Barclays PLC Raises Stock Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Barclays PLC grew its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 60.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 155,676 shares of the company's stock after buying an additional 58,645 shares during the period. Barclays PLC owned 0.21% of SpringWorks Therapeutics worth $4,987,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC boosted its stake in SpringWorks Therapeutics by 0.3% during the third quarter. FMR LLC now owns 11,140,946 shares of the company's stock valued at $356,956,000 after buying an additional 28,555 shares during the period. Maverick Capital Ltd. boosted its position in shares of SpringWorks Therapeutics by 6.8% during the 3rd quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company's stock valued at $89,018,000 after acquiring an additional 177,824 shares during the last quarter. Fiera Capital Corp grew its holdings in shares of SpringWorks Therapeutics by 41.4% during 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. Duquesne Family Office LLC bought a new position in shares of SpringWorks Therapeutics in the second quarter worth approximately $38,475,000. Finally, Principal Financial Group Inc. raised its stake in SpringWorks Therapeutics by 102.5% in the third 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 in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Evercore ISI assumed coverage on shares of SpringWorks Therapeutics in a research note on Wednesday, November 20th. They issued an "outperform" rating and a $60.00 price target for the company. Wedbush reissued an "outperform" rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. JPMorgan Chase & Co. lifted their price target on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 4th. Finally, HC Wainwright decreased their price objective on SpringWorks Therapeutics from $76.00 to $74.00 and set a "buy" rating on the stock in a report on Tuesday, November 12th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $69.50.

Insider Activity at SpringWorks Therapeutics

In related news, COO Badreddin Edris sold 20,000 shares of the business's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total transaction of $839,400.00. Following the transaction, the chief operating officer now owns 209,600 shares in the company, valued at $8,796,912. The trade was a 8.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.61% of the stock is currently owned by company insiders.

SpringWorks Therapeutics Stock Up 2.3 %

Shares of SWTX traded up $0.81 during trading hours on Friday, hitting $35.59. The company had a trading volume of 1,260,985 shares, compared to its average volume of 1,008,921. SpringWorks Therapeutics, Inc. has a 52-week low of $28.21 and a 52-week high of $53.92. The stock's 50 day moving average price is $35.43 and its 200 day moving average price is $36.43. The firm has a market cap of $2.65 billion, a P/E ratio of -9.17 and a beta of 0.86.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, topping analysts' consensus estimates of ($0.75) by $0.03. The business had revenue of $49.10 million for 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%. During the same period in the previous year, the firm earned ($1.27) EPS. The business's quarterly revenue was up 4810.0% on a year-over-year basis. On average, research analysts expect that SpringWorks Therapeutics, Inc. will post -3.12 EPS for the current fiscal year.

SpringWorks Therapeutics 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.