SpringWorks Therapeutics (NASDAQ:SWTX) Trading Up 8.1%

Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTXGet Rating) were up 8.1% during trading on Friday . The company traded as high as $22.24 and last traded at $22.12. Approximately 11,117 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 2,192,851 shares. The stock had previously closed at $20.47.

A number of analysts have commented on SWTX shares. Wedbush reduced their price objective on SpringWorks Therapeutics from $110.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, May 27th. The Goldman Sachs Group dropped their target price on SpringWorks Therapeutics from $92.00 to $76.00 and set a “buy” rating for the company in a report on Tuesday, May 24th. Finally, HC Wainwright dropped their target price on SpringWorks Therapeutics from $142.00 to $95.00 and set a “buy” rating for the company in a report on Monday, June 6th.

The stock has a fifty day moving average price of $36.56 and a 200-day moving average price of $51.93. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -5.30 and a beta of 1.08.

SpringWorks Therapeutics (NASDAQ:SWTXGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($1.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.24). During the same quarter in the previous year, the business earned ($0.62) earnings per share. As a group, equities research analysts expect that SpringWorks Therapeutics, Inc. will post -5.04 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd increased its holdings in SpringWorks Therapeutics by 57.0% during the 4th quarter. Qube Research & Technologies Ltd now owns 8,297 shares of the company’s stock valued at $514,000 after purchasing an additional 3,013 shares in the last quarter. Marshall Wace LLP increased its holdings in SpringWorks Therapeutics by 1,850.5% during the 4th quarter. Marshall Wace LLP now owns 407,519 shares of the company’s stock valued at $25,258,000 after purchasing an additional 386,626 shares in the last quarter. Pictet Asset Management SA boosted its position in SpringWorks Therapeutics by 88.5% in the 4th quarter. Pictet Asset Management SA now owns 693,655 shares of the company’s stock valued at $42,993,000 after buying an additional 325,706 shares during the last quarter. Credit Suisse AG boosted its position in SpringWorks Therapeutics by 19.0% in the 3rd quarter. Credit Suisse AG now owns 14,809 shares of the company’s stock valued at $939,000 after buying an additional 2,367 shares during the last quarter. Finally, Woodline Partners LP boosted its position in SpringWorks Therapeutics by 1,719.0% in the 4th quarter. Woodline Partners LP now owns 242,400 shares of the company’s stock valued at $15,024,000 after buying an additional 229,074 shares during the last quarter. 96.20% of the stock is owned by hedge funds and other institutional investors.

SpringWorks Therapeutics Company Profile (NASDAQ:SWTX)

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.

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