SpringWorks Therapeutics (NASDAQ:SWTX) Sees Unusually-High Trading Volume - Here's What Happened

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) shares saw an uptick in trading volume on Friday . 3,188,735 shares were traded during trading, an increase of 48% from the previous session's volume of 2,152,273 shares.The stock last traded at $46.38 and had previously closed at $46.27.

Analyst Ratings Changes

Several brokerages have recently weighed in on SWTX. HC Wainwright reiterated a "neutral" rating and set a $47.00 price objective (down previously from $74.00) on shares of SpringWorks Therapeutics in a report on Wednesday, April 30th. Evercore ISI lowered shares of SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Barclays restated an "equal weight" rating and issued a $47.00 target price (down previously from $63.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. Wedbush restated a "neutral" rating and issued a $47.00 target price (down previously from $81.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. Finally, TD Cowen restated a "hold" rating and issued a $47.00 target price (down previously from $66.00) on shares of SpringWorks Therapeutics in a report on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, SpringWorks Therapeutics currently has a consensus rating of "Hold" and an average target price of $52.57.

SpringWorks Therapeutics Trading Down 0.0%

The company has a market capitalization of $3.50 billion, a P/E ratio of -13.35 and a beta of 0.77. The company's fifty day moving average is $43.49 and its 200 day moving average is $42.92.

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

Insider Activity

In related news, COO Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock in a transaction 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 in the company, valued at $9,203,481.76. This trade represents a 10.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Saqib Islam sold 49,000 shares of the firm'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 approximately $51,792,094.56. This trade represents a 4.88% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.83% of the company's stock.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Huntington National Bank grew its holdings in SpringWorks Therapeutics by 38.2% in the 4th quarter. Huntington National Bank now owns 694 shares of the company's stock worth $25,000 after acquiring an additional 192 shares during the last quarter. GF Fund Management CO. LTD. grew its holdings in SpringWorks Therapeutics by 22.0% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,905 shares of the company's stock worth $84,000 after acquiring an additional 343 shares during the last quarter. AlphaQuest LLC grew its holdings in SpringWorks Therapeutics by 70.2% in the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company's stock worth $36,000 after acquiring an additional 414 shares during the last quarter. State of Wyoming grew its holdings in SpringWorks Therapeutics by 39.5% in the 4th quarter. State of Wyoming now owns 1,530 shares of the company's stock worth $55,000 after acquiring an additional 433 shares during the last quarter. Finally, Barclays PLC grew its holdings in SpringWorks Therapeutics by 0.3% in the 4th quarter. Barclays PLC now owns 156,123 shares of the company's stock worth $5,641,000 after acquiring an additional 447 shares during the last quarter.

SpringWorks Therapeutics Company Profile

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.