SpringWorks Therapeutics (NASDAQ:SWTX) Sees Unusually-High Trading Volume - Still a Buy?

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 4,666,264 shares changed hands during 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 Analyst Weigh In

A number of research firms recently weighed in on SWTX. 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. HC Wainwright reissued a "neutral" rating and issued a $47.00 price objective (down from $74.00) on shares of SpringWorks Therapeutics in a research note on Wednesday, April 30th. 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 previously from $63.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. Finally, Wedbush restated a "neutral" rating and set a $47.00 price objective (down from $81.00) on shares of SpringWorks Therapeutics in a research note on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $52.57.

SpringWorks Therapeutics Stock Down 0.2%

The firm has a fifty day moving average price of $44.67 and a 200-day moving average price of $43.91.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.81) by ($0.30). SpringWorks Therapeutics had a negative net margin of 115.60% and a negative return on equity of 51.10%. The business had revenue of $49.09 million during the quarter, compared to the consensus estimate of $64.19 million. On average, analysts anticipate that SpringWorks Therapeutics will post -2.05 EPS for the current year.

Institutional Trading of SpringWorks Therapeutics

A number of large investors have recently added to or reduced their stakes in SWTX. Los Angeles Capital Management LLC boosted its stake 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 during the last quarter. Schroder Investment Management Group raised its holdings 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. lifted its stake in SpringWorks Therapeutics by 6.6% in the fourth 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 during the last quarter. BIT Capital GmbH grew its holdings in 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 purchasing an additional 8,429 shares during the period. Finally, Platinum Investment Management Ltd. purchased a new stake in SpringWorks Therapeutics in the fourth quarter worth $1,694,000.

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.