SpringWorks Therapeutics (NASDAQ:SWTX) Hits New 1-Year High – Here’s Why

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) reached a new 52-week high on Tuesday . The stock traded as high as $60.00 and last traded at $54.00, with a volume of 15996095 shares. The stock had previously closed at $40.28.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a report on Monday. Evercore ISI assumed coverage on shares of SpringWorks Therapeutics in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price target on the stock. HC Wainwright reduced their target price on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, Guggenheim cut their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $70.00.

SpringWorks Therapeutics Price Performance

The stock’s 50 day moving average is $37.86 and its two-hundred day moving average is $36.16.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.03. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The business had revenue of $49.10 million during the quarter, compared to analysts’ expectations of $53.28 million. During the same period in the prior year, the firm posted ($1.27) EPS. SpringWorks Therapeutics’s quarterly revenue was up 4810.0% compared to the same quarter last year. On average, equities analysts expect that SpringWorks Therapeutics, Inc. will post -3.03 EPS for the current year.

Insider Transactions at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total value of $839,400.00. Following the completion of the transaction, the chief operating officer now owns 209,600 shares in the company, valued at approximately $8,796,912. The trade was a 8.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.61% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. AlphaQuest LLC raised its stake in shares of SpringWorks Therapeutics by 70.2% in the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after acquiring an additional 414 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of SpringWorks Therapeutics in the 4th quarter valued at $45,000. KBC Group NV lifted its stake in shares of SpringWorks Therapeutics by 59.1% during the fourth quarter. KBC Group NV now owns 2,634 shares of the company’s stock valued at $95,000 after acquiring an additional 978 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in SpringWorks Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after acquiring an additional 474 shares during the last quarter. Finally, US Bancorp DE increased its position in SpringWorks Therapeutics by 56.0% in the fourth quarter. US Bancorp DE now owns 4,336 shares of the company’s stock worth $157,000 after purchasing an additional 1,556 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.