SpringWorks Therapeutics (NASDAQ:SWTX) Sees Unusually-High Trading Volume

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) saw unusually-high trading volume on Thursday . Approximately 759,786 shares traded hands during mid-day trading, a decline of 30% from the previous session’s volume of 1,085,049 shares.The stock last traded at $42.19 and had previously closed at $46.84.

Analyst Ratings Changes

A number of equities research analysts have commented on SWTX shares. Barclays lifted their target price on SpringWorks Therapeutics from $47.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. HC Wainwright increased their price target on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Guggenheim started coverage on shares of SpringWorks Therapeutics in a research note on Monday, February 5th. They issued a “buy” rating and a $75.00 price objective for the company. Wedbush upped their target price on shares of SpringWorks Therapeutics from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, February 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $68.00.

SpringWorks Therapeutics Price Performance

The stock’s 50 day moving average is $47.40 and its two-hundred day moving average is $38.36. The stock has a market capitalization of $3.30 billion, a PE ratio of -8.39 and a beta of 0.84.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($1.44) EPS for the quarter, missing the consensus estimate of ($1.24) by ($0.20). The business had revenue of $5.45 million for the quarter, compared to the consensus estimate of $1.26 million. During the same period in the previous year, the business earned ($1.19) EPS. On average, equities analysts predict that SpringWorks Therapeutics, Inc. will post -4.69 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Daniel Pichl sold 15,000 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $50.10, for a total transaction of $751,500.00. Following the completion of the transaction, the insider now directly owns 45,212 shares of the company’s stock, valued at approximately $2,265,121.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 7.61% of the company’s stock.

Institutional Trading of SpringWorks Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of SpringWorks Therapeutics by 0.4% during the third quarter. Vanguard Group Inc. now owns 4,922,462 shares of the company’s stock worth $113,807,000 after purchasing an additional 20,651 shares during the last quarter. Mutual of America Capital Management LLC purchased a new position in SpringWorks Therapeutics during the 4th quarter worth approximately $2,344,000. Walleye Capital LLC increased its position in SpringWorks Therapeutics by 196.8% during the third quarter. Walleye Capital LLC now owns 144,307 shares of the company’s stock worth $3,336,000 after buying an additional 95,694 shares during the period. Charles Schwab Investment Management Inc. increased its position in SpringWorks Therapeutics by 16.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 423,764 shares of the company’s stock worth $9,797,000 after buying an additional 59,138 shares during the period. Finally, Fiera Capital Corp lifted its stake in SpringWorks Therapeutics by 2.9% in the third quarter. Fiera Capital Corp now owns 892,934 shares of the company’s stock valued at $20,645,000 after buying an additional 25,510 shares during 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.