SpringWorks Therapeutics (NASDAQ:SWTX) Sees Unusually-High Trading Volume – What’s Next?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) saw strong trading volume on Thursday . 1,343,134 shares were traded during mid-day trading, an increase of 10% from the previous session’s volume of 1,223,366 shares.The stock last traded at $52.66 and had previously closed at $50.59.

Analysts Set New Price Targets

SWTX has been the topic of a number of research reports. Wedbush reissued an “outperform” rating and set a $81.00 price target on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. Guggenheim lowered their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. HC Wainwright restated a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Finally, Evercore ISI increased their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $73.20.

SpringWorks Therapeutics Trading Up 2.0 %

The stock has a fifty day simple moving average of $43.86 and a two-hundred day simple moving average of $38.66. The company has a market cap of $3.87 billion, a PE ratio of -14.82 and a beta of 0.76.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results 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). The business had revenue of $61.55 million during the quarter, compared to analysts’ expectations of $60.53 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. As a group, equities research analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current fiscal year.

Insider Transactions at SpringWorks Therapeutics

In related news, Director Daniel Lynch sold 175,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $54.46, for a total value of $9,530,500.00. Following the completion of the transaction, the director now directly owns 130,944 shares of the company’s stock, valued at $7,131,210.24. This trade represents a 57.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Badreddin Edris sold 20,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $54.23, for a total value of $1,084,600.00. Following the sale, the chief operating officer now owns 169,712 shares in the company, valued at approximately $9,203,481.76. The trade was a 10.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 440,766 shares of company stock valued at $24,402,956 in the last ninety days. 7.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Huntington National Bank increased its holdings in SpringWorks Therapeutics by 38.2% during 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 increased its stake in shares of SpringWorks Therapeutics by 70.2% during the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after purchasing an additional 414 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of SpringWorks Therapeutics during the 4th quarter worth approximately $45,000. State of Wyoming lifted its stake in SpringWorks Therapeutics by 39.5% in the 4th quarter. State of Wyoming now owns 1,530 shares of the company’s stock valued at $55,000 after buying an additional 433 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in SpringWorks Therapeutics during the 4th quarter valued at $56,000.

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.