Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX – Get Rating) rose 3.7% during trading on Friday . The stock traded as high as $28.16 and last traded at $28.16. Approximately 1,048 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 1,027,558 shares. The stock had previously closed at $27.15.

Analyst Ratings Changes

SWTX has been the subject of several recent research reports. HC Wainwright raised their price target on shares of SpringWorks Therapeutics from $94.00 to $103.00 and gave the company a "buy" rating in a research report on Monday, September 12th. Wedbush set a $53.00 price objective on shares of SpringWorks Therapeutics in a report on Monday, June 20th.

SpringWorks Therapeutics Trading Up 5.1 %

The stock's fifty day moving average price is $28.60 and its two-hundred day moving average price is $34.90. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -6.12 and a beta of 0.85.

Insider Buying and Selling

In related news, major shareholder Orbimed Advisors Llc sold 153,897 shares of SpringWorks Therapeutics stock in a transaction on Monday, September 12th. The shares were sold at an average price of $31.96, for a total transaction of $4,918,548.12. Following the sale, the insider now directly owns 5,599,842 shares in the company, valued at approximately $178,970,950.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 28.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On SpringWorks Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of SWTX. Nisa Investment Advisors LLC increased its stake in SpringWorks Therapeutics by 107.0% in the second quarter. Nisa Investment Advisors LLC now owns 1,780 shares of the company's stock valued at $44,000 after purchasing an additional 920 shares during the period. Assetmark Inc. raised its stake in SpringWorks Therapeutics by 319.7% during the 2nd quarter. Assetmark Inc. now owns 1,813 shares of the company's stock valued at $45,000 after acquiring an additional 1,381 shares during the last quarter. Parallel Advisors LLC lifted its position in SpringWorks Therapeutics by 34.7% during the 1st quarter. Parallel Advisors LLC now owns 1,028 shares of the company's stock worth $61,000 after acquiring an additional 265 shares during the period. Amundi acquired a new stake in SpringWorks Therapeutics during the 2nd quarter worth approximately $77,000. Finally, US Bancorp DE lifted its position in SpringWorks Therapeutics by 20.7% during the 2nd quarter. US Bancorp DE now owns 3,246 shares of the company's stock worth $80,000 after acquiring an additional 556 shares during the period.

About SpringWorks Therapeutics

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SpringWorks Therapeutics, Inc acquires, develops, and commercializes medicines for underserved patient populations suffering from rare diseases and cancer. Its lead product candidate is nirogacestat, an oral small molecule gamma secretase inhibitor that is in Phase III clinical trial for the treatment of desmoid tumors.

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