Ally Bridge Group NY LLC Invests $7.30 Million in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Ally Bridge Group NY LLC purchased a new stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 227,700 shares of the company's stock, valued at approximately $7,296,000. SpringWorks Therapeutics comprises approximately 3.9% of Ally Bridge Group NY LLC's holdings, making the stock its 11th biggest position. Ally Bridge Group NY LLC owned approximately 0.31% of SpringWorks Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SWTX. Duquesne Family Office LLC bought a new stake in SpringWorks Therapeutics in the second quarter worth $38,475,000. Maverick Capital Ltd. raised its holdings in shares of SpringWorks Therapeutics by 36.3% in the 2nd quarter. Maverick Capital Ltd. now owns 2,600,524 shares of the company's stock worth $97,962,000 after buying an additional 691,894 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in SpringWorks Therapeutics by 102.5% during the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company's stock valued at $29,427,000 after purchasing an additional 464,903 shares during the last quarter. Jane Street Group LLC raised its position in SpringWorks Therapeutics by 254.2% in the 1st quarter. Jane Street Group LLC now owns 580,938 shares of the company's stock valued at $28,594,000 after purchasing an additional 416,942 shares during the last quarter. Finally, Fiera Capital Corp boosted its stake in SpringWorks Therapeutics by 41.4% in the second quarter. Fiera Capital Corp now owns 1,297,302 shares of the company's stock worth $48,869,000 after purchasing an additional 380,027 shares in the last quarter.

SpringWorks Therapeutics Trading Up 1.2 %

Shares of NASDAQ:SWTX traded up $0.51 on Thursday, hitting $41.73. The company had a trading volume of 682,247 shares, compared to its average volume of 1,003,393. SpringWorks Therapeutics, Inc. has a 1-year low of $23.00 and a 1-year high of $53.92. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of -10.76 and a beta of 0.79. The stock has a 50 day moving average price of $32.92 and a 200 day moving average price of $36.75.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.03. The business had revenue of $49.10 million during the quarter, compared to analysts' expectations of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The firm's revenue for the quarter was up 4810.0% compared to the same quarter last year. During the same period last year, the firm posted ($1.27) EPS. Sell-side analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on SWTX shares. HC Wainwright dropped their target price on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. JPMorgan Chase & Co. upped their price objective on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 4th. Evercore ISI assumed coverage on SpringWorks Therapeutics in a research report on Wednesday, November 20th. They issued an "outperform" rating and a $60.00 target price on the stock. Finally, Wedbush reiterated an "outperform" rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a report on Monday, November 18th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, SpringWorks Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $67.00.

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.