SpringWorks Therapeutics (NASDAQ:SWTX) Shares Down 7.6%

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX – Get Rating) shares traded down 7.6% during mid-day trading on Friday . The stock traded as low as $27.23 and last traded at $27.72. 247,425 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 669,930 shares. The stock had previously closed at $29.99.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. The Goldman Sachs Group boosted their price target on SpringWorks Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, January 26th. JPMorgan Chase & Co. boosted their price target on SpringWorks Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, March 7th. Wedbush set a $45.00 price target on SpringWorks Therapeutics in a research note on Thursday, November 24th. Bank of America began coverage on SpringWorks Therapeutics in a report on Thursday, December 1st. They set a “buy” rating and a $45.00 price objective for the company. Finally, HC Wainwright boosted their price objective on SpringWorks Therapeutics from $99.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, March 7th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, SpringWorks Therapeutics presently has a consensus rating of “Buy” and an average price target of $59.40.

SpringWorks Therapeutics Trading Down 6.3 %

The company has a fifty day moving average price of $29.66 and a 200 day moving average price of $26.94.

SpringWorks Therapeutics (NASDAQ:SWTX – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.18). During the same period last year, the company posted ($1.15) earnings per share. On average, sell-side analysts expect that SpringWorks Therapeutics, Inc. will post -5.16 EPS for the current year.

Insider Buying and Selling

In related news, insider Daniel Pichl sold 858 shares of the company’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 sale, the insider now owns 35,203 shares in the company, valued at $1,091,293. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 28.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. grew its stake in SpringWorks Therapeutics by 24,111.8% in the 4th quarter. Macquarie Group Ltd. now owns 32,928 shares of the company’s stock valued at $856,000 after purchasing an additional 32,792 shares during the period. Sphera Funds Management LTD. grew its stake in SpringWorks Therapeutics by 5.0% in the 4th quarter. Sphera Funds Management LTD. now owns 316,625 shares of the company’s stock valued at $8,235,000 after purchasing an additional 15,000 shares during the period. State of Wisconsin Investment Board grew its stake in SpringWorks Therapeutics by 11.2% in the 4th quarter. State of Wisconsin Investment Board now owns 59,892 shares of the company’s stock valued at $1,558,000 after purchasing an additional 6,018 shares during the period. Norges Bank bought a new position in SpringWorks Therapeutics in the 4th quarter valued at $9,304,000. Finally, Algert Global LLC bought a new position in SpringWorks Therapeutics in the 4th quarter valued at $474,000.

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.