SpringWorks Therapeutics (NASDAQ:SWTX) Given "Neutral" Rating at Guggenheim

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report)'s stock had its "neutral" rating reaffirmed by Guggenheim in a research note issued to investors on Monday,Benzinga reports. They currently have a $47.00 target price on the stock. Guggenheim's target price points to a potential upside of 1.74% from the stock's current price.

SWTX has been the topic of several other reports. Evercore ISI cut SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Barclays reiterated an "equal weight" rating and set a $47.00 target price (down previously from $63.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. TD Cowen reiterated a "hold" rating and set a $47.00 target price (down previously from $66.00) on shares of SpringWorks Therapeutics in a research report on Tuesday, April 29th. HC Wainwright reissued a "neutral" rating and set a $47.00 price target (down previously from $74.00) on shares of SpringWorks Therapeutics in a report on Wednesday, April 30th. Finally, Cowen lowered SpringWorks Therapeutics to a "hold" rating in a report on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $52.57.

SpringWorks Therapeutics Price Performance

Shares of NASDAQ:SWTX traded down $0.07 during midday trading on Monday, hitting $46.20. The company had a trading volume of 2,948,783 shares, compared to its average volume of 2,002,316. SpringWorks Therapeutics has a twelve month low of $28.21 and a twelve month high of $62.00. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of -13.27 and a beta of 0.77. The business's 50-day simple moving average is $44.35 and its 200-day simple moving average is $41.76.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last issued its quarterly earnings data 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). SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. The business had revenue of $49.09 million during the quarter, compared to analysts' expectations of $64.19 million. As a group, sell-side analysts forecast that SpringWorks Therapeutics will post -2.05 EPS for the current year.

Insider Activity at SpringWorks Therapeutics

In other news, CEO Saqib Islam sold 49,000 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $54.24, for a total transaction of $2,657,760.00. Following the completion of the sale, the chief executive officer now directly owns 954,869 shares in the company, valued at $51,792,094.56. This represents a 4.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Badreddin Edris sold 20,000 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $54.23, for a total value of $1,084,600.00. Following the sale, the chief operating officer now owns 169,712 shares of the company's stock, valued at approximately $9,203,481.76. The trade was a 10.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,016 shares of company stock valued at $9,102,946. 7.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank lifted its position in shares of SpringWorks Therapeutics by 38.2% during the fourth quarter. Huntington National Bank now owns 694 shares of the company's stock worth $25,000 after purchasing an additional 192 shares during the last quarter. AlphaQuest LLC lifted its position in shares of SpringWorks Therapeutics by 70.2% during the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company's stock worth $36,000 after purchasing an additional 414 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of SpringWorks Therapeutics during the fourth quarter worth about $45,000. State of Wyoming lifted its position in shares of SpringWorks Therapeutics by 39.5% during the fourth quarter. State of Wyoming now owns 1,530 shares of the company's stock worth $55,000 after purchasing an additional 433 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in shares of SpringWorks Therapeutics during the fourth quarter worth about $56,000.

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.

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