SpringWorks Therapeutics (NASDAQ:SWTX)’s stock price rose 3.7% during trading on Monday . The company traded as high as $23.72 and last traded at $23.66, approximately 550 shares traded hands during mid-day trading. A decline of 100% from the average daily volume of 126,190 shares. The stock had previously closed at $22.81.
Several equities research analysts have weighed in on the stock. Goldman Sachs Group initiated coverage on shares of SpringWorks Therapeutics in a research note on Tuesday, October 8th. They issued a “buy” rating and a $37.00 price target for the company. Wedbush started coverage on shares of SpringWorks Therapeutics in a research report on Tuesday, October 8th. They set an “outperform” rating and a $33.00 price objective on the stock. Cowen initiated coverage on SpringWorks Therapeutics in a research note on Tuesday, October 8th. They issued an “outperform” rating for the company. Finally, JPMorgan Chase & Co. started coverage on SpringWorks Therapeutics in a research report on Tuesday, October 8th. They issued an “overweight” rating and a $32.00 target price for the company.
The firm’s fifty day moving average is $20.09.
In related news, Director Stephen P. Squinto purchased 275,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were bought at an average cost of $18.00 per share, with a total value of $4,950,000.00. Also, major shareholder Bain Capital Life Sciences Inv purchased 150,000 shares of SpringWorks Therapeutics stock in a transaction that occurred on Tuesday, September 17th. The shares were bought at an average price of $18.00 per share, with a total value of $2,700,000.00.
An institutional investor recently bought a new position in SpringWorks Therapeutics stock. Millennium Management LLC bought a new stake in SpringWorks Therapeutics (NASDAQ:SWTX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 403,613 shares of the company’s stock, valued at approximately $8,750,000. Millennium Management LLC owned about 0.94% of SpringWorks Therapeutics as of its most recent SEC filing. 72.13% of the stock is owned by institutional investors and hedge funds.
About SpringWorks Therapeutics (NASDAQ:SWTX)
SpringWorks Therapeutics, Inc, a clinical-stage biopharmaceutical company, acquires, develops, and commercializes medicines for underserved patient populations suffering from rare diseases and cancer. Its advanced product candidate is nirogacestat, an oral small molecule gamma secretase inhibitor that is in Phase 3 clinical trials for the treatment of desmoid tumors.
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