SpringWorks Therapeutics (NASDAQ:SWTX) Trading Down 6.4% – Time to Sell?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)’s share price was down 6.4% during trading on Tuesday . The stock traded as low as $34.17 and last traded at $34.63. Approximately 529,996 shares changed hands during trading, a decline of 75% from the average daily volume of 2,084,453 shares. The stock had previously closed at $37.01.

Wall Street Analysts Forecast Growth

SWTX has been the topic of a number of research analyst reports. HC Wainwright decreased their target price on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Evercore ISI began coverage on shares of SpringWorks Therapeutics in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price objective on the stock. Guggenheim dropped their target price on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Wedbush reissued an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Monday. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $70.00.

SpringWorks Therapeutics Trading Up 6.3 %

The stock has a fifty day moving average of $37.98 and a two-hundred day moving average of $36.38. The company has a market capitalization of $2.65 billion, a PE ratio of -9.17 and a beta of 0.82.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.03. The business had revenue of $49.10 million for the quarter, compared to analysts’ expectations of $53.28 million. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The business’s quarterly revenue was up 4810.0% on a year-over-year basis. During the same period last year, the business earned ($1.27) earnings per share. Equities analysts forecast that SpringWorks Therapeutics, Inc. will post -3.12 EPS for the current year.

Insider Buying and Selling

In related news, COO Badreddin Edris sold 20,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total transaction of $839,400.00. Following the completion of the sale, the chief operating officer now directly owns 209,600 shares in the company, valued at $8,796,912. This represents a 8.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 7.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SpringWorks Therapeutics

A number of large investors have recently bought and sold shares of the stock. FMR LLC grew its holdings in shares of SpringWorks Therapeutics by 0.3% in the third quarter. FMR LLC now owns 11,140,946 shares of the company’s stock worth $356,956,000 after purchasing an additional 28,555 shares during the last quarter. Maverick Capital Ltd. boosted its position in SpringWorks Therapeutics by 6.8% during the 3rd quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock valued at $89,018,000 after buying an additional 177,824 shares during the period. Geode Capital Management LLC grew its holdings in SpringWorks Therapeutics by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company’s stock worth $53,526,000 after acquiring an additional 109,189 shares during the last quarter. Duquesne Family Office LLC bought a new stake in SpringWorks Therapeutics in the 2nd quarter worth $38,475,000. Finally, Principal Financial Group Inc. increased its position in shares of SpringWorks Therapeutics by 102.5% in the third 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 during the period.

About SpringWorks Therapeutics

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.