SpringWorks Therapeutics Inc (NASDAQ: SWTX) stock jumped 4.94% on Friday to $21.46 against a previous-day closing price of $20.45. With 1.03 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.63 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $21.88 whereas the lowest price it dropped to was $20.73. The 52-week range on SWTX shows that it touched its highest point at $34.16 and its lowest point at $18.00 during that stretch. It currently has a 1-year price target of $47.20. Beta for the stock currently stands at 0.57.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SWTX was up-trending over the past week, with a rise of 13.31%, but this was down by -1.33% over a month. Three-month performance dropped to -22.67% while six-month performance fell -29.62%. The stock lost -15.88% in the past year, while it has lost -17.49% so far this year. A look at the trailing 12-month EPS for SWTX yields -4.88 with Next year EPS estimates of -4.56. For the next quarter, that number is -1.27. This implies an EPS growth rate of 1.65% for this year and 11.01% for next year.
Float and Shares Shorts:
At present, 62.42 million SWTX shares are outstanding with a float of 48.40 million shares on hand for trading. On Oct 30, 2023, short shares totaled 10.21 million, which was 16.31% higher than short shares on Sep 28, 2023. In addition to Mr. Saqib Islam J.D. as the firm’s CEO & Director, Mr. Francis I. Perier Jr., M.B.A. serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 110.34% of SWTX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.75% of SWTX, in contrast to 42.44% held by mutual funds. Shares owned by individuals account for 30.82%. As the largest shareholder in SWTX with 15.00% of the stake, Fidelity Management & Research Co holds 9,385,471 shares worth 9,385,471. A second-largest stockholder of SWTX, The Vanguard Group, Inc., holds 4,767,040 shares, controlling over 7.62% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in SWTX, holding 4,006,454 shares or 6.40% stake. With a 4.17% stake in SWTX, the Fidelity Growth Company Fund is the largest stakeholder. A total of 2,611,248 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.53% of SWTX stock, is the second-largest Mutual Fund holder. It holds 1,583,525 shares valued at 36.26 million. SPDR S&P Biotech ETF holds 2.49% of the stake in SWTX, owning 1,556,489 shares worth 35.64 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SWTX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SWTX analysts setting a high price target of $58.00 and a low target of $41.00, the average target price over the next 12 months is $47.20. Based on these targets, SWTX could surge 170.27% to reach the target high and rise by 91.05% to reach the target low. Reaching the average price target will result in a growth of 119.94% from current levels.
Summary of Insider Activity:
Insiders traded SWTX stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 24,000 shares were bought while 1,292 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 23 over the past year. The total number of shares bought during that period was 312,826 while 1,792,815 shares were sold.
