00. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of -13.28 and a beta of 0.79. The company has a fifty day moving average of $45.13 and a 200-day moving average of $41.04.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) earnings per share 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 firm had revenue of $61.55 million for the quarter, compared to analysts' expectations of $60.53 million. On average, equities research analysts anticipate that SpringWorks Therapeutics will post -2.05 earnings per share for the current fiscal year.

Insider Activity at SpringWorks Therapeutics

In related news, insider Daniel Pichl sold 29,750 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $54.36, for a total value of $1,617,210.00. Following the completion of the transaction, the insider now directly owns 50,762 shares of the company's stock, valued at $2,759,422.32. This represents a 36.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Saqib Islam sold 48,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $53.30, for a total value 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. This trade represents a 4.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 440,766 shares of company stock worth $24,402,956 in the last ninety days. 7.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

Several large investors have recently modified their holdings of SWTX. Los Angeles Capital Management LLC increased its holdings in SpringWorks Therapeutics by 30.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 61,760 shares of the company's stock worth $2,231,000 after buying an additional 14,548 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of SpringWorks Therapeutics by 93.6% during the fourth quarter. Schroder Investment Management Group now owns 168,209 shares of the company's stock valued at $6,113,000 after purchasing an additional 81,314 shares during the last quarter. Vanguard Group Inc. lifted its position in SpringWorks Therapeutics by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company's stock valued at $258,650,000 after purchasing an additional 445,593 shares during the period. BIT Capital GmbH lifted its position in SpringWorks Therapeutics by 18.7% during the fourth quarter. BIT Capital GmbH now owns 53,539 shares of the company's stock valued at $1,934,000 after purchasing an additional 8,429 shares during the period. Finally, Platinum Investment Management Ltd. purchased a new stake in SpringWorks Therapeutics in the fourth quarter worth approximately $1,694,000.

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.