Barclays PLC Purchases 58,645 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

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

Several other institutional investors have also made changes to their positions in SWTX. Bank of New York Mellon Corp grew its holdings in shares of SpringWorks Therapeutics by 28.4% during the second quarter. Bank of New York Mellon Corp now owns 298,961 shares of the company's stock valued at $11,262,000 after buying an additional 66,161 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in SpringWorks Therapeutics in the 2nd quarter worth approximately $123,000. Principal Financial Group Inc. grew its holdings in shares of SpringWorks Therapeutics by 2,576.7% during the 2nd quarter. Principal Financial Group Inc. now owns 453,542 shares of the company's stock valued at $17,085,000 after acquiring an additional 436,598 shares in the last quarter. Peregrine Capital Management LLC increased its stake in shares of SpringWorks Therapeutics by 17.1% in the second quarter. Peregrine Capital Management LLC now owns 136,563 shares of the company's stock worth $5,144,000 after acquiring an additional 19,915 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of SpringWorks Therapeutics by 5.1% during the second quarter. Rhumbline Advisers now owns 104,656 shares of the company's stock worth $3,942,000 after acquiring an additional 5,081 shares in the last quarter.

Insider Buying and Selling at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total transaction of $839,400.00. Following the sale, the chief operating officer now directly owns 209,600 shares of the company's stock, valued at approximately $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.61% of the company's stock.

SpringWorks Therapeutics Trading Up 2.3 %

SWTX traded up $0.81 during midday trading on Friday, reaching $35.59. The company's stock had a trading volume of 1,260,985 shares, compared to its average volume of 1,008,921. The company has a fifty day simple moving average of $35.43 and a 200 day simple moving average of $36.45. The stock has a market cap of $2.65 billion, a P/E ratio of -9.17 and a beta of 0.86. SpringWorks Therapeutics, Inc. has a twelve month low of $28.21 and a twelve month high of $53.92.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SWTX. Wedbush reaffirmed an "outperform" rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a research report on Monday, November 18th. Evercore ISI initiated coverage on shares of SpringWorks Therapeutics in a research note on Wednesday, November 20th. They issued an "outperform" rating and a $60.00 price objective for the company. HC Wainwright lowered their target price on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a "buy" rating on the stock in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. boosted their price target on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 4th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, SpringWorks Therapeutics currently has an average rating of "Buy" and a consensus price target of $69.50.

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.