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

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) saw strong trading volume on Friday . 3,188,735 shares traded hands 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.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Cowen downgraded shares of SpringWorks Therapeutics to a "hold" rating in a report on Tuesday, April 29th. Evercore ISI lowered SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Barclays reiterated an "equal weight" rating and set a $47.00 price target (down from $63.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Guggenheim restated a "neutral" rating and issued a $47.00 target price on shares of SpringWorks Therapeutics in a research note on Monday, May 12th. Finally, Wedbush restated a "neutral" rating and set a $47.00 price objective (down previously from $81.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $52.57.

SpringWorks Therapeutics Stock Performance

The firm has a 50-day moving average of $43.39 and a 200-day moving average of $42.94. The firm has a market capitalization of $3.52 billion, a P/E ratio of -13.41 and a beta of 0.77.

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

Insider Buying and Selling at SpringWorks Therapeutics

In related news, CEO Saqib Islam sold 49,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $54.24, for a total value of $2,657,760.00. Following the sale, the chief executive officer now directly owns 954,869 shares of the company's stock, valued at $51,792,094.56. This trade represents a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Badreddin Edris sold 20,000 shares of the business's stock in a transaction dated 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 approximately $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 currently owned by corporate insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

Several hedge funds have recently made changes to their positions in SWTX. Los Angeles Capital Management LLC boosted its holdings in SpringWorks Therapeutics by 30.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 61,760 shares of the company's stock valued at $2,231,000 after acquiring an additional 14,548 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of SpringWorks Therapeutics by 93.6% in the 4th quarter. Schroder Investment Management Group now owns 168,209 shares of the company's stock worth $6,113,000 after purchasing an additional 81,314 shares during the period. Vanguard Group Inc. boosted its stake in shares of SpringWorks Therapeutics by 6.6% during the 4th 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 in the last quarter. BIT Capital GmbH increased its position in shares of 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 buying an additional 8,429 shares during the period. Finally, Platinum Investment Management Ltd. purchased a new position in shares of SpringWorks Therapeutics during the fourth quarter valued at about $1,694,000.

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.