BIT Capital GmbH Increases Stock Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

BIT Capital GmbH increased its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 18.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,539 shares of the company's stock after buying an additional 8,429 shares during the period. BIT Capital GmbH owned about 0.07% of SpringWorks Therapeutics worth $1,934,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Commerce Bank acquired a new position in shares of SpringWorks Therapeutics in the 3rd quarter valued at about $207,000. Intech Investment Management LLC bought a new stake in SpringWorks Therapeutics in the third quarter valued at $676,000. Charles Schwab Investment Management Inc. boosted its position in shares of SpringWorks Therapeutics by 13.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 602,227 shares of the company's stock worth $19,295,000 after buying an additional 73,613 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in SpringWorks Therapeutics in the 3rd quarter worth approximately $439,000. Finally, The Manufacturers Life Insurance Company raised its stake in SpringWorks Therapeutics by 131.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 285,555 shares of the company's stock valued at $9,149,000 after acquiring an additional 162,137 shares in the last quarter.

SpringWorks Therapeutics Stock Performance

SWTX traded down $3.37 during trading hours on Monday, reaching $44.04. The company's stock had a trading volume of 883,282 shares, compared to its average volume of 2,446,449. The firm has a market cap of $3.30 billion, a PE ratio of -12.62 and a beta of 0.76. The company's 50-day moving average is $47.98 and its 200-day moving average is $39.75. SpringWorks Therapeutics, Inc. has a 52 week low of $28.21 and a 52 week high of $62.00.

Remove Ads

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last posted 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). SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. The firm had revenue of $61.55 million for the quarter, compared to the consensus estimate of $60.53 million. Equities analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SWTX shares. Guggenheim dropped their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Wedbush restated an "outperform" rating and issued a $81.00 target price on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. HC Wainwright restated a "buy" rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Finally, 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 report on Wednesday, February 12th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, SpringWorks Therapeutics has an average rating of "Buy" and a consensus target price of $73.20.

Insider Buying and Selling at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, CEO Saqib Islam sold 48,000 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $53.30, for a total value of $2,558,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,002,502 shares of the company's stock, valued at $53,433,356.60. This trade represents a 4.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel Lynch sold 175,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.46, for a total value of $9,530,500.00. Following the transaction, the director now owns 130,944 shares of the company's stock, valued at $7,131,210.24. The trade was a 57.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 440,766 shares of company stock valued at $24,402,956. 7.61% of the stock is currently owned by company insiders.

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.