Erste Asset Management GmbH Takes Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Erste Asset Management GmbH acquired a new stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 12,300 shares of the company's stock, valued at approximately $397,000.

Several other large investors also recently made changes to their positions in SWTX. DNB Asset Management AS boosted its holdings in shares of SpringWorks Therapeutics by 16.5% in the 2nd quarter. DNB Asset Management AS now owns 11,402 shares of the company's stock valued at $429,000 after buying an additional 1,617 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in SpringWorks Therapeutics by 47.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company's stock valued at $45,000 after purchasing an additional 383 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in SpringWorks Therapeutics by 28.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 298,961 shares of the company's stock valued at $11,262,000 after purchasing an additional 66,161 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in SpringWorks Therapeutics during the 2nd quarter valued at $123,000. Finally, Principal Financial Group Inc. lifted its holdings in 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 purchasing an additional 436,598 shares during the last quarter.

Analyst Upgrades and Downgrades

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

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ:SWTX traded down $0.56 during midday trading on Thursday, hitting $41.75. 770,711 shares of the stock were exchanged, compared to its average volume of 1,001,558. The business's 50-day moving average price is $33.77 and its 200 day moving average price is $36.69. SpringWorks Therapeutics, Inc. has a 12 month low of $28.21 and a 12 month high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share 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 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%. The business's quarterly revenue was up 4810.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.27) earnings per share. Equities research analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current 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.