SpringWorks Therapeutics (NASDAQ:SWTX) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of SpringWorks Therapeutics (NASDAQ:SWTXGet Rating) from a hold rating to a sell rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “SpringWorks Therapeutics Inc. is a clinical-stage biopharmaceutical company. It is focused on developing life-changing medicines for patients with severe rare diseases and cancer. The company’s product pipeline consists of Nirogacestat and Mirdametinib which are in clinical stage. SpringWorks Therapeutics Inc. is based in Stamford, United States. “

Separately, HC Wainwright increased their price target on shares of SpringWorks Therapeutics from $137.00 to $142.00 in a report on Tuesday, March 1st.

Shares of NASDAQ SWTX opened at $39.19 on Wednesday. The company’s fifty day moving average price is $52.62 and its 200 day moving average price is $59.28. SpringWorks Therapeutics has a 1 year low of $33.33 and a 1 year high of $89.75.

SpringWorks Therapeutics (NASDAQ:SWTXGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($1.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.24). During the same period in the previous year, the firm earned ($0.62) EPS. On average, research analysts anticipate that SpringWorks Therapeutics will post -4.75 EPS for the current year.

A number of large investors have recently bought and sold shares of SWTX. Norges Bank acquired a new position in SpringWorks Therapeutics during the fourth quarter worth $35,563,000. Marshall Wace LLP raised its position in SpringWorks Therapeutics by 1,850.5% during the fourth quarter. Marshall Wace LLP now owns 407,519 shares of the company’s stock worth $25,258,000 after acquiring an additional 386,626 shares during the period. Bank of America Corp DE raised its position in SpringWorks Therapeutics by 32.9% during the fourth quarter. Bank of America Corp DE now owns 1,514,373 shares of the company’s stock worth $93,861,000 after acquiring an additional 374,608 shares during the period. Pictet Asset Management SA raised its position in SpringWorks Therapeutics by 88.5% during the fourth quarter. Pictet Asset Management SA now owns 693,655 shares of the company’s stock worth $42,993,000 after acquiring an additional 325,706 shares during the period. Finally, Fiera Capital Corp raised its position in shares of SpringWorks Therapeutics by 93.5% in the fourth quarter. Fiera Capital Corp now owns 650,413 shares of the company’s stock valued at $40,313,000 after buying an additional 314,311 shares during the last quarter. Institutional investors own 96.20% of the company’s stock.

SpringWorks Therapeutics Company Profile (Get Rating)

SpringWorks Therapeutics, Inc acquires, develops, and commercializes medicines for underserved patient populations suffering from rare diseases and cancer. Its lead product candidate is nirogacestat, an oral small molecule gamma secretase inhibitor that is in Phase III clinical trial for the treatment of desmoid tumors.

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