Cibc World Markets Corp Acquires New Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Cibc World Markets Corp acquired a new stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,433 shares of the company's stock, valued at approximately $232,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SWTX. FMR LLC lifted its position in shares of SpringWorks Therapeutics by 0.3% in the third quarter. FMR LLC now owns 11,140,946 shares of the company's stock valued at $356,956,000 after acquiring an additional 28,555 shares in the last quarter. Maverick Capital Ltd. raised its stake in 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 purchasing an additional 177,824 shares during the period. Geode Capital Management LLC lifted its holdings in SpringWorks Therapeutics by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company's stock worth $53,526,000 after purchasing an additional 109,189 shares in the last quarter. Principal Financial Group Inc. boosted its stake in SpringWorks Therapeutics by 20.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company's stock worth $39,882,000 after purchasing an additional 185,413 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in SpringWorks Therapeutics by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 605,248 shares of the company's stock valued at $21,868,000 after buying an additional 3,021 shares in the last quarter.

Remove Ads

Analyst Ratings Changes

A number of brokerages recently weighed in on SWTX. HC Wainwright restated a "buy" rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a research report on Friday, February 21st. Wedbush reissued an "outperform" rating and set a $81.00 price objective on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. Guggenheim cut their target price on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Finally, Evercore ISI upped their price target on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, SpringWorks Therapeutics has a consensus rating of "Buy" and a consensus price target of $73.20.

SpringWorks Therapeutics Stock Performance

NASDAQ SWTX traded down $0.08 during trading on Friday, hitting $47.41. The stock had a trading volume of 1,332,631 shares, compared to its average volume of 1,297,676. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of -13.62 and a beta of 0.76. The stock has a 50 day simple moving average of $47.98 and a 200 day simple moving average of $39.75. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $62.00.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.38). The business had revenue of $61.55 million for the quarter, compared to analysts' expectations of $60.53 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. On average, sell-side analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current year.

Insider Activity

In related news, insider Daniel Pichl sold 29,750 shares of SpringWorks Therapeutics stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $54.36, for a total transaction of $1,617,210.00. Following the completion of the sale, the insider now owns 50,762 shares in the company, valued at $2,759,422.32. This trade represents a 36.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Saqib Islam sold 48,000 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $53.30, for a total transaction of $2,558,400.00. Following the completion of the transaction, the chief executive officer now owns 1,002,502 shares in the company, valued at $53,433,356.60. This represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 440,766 shares of company stock valued at $24,402,956. 7.61% of the stock is currently owned by company insiders.

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.