HC Wainwright Reaffirms "Neutral" Rating for SpringWorks Therapeutics (NASDAQ:SWTX)

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report)'s stock had its "neutral" rating reiterated by research analysts at HC Wainwright in a note issued to investors on Wednesday, MarketBeat.com reports. They currently have a $47.00 price objective on the stock, down from their previous price objective of $74.00. HC Wainwright's price objective indicates a potential upside of 1.67% from the stock's current price.

A number of other analysts have also commented on the stock. Evercore ISI lowered shares of SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Cowen cut SpringWorks Therapeutics to a "hold" rating in a research note on Tuesday. TD Cowen restated a "hold" rating and set a $47.00 target price (down previously from $66.00) on shares of SpringWorks Therapeutics in a report on Tuesday. Barclays restated an "equal weight" rating and set a $47.00 price objective (down previously from $63.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. Finally, Guggenheim lowered SpringWorks Therapeutics from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $77.00 to $47.00 in a research report on Monday. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $52.57.

SpringWorks Therapeutics Trading Up 0.0 %

NASDAQ SWTX traded up $0.02 during trading hours on Wednesday, reaching $46.23. 5,241,136 shares of the company's stock were exchanged, compared to its average volume of 1,903,365. The firm has a fifty day moving average of $45.13 and a 200-day moving average of $41.04. The stock has a market cap of $3.47 billion, a PE ratio of -13.28 and a beta of 0.79. SpringWorks Therapeutics has a one year low of $28.21 and a one year high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The firm had revenue of $61.55 million during the quarter, compared to the consensus estimate of $60.53 million. As a group, research analysts forecast that SpringWorks Therapeutics will post -2.05 EPS for the current year.

Insider Buying and Selling

In other SpringWorks Therapeutics news, Director Daniel Lynch sold 175,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.46, for a total transaction of $9,530,500.00. Following the transaction, the director now owns 130,944 shares in the company, valued at $7,131,210.24. This trade represents a 57.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bhavesh Ashar sold 1,016 shares of SpringWorks Therapeutics stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.19, for a total transaction of $62,169.04. Following the completion of the sale, the insider now owns 62,053 shares of the company's stock, valued at approximately $3,797,023.07. The trade was a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 440,766 shares of company stock valued at $24,402,956. 7.83% of the stock is owned by insiders.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of large investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC lifted 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 acquiring an additional 14,548 shares during the period. Schroder Investment Management Group lifted its stake 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 valued at $6,113,000 after acquiring an additional 81,314 shares during the last quarter. Vanguard Group Inc. boosted its holdings 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 acquiring an additional 445,593 shares in the last quarter. BIT Capital GmbH grew its position in SpringWorks Therapeutics by 18.7% during the 4th quarter. BIT Capital GmbH now owns 53,539 shares of the company's stock worth $1,934,000 after acquiring an additional 8,429 shares during the last quarter. Finally, Platinum Investment Management Ltd. acquired a new position in SpringWorks Therapeutics in the 4th quarter worth about $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.