SpringWorks Therapeutics (NASDAQ:SWTX) Trading 5.8% Higher – What’s Next?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)’s stock price shot up 5.8% on Thursday . The stock traded as high as $36.78 and last traded at $36.72. 1,173,270 shares traded hands during trading, an increase of 20% from the average session volume of 979,290 shares. The stock had previously closed at $34.71.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Wedbush reissued an “outperform” rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a research report on Thursday, November 7th. Finally, HC Wainwright dropped their target price on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SpringWorks Therapeutics currently has an average rating of “Buy” and an average target price of $68.17.

SpringWorks Therapeutics Trading Down 0.3 %

The company has a 50 day moving average of $32.70 and a 200-day moving average of $37.14. The firm has a market capitalization of $2.71 billion, a P/E ratio of -9.39 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.04. The firm had revenue of $49.10 million during the quarter, compared to the consensus estimate of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The company’s revenue was up 4810.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.27) EPS. As a group, sell-side analysts forecast that SpringWorks Therapeutics, Inc. will post -3.17 EPS for the current fiscal year.

Institutional Trading of SpringWorks Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of SpringWorks Therapeutics by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company’s stock valued at $53,526,000 after acquiring an additional 109,189 shares during the period. Barclays PLC lifted its position in shares of SpringWorks Therapeutics by 60.4% during the 3rd quarter. Barclays PLC now owns 155,676 shares of the company’s stock worth $4,987,000 after buying an additional 58,645 shares during the last quarter. Main Management ETF Advisors LLC bought a new stake in shares of SpringWorks Therapeutics during the 3rd quarter worth $746,000. Wellington Management Group LLP lifted its position in shares of SpringWorks Therapeutics by 5.6% during the 3rd quarter. Wellington Management Group LLP now owns 34,994 shares of the company’s stock worth $1,121,000 after buying an additional 1,853 shares during the last quarter. Finally, Soros Fund Management LLC lifted its position in shares of SpringWorks Therapeutics by 45.3% during the 3rd quarter. Soros Fund Management LLC now owns 559,321 shares of the company’s stock worth $17,921,000 after buying an additional 174,321 shares during 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.