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

SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)’s share price gapped down before the market opened on Monday . The stock had previously closed at $43.00, but opened at $38.50. SpringWorks Therapeutics shares last traded at $36.06, with a volume of 460,938 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SWTX shares. Guggenheim lowered their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Evercore ISI started coverage on shares of SpringWorks Therapeutics in a research note on Wednesday, November 20th. They set an “outperform” rating and a $60.00 target price on the stock. HC Wainwright decreased their price target on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, Wedbush reaffirmed an “outperform” rating and set a $77.00 price objective on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $70.00.

SpringWorks Therapeutics Price Performance

The business’s 50 day simple moving average is $37.83 and its 200 day simple moving average is $36.44. The company has a market capitalization of $2.74 billion, a PE ratio of -9.48 and a beta of 0.82.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.03. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The firm had revenue of $49.10 million for the quarter, compared to analyst estimates of $53.28 million. During the same period in the previous year, the firm earned ($1.27) EPS. SpringWorks Therapeutics’s revenue was up 4810.0% on a year-over-year basis. As a group, analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.12 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 dated Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total transaction of $839,400.00. Following the completion of the sale, the chief operating officer now directly owns 209,600 shares of the company’s stock, valued at $8,796,912. The trade was a 8.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.61% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 in the last quarter. Quantbot Technologies LP acquired a new stake in SpringWorks Therapeutics during the 3rd quarter worth $147,000. Quarry LP grew its holdings in shares of SpringWorks Therapeutics by 56.3% during the second quarter. Quarry LP now owns 5,000 shares of the company’s stock worth $188,000 after buying an additional 1,800 shares during the last quarter. Commerce Bank acquired a new position in SpringWorks Therapeutics in the 3rd quarter valued at $207,000. Finally, GSA Capital Partners LLP purchased a new position in SpringWorks Therapeutics during the 3rd quarter worth $209,000.

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.