SpringWorks Therapeutics (NASDAQ:SWTX) Shares Gap Up on Analyst Upgrade

Posted by Defense World Staff on Mar 8th, 2023

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX – Get Rating)’s stock price gapped up prior to trading on Tuesday after HC Wainwright raised their price target on the stock from $99.00 to $105.00. The stock had previously closed at $30.39, but opened at $31.73. SpringWorks Therapeutics shares last traded at $31.58, with a volume of 65,823 shares changing hands.

Other analysts have also recently issued research reports about the stock. Wedbush set a $45.00 price target on shares of SpringWorks Therapeutics in a report on Thursday, November 24th. Bank of America initiated coverage on shares of SpringWorks Therapeutics in a report on Thursday, December 1st. They issued a “buy” rating and a $45.00 price target on the stock. Finally, The Goldman Sachs Group raised their price objective on SpringWorks Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, January 26th.

Insider Buying and Selling at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, insider Daniel Pichl sold 858 shares of the firm’s stock in a transaction on Thursday, January 26th. The stock was sold at an average price of $31.00, for a total transaction of $26,598.00. Following the completion of the transaction, the insider now owns 35,203 shares of the company’s stock, valued at $1,091,293. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 28.95% of the company’s stock.

Hedge Funds Weigh In On SpringWorks Therapeutics

Large investors have recently modified their holdings of the stock. High Net Worth Advisory Group LLC raised its position in shares of SpringWorks Therapeutics by 100.0% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 1,000 shares of the company’s stock worth $29,000 after purchasing an additional 500 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in shares of SpringWorks Therapeutics in the 3rd quarter worth about $43,000. Nisa Investment Advisors LLC raised its position in shares of SpringWorks Therapeutics by 107.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,780 shares of the company’s stock worth $44,000 after purchasing an additional 920 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in SpringWorks Therapeutics by 887.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,826 shares of the company’s stock worth $52,000 after buying an additional 1,641 shares in the last quarter. Finally, Amundi bought a new stake in SpringWorks Therapeutics in the 2nd quarter worth about $77,000.

SpringWorks Therapeutics Trading Up 2.7 %

The firm has a fifty day moving average of $29.35 and a 200 day moving average of $26.86. The company has a market capitalization of $1.95 billion, a P/E ratio of -5.97 and a beta of 0.63.

SpringWorks Therapeutics (NASDAQ:SWTX – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The company reported ($1.19) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.18). During the same period in the prior year, the company posted ($1.15) earnings per share. Sell-side analysts anticipate that SpringWorks Therapeutics, Inc. will post -4.84 EPS for the current fiscal year.

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.