SpringWorks Therapeutics (NASDAQ:SWTX) Receives Neutral Rating from Guggenheim

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report)'s stock had its "neutral" rating restated by equities researchers at Guggenheim in a research note issued to investors on Monday,Benzinga reports. They currently have a $47.00 price target on the stock. Guggenheim's price objective would suggest a potential upside of 1.93% from the stock's previous close.

Other equities analysts have also issued reports about the stock. TD Cowen reissued a "hold" rating and issued a $47.00 target price (down from $66.00) on shares of SpringWorks Therapeutics in a report on Tuesday, April 29th. Barclays reissued an "equal weight" rating and issued a $47.00 target price (down from $63.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. Evercore ISI lowered shares of SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. HC Wainwright reaffirmed a "neutral" rating and set a $47.00 price target (down from $74.00) on shares of SpringWorks Therapeutics in a report on Wednesday, April 30th. Finally, Wedbush reaffirmed a "neutral" rating and set a $47.00 price target (down from $81.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $52.57.

SpringWorks Therapeutics Stock Up 0.1%

Shares of NASDAQ SWTX traded up $0.03 during mid-day trading on Monday, reaching $46.11. 7,025,072 shares of the company were exchanged, compared to its average volume of 2,099,792. The company's 50-day simple moving average is $43.95 and its 200-day simple moving average is $42.16. The stock has a market capitalization of $3.46 billion, a P/E ratio of -13.25 and a beta of 0.77. SpringWorks Therapeutics has a twelve month low of $28.21 and a twelve month high of $62.00.

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 analyst estimates of $64.19 million. As a group, equities research analysts expect that SpringWorks Therapeutics will post -2.05 EPS for the current year.

Insiders Place Their Bets

In related 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 transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bhavesh Ashar sold 1,016 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $61.19, for a total transaction of $62,169.04. Following the transaction, the insider now owns 62,053 shares in the company, valued at $3,797,023.07. The trade was a 1.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,944 shares of company stock valued at $8,439,479 in the last ninety days. 7.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. 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 valued at $25,000 after purchasing an additional 192 shares in the last quarter. Twin Tree Management LP purchased a new position in shares of SpringWorks Therapeutics in the first quarter worth about $37,000. AlphaQuest LLC boosted its position in shares of SpringWorks Therapeutics by 70.2% in the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company's stock valued at $36,000 after acquiring an additional 414 shares during the period. Venturi Wealth Management LLC bought a new position in shares of SpringWorks Therapeutics in the fourth quarter valued at approximately $45,000. Finally, State of Wyoming lifted its position in SpringWorks Therapeutics by 39.5% during the fourth quarter. State of Wyoming now owns 1,530 shares of the company's stock valued at $55,000 after purchasing an additional 433 shares during the last quarter.

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.