SpringWorks Therapeutics (NASDAQ:SWTX) Shares Down 4.5% – Should You Sell?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) shares fell 4.5% during trading on Wednesday . The company traded as low as $30.87 and last traded at $30.96. 112,765 shares were traded during mid-day trading, a decline of 88% from the average session volume of 959,929 shares. The stock had previously closed at $32.41.

Analyst Ratings Changes

Several analysts recently weighed in on SWTX shares. Wedbush restated an “outperform” rating and issued a $77.00 price target (up previously from $75.00) on shares of SpringWorks Therapeutics in a research note on Wednesday, August 28th. JPMorgan Chase & Co. increased their target price on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $76.00 price target on shares of SpringWorks Therapeutics in a research report on Wednesday, August 28th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $68.50.

SpringWorks Therapeutics Trading Down 2.1 %

The firm has a market capitalization of $2.25 billion, a PE ratio of -6.85 and a beta of 0.78. The firm has a 50 day simple moving average of $36.24 and a 200 day simple moving average of $39.61.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($1.12) by $0.58. The business had revenue of $59.73 million for the quarter, compared to analysts’ expectations of $34.42 million. During the same period last year, the business earned ($1.25) earnings per share. The company’s quarterly revenue was up 59732900.0% on a year-over-year basis. Research analysts forecast that SpringWorks Therapeutics, Inc. will post -3.36 earnings per share for the current year.

Institutional Trading of SpringWorks Therapeutics

A number of large investors have recently made changes to their positions in SWTX. First Horizon Advisors Inc. boosted its position in SpringWorks Therapeutics by 47.9% in the second quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock worth $45,000 after purchasing an additional 383 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in SpringWorks Therapeutics during the second quarter valued at $123,000. Quarry LP grew its holdings 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 purchasing an additional 1,800 shares during the period. CANADA LIFE ASSURANCE Co increased its position in SpringWorks Therapeutics by 20.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock worth $220,000 after buying an additional 754 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of SpringWorks Therapeutics by 8.3% during the 1st quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock valued at $230,000 after buying an additional 358 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.