SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Get Free Report) saw an uptick in trading volume on Monday . 4,666,264 shares changed hands during mid-day trading, an increase of 96% from the previous session's volume of 2,384,727 shares.The stock last traded at $46.91 and had previously closed at $46.78.
Wall Street Analysts Forecast Growth
A number of research firms have commented on SWTX. Guggenheim reiterated a "neutral" rating and issued a $47.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, May 12th. Wedbush restated a "neutral" rating and set a $47.00 price target (down previously from $81.00) on shares of SpringWorks Therapeutics in a research note on Monday, April 28th. Cowen lowered shares of SpringWorks Therapeutics to a "hold" rating in a report on Tuesday, April 29th. Evercore ISI cut SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Finally, TD Cowen reiterated a "hold" rating and set a $47.00 price objective (down previously from $66.00) on shares of SpringWorks Therapeutics in a research note on Tuesday, April 29th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $52.57.
View Our Latest Report on SpringWorks Therapeutics
SpringWorks Therapeutics Trading Up 0.2%
The firm's fifty day moving average is $44.06 and its 200 day moving average is $43.83. The company has a market cap of $3.53 billion, a PE ratio of -13.47 and a beta of 0.70.
SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its earnings results on Friday, May 9th. The company reported ($1.11) EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $49.09 million for the quarter, compared to analysts' expectations of $64.19 million. As a group, sell-side analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position in shares of SpringWorks Therapeutics by 2.3% in the fourth quarter. Rhumbline Advisers now owns 101,904 shares of the company's stock valued at $3,682,000 after buying an additional 2,251 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in 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 valued at $2,000,000 after acquiring an additional 8,954 shares in the last quarter. Principal Financial Group Inc. raised its holdings in SpringWorks Therapeutics by 20.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company's stock valued at $39,882,000 after acquiring an additional 185,413 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in SpringWorks Therapeutics in the 4th quarter worth approximately $45,000. Finally, Los Angeles Capital Management LLC boosted its holdings 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 purchasing an additional 14,548 shares during the last quarter.
SpringWorks Therapeutics Company Profile
(
Get Free Report)
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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