Bank of New York Mellon Corp Sells 30,986 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Bank of New York Mellon Corp trimmed its holdings in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 13.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,942 shares of the company's stock after selling 30,986 shares during the quarter. Bank of New York Mellon Corp owned 0.26% of SpringWorks Therapeutics worth $7,079,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of SpringWorks Therapeutics by 0.3% during the third quarter. FMR LLC now owns 11,140,946 shares of the company's stock worth $356,956,000 after purchasing an additional 28,555 shares during the period. Maverick Capital Ltd. lifted its holdings in SpringWorks Therapeutics by 6.8% during the 3rd quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company's stock worth $89,018,000 after buying an additional 177,824 shares during the period. Geode Capital Management LLC lifted its holdings in SpringWorks Therapeutics by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company's stock worth $53,526,000 after buying an additional 109,189 shares during the period. Principal Financial Group Inc. grew its position in shares of SpringWorks Therapeutics by 20.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company's stock valued at $39,882,000 after buying an additional 185,413 shares during the last quarter. Finally, Finepoint Capital LP increased its stake in shares of SpringWorks Therapeutics by 2.0% in the third quarter. Finepoint Capital LP now owns 650,852 shares of the company's stock valued at $20,853,000 after buying an additional 12,500 shares during the period.

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Insider Buying and Selling

In related news, insider Daniel Pichl sold 29,750 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $54.36, for a total value of $1,617,210.00. Following the sale, the insider now owns 50,762 shares in the company, valued at $2,759,422.32. This represents a 36.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Badreddin Edris sold 20,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $54.23, for a total transaction of $1,084,600.00. Following the completion of the transaction, the chief operating officer now directly owns 169,712 shares in the company, valued at approximately $9,203,481.76. The trade was a 10.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 440,766 shares of company stock valued at $24,402,956. 7.61% of the stock is owned by company insiders.

SpringWorks Therapeutics Price Performance

Shares of NASDAQ:SWTX traded up $1.69 during mid-day trading on Wednesday, hitting $50.73. The company had a trading volume of 544,476 shares, compared to its average volume of 1,258,088. The company has a market capitalization of $3.80 billion, a PE ratio of -14.58 and a beta of 0.76. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $62.00. The firm has a fifty day moving average price of $46.15 and a 200 day moving average price of $39.26.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.38). The company had revenue of $61.55 million for the quarter, compared to analyst estimates of $60.53 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. Research analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on SWTX. Guggenheim reduced their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. HC Wainwright reaffirmed a "buy" rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Evercore ISI lifted their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Finally, Wedbush reaffirmed an "outperform" rating and set a $81.00 price target on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $73.20.

About SpringWorks Therapeutics

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.