SpringWorks Therapeutics (NASDAQ:SWTX) Trading 10.5% Higher

SpringWorks Therapeutics, Inc. (NASDAQ:SWTXGet Rating)’s stock price rose 10.5% during mid-day trading on Thursday . The company traded as high as $34.43 and last traded at $34.29. Approximately 15,684 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 620,867 shares. The stock had previously closed at $31.04.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SWTX. The Goldman Sachs Group dropped their price target on SpringWorks Therapeutics from $92.00 to $76.00 and set a “buy” rating on the stock in a research report on Tuesday, May 24th. HC Wainwright cut their target price on shares of SpringWorks Therapeutics from $142.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, June 6th. Finally, Wedbush set a $53.00 price target on shares of SpringWorks Therapeutics in a research report on Monday, June 20th.

SpringWorks Therapeutics Stock Up 7.2 %

The firm has a 50 day simple moving average of $26.09 and a 200 day simple moving average of $42.59.

SpringWorks Therapeutics (NASDAQ:SWTXGet Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported ($1.41) EPS for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.26). The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.97) EPS. On average, equities analysts expect that SpringWorks Therapeutics, Inc. will post -5.04 earnings per share for the current year.

Institutional Investors Weigh In On SpringWorks Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Horizon Advisors Inc. raised its holdings in shares of SpringWorks Therapeutics by 330.1% in the 4th quarter. First Horizon Advisors Inc. now owns 443 shares of the company’s stock valued at $27,000 after acquiring an additional 340 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in SpringWorks Therapeutics by 107.0% in the second quarter. Nisa Investment Advisors LLC now owns 1,780 shares of the company’s stock valued at $44,000 after purchasing an additional 920 shares in the last quarter. Assetmark Inc. lifted its position in SpringWorks Therapeutics by 319.7% during the second quarter. Assetmark Inc. now owns 1,813 shares of the company’s stock valued at $45,000 after purchasing an additional 1,381 shares during the last quarter. Parallel Advisors LLC grew its stake in SpringWorks Therapeutics by 34.7% in the 1st quarter. Parallel Advisors LLC now owns 1,028 shares of the company’s stock worth $61,000 after buying an additional 265 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of SpringWorks Therapeutics by 20.7% in the 2nd quarter. US Bancorp DE now owns 3,246 shares of the company’s stock worth $80,000 after buying an additional 556 shares during the last quarter. Hedge funds and other institutional investors own 96.20% of the company’s stock.

SpringWorks Therapeutics Company Profile

(Get Rating)

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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