SpringWorks Therapeutics (NASDAQ:SWTX) Shares Down 4.5% – Should You Sell?

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)’s share price traded down 4.5% during mid-day trading on Wednesday . The company traded as low as $30.87 and last traded at $30.96. 112,765 shares traded hands during trading, a decline of 88% from the average session volume of 959,929 shares. The stock had previously closed at $32.41.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Wedbush reaffirmed an “outperform” rating and issued a $77.00 price target (up previously from $75.00) on shares of SpringWorks Therapeutics in a report on Wednesday, August 28th. Finally, HC Wainwright reissued a “buy” rating and set a $76.00 price objective on shares of SpringWorks Therapeutics in a research note on Wednesday, August 28th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $68.50.

SpringWorks Therapeutics Trading Down 5.0 %

The company’s 50-day moving average price is $36.44 and its two-hundred day moving average price is $39.73. The company has a market cap of $2.29 billion, a P/E ratio of -5.96 and a beta of 0.78.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Wednesday, August 7th. The company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($1.12) by $0.58. The company had revenue of $59.73 million during the quarter, compared to the consensus estimate of $34.42 million. During the same period in the previous year, the firm posted ($1.25) EPS. SpringWorks Therapeutics’s revenue for the quarter was up 59732900.0% on a year-over-year basis. As a group, analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.36 earnings per share for the current year.

Institutional Investors Weigh In On SpringWorks Therapeutics

Institutional investors have recently modified their holdings of the business. First Horizon Advisors Inc. grew its position in shares of SpringWorks Therapeutics by 47.9% during 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 during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of SpringWorks Therapeutics during the 2nd quarter valued at about $123,000. Quarry LP boosted its stake in SpringWorks Therapeutics by 56.3% during the 2nd quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $188,000 after purchasing an additional 1,800 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in SpringWorks Therapeutics by 20.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock valued at $220,000 after purchasing an additional 754 shares during the period. Finally, SG Americas Securities LLC boosted its stake in SpringWorks Therapeutics by 8.3% during the 1st quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock valued at $230,000 after purchasing an additional 358 shares during the period.

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.