SpringWorks Therapeutics (NASDAQ:SWTX) Stock Price Down 5.7%

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) shares were down 5.7% during trading on Monday . The stock traded as low as $35.71 and last traded at $35.86. Approximately 462,743 shares were traded during trading, a decline of 52% from the average daily volume of 972,282 shares. The stock had previously closed at $38.04.

Wall Street Analyst Weigh In

Several research analysts recently commented on SWTX shares. HC Wainwright reissued a “buy” rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a research note on Friday, May 31st. Wedbush reissued an “outperform” rating and set a $75.00 target price (up from $70.00) on shares of SpringWorks Therapeutics in a research note on Thursday, May 2nd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $68.83.

SpringWorks Therapeutics Trading Down 3.3 %

The firm has a market cap of $2.73 billion, a PE ratio of -7.40 and a beta of 0.78. The business has a fifty day moving average price of $39.06 and a 200 day moving average price of $43.57.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.01). The firm had revenue of $21.00 million during the quarter, compared to analyst estimates of $12.07 million. During the same quarter in the prior year, the firm posted ($1.18) EPS. The business’s revenue was up 2000.0% on a year-over-year basis. On average, research analysts expect that SpringWorks Therapeutics, Inc. will post -4.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SWTX. Lord Abbett & CO. LLC purchased a new position in SpringWorks Therapeutics during the 1st quarter worth approximately $114,083,000. Point72 Asset Management L.P. grew its stake in SpringWorks Therapeutics by 310.7% during the 4th quarter. Point72 Asset Management L.P. now owns 2,162,176 shares of the company’s stock worth $78,919,000 after buying an additional 1,635,722 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in SpringWorks Therapeutics by 48.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company’s stock worth $202,318,000 after buying an additional 1,333,892 shares during the last quarter. Vanguard Group Inc. grew its stake in SpringWorks Therapeutics by 22.6% during the 4th quarter. Vanguard Group Inc. now owns 6,036,542 shares of the company’s stock worth $220,334,000 after buying an additional 1,114,080 shares during the last quarter. Finally, RTW Investments LP acquired a new stake in SpringWorks Therapeutics during the 4th quarter worth approximately $22,812,000.

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.