SpringWorks Therapeutics (NASDAQ:SWTX) Shares Gap Up – What’s Next?

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) gapped up prior to trading on Monday . The stock had previously closed at $44.72, but opened at $46.12. SpringWorks Therapeutics shares last traded at $46.11, with a volume of 44,191,823 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Evercore ISI lifted their price objective on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Guggenheim cut their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, Wedbush reiterated a “neutral” rating and set a $47.00 price target (down from $81.00) on shares of SpringWorks Therapeutics in a report on Monday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $66.40.

SpringWorks Therapeutics Price Performance

The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of -13.26 and a beta of 0.79. The business’s 50-day moving average price is $46.20 and its 200 day moving average price is $40.64.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings data 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). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The business had revenue of $61.55 million for the quarter, compared to the consensus estimate of $60.53 million. As a group, sell-side analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Insider Transactions at SpringWorks Therapeutics

In other news, insider Daniel Pichl sold 29,750 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.36, for a total transaction of $1,617,210.00. Following the completion of the sale, the insider now directly owns 50,762 shares of the company’s stock, valued at $2,759,422.32. This trade represents a 36.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Saqib Islam sold 48,000 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $53.30, for a total transaction of $2,558,400.00. Following the transaction, the chief executive officer now directly owns 1,002,502 shares of the company’s stock, valued at approximately $53,433,356.60. This represents a 4.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 440,766 shares of company stock valued at $24,402,956 over the last three months. Company insiders own 7.83% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SWTX. Huntington National Bank increased its position in SpringWorks Therapeutics by 38.2% in the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $25,000 after acquiring an additional 192 shares in the last quarter. AlphaQuest LLC grew its holdings in shares of SpringWorks Therapeutics by 70.2% in the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after buying an additional 414 shares during the period. State of Wyoming increased its holdings in shares of SpringWorks Therapeutics by 39.5% in the fourth quarter. State of Wyoming now owns 1,530 shares of the company’s stock worth $55,000 after acquiring an additional 433 shares in the last quarter. Barclays PLC grew its position in shares of SpringWorks Therapeutics by 0.3% in the 4th quarter. Barclays PLC now owns 156,123 shares of the company’s stock valued at $5,641,000 after purchasing an additional 447 shares during the period. Finally, Virtus ETF Advisers LLC lifted its holdings in shares of SpringWorks Therapeutics by 7.4% in the fourth quarter. Virtus ETF Advisers LLC now owns 9,037 shares of the company’s stock valued at $327,000 after purchasing an additional 622 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.