SpringWorks Therapeutics, Inc. (NASDAQ:SWTX – Get Rating) traded down 4.7% on Tuesday . The stock traded as low as $26.14 and last traded at $26.24. 1,235 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 966,095 shares. The stock had previously closed at $27.52.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Wedbush set a $53.00 target price on SpringWorks Therapeutics in a research report on Monday, June 20th. HC Wainwright upped their price objective on SpringWorks Therapeutics from $94.00 to $103.00 and gave the company a "buy" rating in a research note on Monday, September 12th. Finally, The Goldman Sachs Group dropped their price target on SpringWorks Therapeutics from $92.00 to $76.00 and set a "buy" rating on the stock in a research report on Tuesday, May 24th.
Get SpringWorks Therapeutics alerts:SpringWorks Therapeutics Price Performance
The company has a 50-day moving average price of $29.17 and a 200-day moving average price of $36.72.
SpringWorks Therapeutics (NASDAQ:SWTX – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($1.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.26) by ($0.15). During the same quarter in the prior year, the business earned ($0.97) earnings per share. The firm's quarterly revenue was up .0% on a year-over-year basis. Sell-side analysts predict that SpringWorks Therapeutics, Inc. will post -5.36 EPS for the current year.Insider Buying and Selling
In related news, major shareholder Orbimed Advisors Llc sold 153,897 shares of SpringWorks Therapeutics stock in a transaction dated Monday, September 12th. The stock was 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 of the company's stock, valued at $178,970,950.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 28.95% of the stock is owned by company insiders.
Hedge Funds Weigh In On SpringWorks Therapeutics
Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp raised its holdings in SpringWorks Therapeutics by 143.7% in the 2nd quarter. State Street Corp now owns 3,889,249 shares of the company's stock valued at $95,753,000 after acquiring an additional 2,293,359 shares during the period. FMR LLC grew its holdings in shares of SpringWorks Therapeutics by 22.6% during the second quarter. FMR LLC now owns 7,412,040 shares of the company's stock valued at $182,484,000 after buying an additional 1,365,831 shares during the last quarter. Nomura Holdings Inc. purchased a new position in SpringWorks Therapeutics during the second quarter worth about $13,432,000. Pictet Asset Management SA raised its position in shares of SpringWorks Therapeutics by 74.2% in the second quarter. Pictet Asset Management SA now owns 1,103,577 shares of the company's stock valued at $27,170,000 after purchasing an additional 470,129 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in SpringWorks Therapeutics by 522.3% during the second quarter. JPMorgan Chase & Co. now owns 526,829 shares of the company's stock valued at $12,971,000 after acquiring an additional 442,164 shares in the last quarter.
SpringWorks Therapeutics Company Profile
(Get Rating)
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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