SpringWorks Therapeutics (NASDAQ:SWTX) Posts Earnings Results, Misses Expectations By $0.26 EPS

SpringWorks Therapeutics (NASDAQ:SWTXGet Rating) announced its quarterly earnings data on Thursday. The company reported ($1.41) EPS for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.26), Briefing.com reports. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.97) earnings per share.

SpringWorks Therapeutics Price Performance

SWTX stock opened at $36.86 on Friday. The stock has a 50-day moving average price of $26.09 and a two-hundred day moving average price of $42.59. SpringWorks Therapeutics has a 12-month low of $13.60 and a 12-month high of $88.05.

Analyst Ratings Changes

SWTX has been the subject of a number of recent analyst reports. Wedbush set a $53.00 price objective on SpringWorks Therapeutics in a research report on Monday, June 20th. The Goldman Sachs Group lowered their price objective on SpringWorks Therapeutics from $92.00 to $76.00 and set a “buy” rating for the company in a research report on Tuesday, May 24th. Finally, HC Wainwright lowered their price objective on SpringWorks Therapeutics from $142.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, June 6th.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in SpringWorks Therapeutics by 1.8% during the first quarter. Royal Bank of Canada now owns 26,465 shares of the company’s stock valued at $1,494,000 after acquiring an additional 479 shares during the period. Rhumbline Advisers grew its position in SpringWorks Therapeutics by 3.7% during the first quarter. Rhumbline Advisers now owns 30,629 shares of the company’s stock valued at $1,729,000 after acquiring an additional 1,101 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of SpringWorks Therapeutics by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 195,539 shares of the company’s stock worth $11,040,000 after purchasing an additional 3,296 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of SpringWorks Therapeutics by 52.4% during the first quarter. MetLife Investment Management LLC now owns 16,081 shares of the company’s stock worth $908,000 after purchasing an additional 5,529 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of SpringWorks Therapeutics by 3.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 197,624 shares of the company’s stock worth $11,154,000 after purchasing an additional 6,365 shares in the last quarter. Hedge funds and other institutional investors own 96.20% of the company’s stock.

SpringWorks Therapeutics Company Profile

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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.

See Also

Earnings History for SpringWorks Therapeutics (NASDAQ:SWTX)

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