SpringWorks Therapeutics (NASDAQ:SWTX) Shares Up 3.3%

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)’s stock price was up 3.3% during trading on Thursday . The stock traded as high as $40.97 and last traded at $40.83. Approximately 562,182 shares traded hands during trading, a decline of 42% from the average daily volume of 970,794 shares. The stock had previously closed at $39.52.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and issued a $75.00 price objective on shares of SpringWorks Therapeutics in a research note on Wednesday, August 7th. HC Wainwright restated a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research report on Friday, May 31st. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SpringWorks Therapeutics presently has an average rating of “Buy” and a consensus price target of $68.83.

SpringWorks Therapeutics Trading Up 1.3 %

The business has a 50 day moving average of $37.30 and a 200-day moving average of $42.74. The stock has a market cap of $3.05 billion, a PE ratio of -8.01 and a beta of 0.78.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.12) by $0.58. The company had revenue of $59.73 million during the quarter, compared to the consensus estimate of $34.42 million. During the same quarter last year, the firm posted ($1.25) EPS. The firm’s quarterly revenue was up 59732900.0% on a year-over-year basis. On average, equities research analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.34 EPS for the current fiscal year.

Hedge Funds Weigh In On SpringWorks Therapeutics

Several large investors have recently modified their holdings of the stock. Quarry LP raised its stake in SpringWorks Therapeutics by 56.3% during the second quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $188,000 after buying an additional 1,800 shares in the last quarter. Algert Global LLC increased its holdings in shares of SpringWorks Therapeutics by 62.7% in the 2nd quarter. Algert Global LLC now owns 34,989 shares of the company’s stock valued at $1,318,000 after acquiring an additional 13,489 shares during the last quarter. Maverick Capital Ltd. raised its position in shares of SpringWorks Therapeutics by 36.3% during the 2nd quarter. Maverick Capital Ltd. now owns 2,600,524 shares of the company’s stock valued at $97,962,000 after acquiring an additional 691,894 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in SpringWorks Therapeutics by 16.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 758,712 shares of the company’s stock worth $28,581,000 after purchasing an additional 109,865 shares during the last quarter. Finally, Duquesne Family Office LLC acquired a new position in SpringWorks Therapeutics in the second quarter worth $38,475,000.

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.