SpringWorks Therapeutics’ (SWTX) “Neutral” Rating Reiterated at HC Wainwright

HC Wainwright reissued their neutral rating on shares of SpringWorks Therapeutics (NASDAQ:SWTX) in a research report report published on Wednesday morning, Marketbeat Ratings reports. They currently have a $47.00 price target on the stock, down from their previous price target of $74.00.

Several other equities research analysts have also issued reports on SWTX. Evercore ISI lowered SpringWorks Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Cowen lowered shares of SpringWorks Therapeutics to a “hold” rating in a research note on Tuesday. Barclays reaffirmed an “equal weight” rating and issued a $47.00 price objective (down previously from $63.00) on shares of SpringWorks Therapeutics in a research note on Monday, April 28th. Guggenheim cut shares of SpringWorks Therapeutics from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $77.00 to $47.00 in a report on Monday. Finally, Wedbush reaffirmed a “neutral” rating and issued a $47.00 price target (down previously from $81.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $52.57.

SpringWorks Therapeutics Stock Performance

SWTX stock opened at $46.23 on Wednesday. The firm has a 50 day simple moving average of $45.13 and a 200 day simple moving average of $41.04. SpringWorks Therapeutics has a 52 week low of $28.21 and a 52 week high of $62.00. The stock has a market cap of $3.47 billion, a P/E ratio of -13.28 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The company had revenue of $61.55 million for the quarter, compared to analysts’ expectations of $60.53 million. Sell-side analysts predict that SpringWorks Therapeutics will post -2.05 EPS for the current year.

Insider Activity

In related news, insider Bhavesh Ashar sold 1,016 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $61.19, for a total transaction of $62,169.04. Following the transaction, the insider now owns 62,053 shares of the company’s stock, valued at approximately $3,797,023.07. The trade was a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Badreddin Edris sold 30,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $53.13, for a total transaction of $1,593,900.00. Following the completion of the sale, the chief operating officer now directly owns 189,712 shares of the company’s stock, valued at approximately $10,079,398.56. This trade represents a 13.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 440,766 shares of company stock valued at $24,402,956. 7.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in SpringWorks Therapeutics by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock valued at $258,650,000 after acquiring an additional 445,593 shares during the period. Boxer Capital Management LLC acquired a new position in shares of SpringWorks Therapeutics in the fourth quarter valued at $123,620,000. Pictet Asset Management Holding SA lifted its position in SpringWorks Therapeutics by 24.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock worth $86,402,000 after purchasing an additional 465,494 shares during the period. Capital International Investors boosted its stake in SpringWorks Therapeutics by 92.7% during the fourth quarter. Capital International Investors now owns 2,361,746 shares of the company’s stock worth $85,330,000 after buying an additional 1,136,079 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its holdings in SpringWorks Therapeutics by 0.5% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,499,134 shares of the company’s stock valued at $54,164,000 after buying an additional 7,072 shares during the period.

About SpringWorks Therapeutics

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.