SpringWorks Therapeutics, Inc. (NASDAQ:SWTX – Get Rating)’s stock price was up 10.5% during trading on Thursday . The company traded as high as $34.43 and last traded at $34.29. Approximately 15,684 shares changed hands during trading, a decline of 97% from the average daily volume of 620,867 shares. The stock had previously closed at $31.04.
Analysts Set New Price Targets
A number of research firms have weighed in on SWTX. The Goldman Sachs Group decreased their price target on SpringWorks Therapeutics from $92.00 to $76.00 and set a “buy” rating for the company in a research note on Tuesday, May 24th. HC Wainwright lowered their target price on shares of SpringWorks Therapeutics from $142.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, June 6th. Finally, Wedbush set a $53.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, June 20th.
SpringWorks Therapeutics Trading Up 7.2 %
The company’s 50-day simple moving average is $26.09 and its 200-day simple moving average is $42.59.
Institutional Investors Weigh In On SpringWorks Therapeutics
Institutional investors and hedge funds have recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its stake in SpringWorks Therapeutics by 330.1% in the fourth quarter. First Horizon Advisors Inc. now owns 443 shares of the company’s stock valued at $27,000 after buying an additional 340 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of SpringWorks Therapeutics by 107.0% during the second quarter. Nisa Investment Advisors LLC now owns 1,780 shares of the company’s stock worth $44,000 after buying an additional 920 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of SpringWorks Therapeutics by 319.7% during the 2nd quarter. Assetmark Inc. now owns 1,813 shares of the company’s stock valued at $45,000 after acquiring an additional 1,381 shares in the last quarter. Parallel Advisors LLC grew its position in SpringWorks Therapeutics by 34.7% during the 1st quarter. Parallel Advisors LLC now owns 1,028 shares of the company’s stock worth $61,000 after acquiring an additional 265 shares during the last quarter. Finally, US Bancorp DE increased its holdings in 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 purchasing an additional 556 shares in the last quarter. Institutional investors own 96.20% of the company’s stock.
SpringWorks Therapeutics Company Profile
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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