SpringWorks Therapeutics (NASDAQ:SWTX) shares rose 9.4% on Wednesday . The stock traded as high as $34.35 and last traded at $33.30, approximately 169,200 shares changed hands during mid-day trading. An increase of 62% from the average daily volume of 104,163 shares. The stock had previously closed at $30.45.
SWTX has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and issued a $40.00 target price on shares of SpringWorks Therapeutics in a research note on Monday, February 3rd. Zacks Investment Research downgraded shares of SpringWorks Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, February 4th. Finally, Cowen reiterated a “buy” rating on shares of SpringWorks Therapeutics in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. SpringWorks Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $35.50.
The company has a 50 day simple moving average of $35.18.
Several large investors have recently bought and sold shares of SWTX. Bank of Montreal Can acquired a new stake in shares of SpringWorks Therapeutics during the fourth quarter worth $50,000. Bank of America Corp DE acquired a new stake in shares of SpringWorks Therapeutics during the fourth quarter worth $64,000. Citigroup Inc. acquired a new stake in shares of SpringWorks Therapeutics during the fourth quarter worth $81,000. Strs Ohio acquired a new position in SpringWorks Therapeutics during the fourth quarter valued at $103,000. Finally, American International Group Inc. acquired a new position in SpringWorks Therapeutics during the fourth quarter valued at $252,000. Institutional investors and hedge funds own 72.16% of the company’s stock.
About SpringWorks Therapeutics (NASDAQ:SWTX)
SpringWorks Therapeutics, Inc, a clinical-stage biopharmaceutical company, acquires, develops, and commercializes medicines for underserved patient populations suffering from rare diseases and cancer. Its advanced product candidate is nirogacestat, an oral small molecule gamma secretase inhibitor that is in Phase 3 clinical trials for the treatment of desmoid tumors.
Read More: Debt-To-Equity Ratio
Receive News & Ratings for SpringWorks Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SpringWorks Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.