SpringWorks Therapeutics, Inc. (NASDAQ:SWTX – Get Free Report) rose 2.6% during trading on Wednesday . The company traded as high as $42.87 and last traded at $42.13. Approximately 200,632 shares were traded during trading, a decline of 79% from the average daily volume of 965,936 shares. The stock had previously closed at $41.07.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on SWTX. HC Wainwright reiterated a “buy” rating and set a $76.00 price objective on shares of SpringWorks Therapeutics in a research note on Wednesday. Wedbush restated an “outperform” rating and set a $77.00 price objective (up previously from $75.00) on shares of SpringWorks Therapeutics in a report on Wednesday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $69.50.
Check Out Our Latest Stock Report on SWTX
SpringWorks Therapeutics Stock Performance
SpringWorks Therapeutics (NASDAQ:SWTX – Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.12) by $0.58. The firm had revenue of $59.73 million during the quarter, compared to analyst estimates of $34.42 million. During the same quarter in the prior year, the firm earned ($1.25) earnings per share. The business’s revenue for the quarter was up 59732900.0% on a year-over-year basis. Equities research analysts forecast that SpringWorks Therapeutics, Inc. will post -3.34 earnings per share for the current year.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in SWTX. First Horizon Advisors Inc. grew its holdings in SpringWorks Therapeutics by 47.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock valued at $45,000 after buying an additional 383 shares in the last quarter. Strs Ohio acquired a new position in shares of SpringWorks Therapeutics in the fourth quarter valued at approximately $102,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of SpringWorks Therapeutics during the second quarter worth $123,000. Quarry LP boosted its stake in shares of SpringWorks Therapeutics by 56.3% in the 2nd quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $188,000 after buying an additional 1,800 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its stake in SpringWorks Therapeutics by 20.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock worth $220,000 after acquiring an additional 754 shares during the last quarter.
SpringWorks Therapeutics Company Profile
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.
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