SpringWorks Therapeutics (NASDAQ:SWTX) Sees Large Volume Increase - Should You Buy?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) saw an uptick in trading volume on Monday . 2,684,821 shares traded hands during trading, an increase of 17% from the previous session's volume of 2,301,335 shares.The stock last traded at $46.77 and had previously closed at $46.80.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. HC Wainwright reiterated a "neutral" rating and issued a $47.00 price target (down from $74.00) on shares of SpringWorks Therapeutics in a research note on Wednesday, April 30th. Barclays restated an "equal weight" rating and set a $47.00 target price (down from $63.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. TD Cowen reaffirmed a "hold" rating and set a $47.00 price target (down from $66.00) on shares of SpringWorks Therapeutics in a research note on Tuesday, April 29th. Guggenheim reaffirmed a "neutral" rating and set a $47.00 price target on shares of SpringWorks Therapeutics in a research report on Monday, May 12th. Finally, Cowen lowered shares of SpringWorks Therapeutics to a "hold" rating in a research note on Tuesday, April 29th. Seven 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 presently has an average rating of "Hold" and an average price target of $52.57.

SpringWorks Therapeutics Price Performance

The business has a 50 day moving average of $43.64 and a 200 day moving average of $43.71. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of -13.44 and a beta of 0.70.

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

Institutional Trading of SpringWorks Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in shares of SpringWorks Therapeutics by 2.3% during the 4th quarter. Rhumbline Advisers now owns 101,904 shares of the company's stock worth $3,682,000 after buying an additional 2,251 shares during the period. State of New Jersey Common Pension Fund D grew its position in shares of SpringWorks Therapeutics by 19.3% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 55,343 shares of the company's stock worth $2,000,000 after buying an additional 8,954 shares during the period. Principal Financial Group Inc. grew its position in shares of SpringWorks Therapeutics by 20.2% during the 4th quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company's stock worth $39,882,000 after buying an additional 185,413 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of SpringWorks Therapeutics during the 4th quarter worth about $45,000. Finally, Los Angeles Capital Management LLC grew its position in shares of SpringWorks Therapeutics by 30.8% during 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 during the period.

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.