SpringWorks Therapeutics (NASDAQ:SWTX) Shares Down 2.5% – Here’s Why

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) was down 2.5% on Monday . The stock traded as low as $48.57 and last traded at $48.64. Approximately 330,646 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 1,265,283 shares. The stock had previously closed at $49.89.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SWTX. Wedbush reiterated an “outperform” rating and set a $81.00 target price on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. HC Wainwright reaffirmed a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a research report on Friday, February 21st. Evercore ISI raised their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Guggenheim cut their price target on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, SpringWorks Therapeutics has an average rating of “Buy” and a consensus target price of $73.20.

SpringWorks Therapeutics Stock Down 2.7 %

The firm has a 50 day moving average of $47.22 and a two-hundred day moving average of $39.58. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of -13.57 and a beta of 0.76.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). The company had revenue of $61.55 million during the quarter, compared to analyst estimates of $60.53 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. Sell-side analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current fiscal year.

Insider Activity

In related news, CEO Saqib Islam sold 49,000 shares of SpringWorks Therapeutics stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 954,869 shares of the company’s stock, valued at $51,792,094.56. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Lynch sold 175,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $54.46, for a total value of $9,530,500.00. Following the completion of the sale, the director now owns 130,944 shares in the company, valued at $7,131,210.24. The trade was a 57.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 440,766 shares of company stock worth $24,402,956. Insiders own 7.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Boxer Capital Management LLC bought a new stake in SpringWorks Therapeutics during the fourth quarter valued at $123,620,000. Capital International Investors boosted its holdings in shares of SpringWorks Therapeutics by 92.7% during the 4th quarter. Capital International Investors now owns 2,361,746 shares of the company’s stock worth $85,330,000 after buying an additional 1,136,079 shares in the last quarter. Pictet Asset Management Holding SA grew its position in shares of SpringWorks Therapeutics by 24.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock worth $86,402,000 after buying an additional 465,494 shares during the period. Principal Financial Group Inc. increased its stake in shares of SpringWorks Therapeutics by 102.5% in the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after acquiring an additional 464,903 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in SpringWorks Therapeutics by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock worth $258,650,000 after acquiring an additional 445,593 shares in the last quarter.

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.