Fmr LLC Raises Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

FMR LLC boosted its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 0.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,157,960 shares of the company's stock after buying an additional 17,014 shares during the period. FMR LLC owned approximately 15.00% of SpringWorks Therapeutics worth $403,137,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Verition Fund Management LLC boosted its position in shares of SpringWorks Therapeutics by 101.8% during the third quarter. Verition Fund Management LLC now owns 17,500 shares of the company's stock worth $561,000 after buying an additional 8,826 shares during the period. Wellington Management Group LLP raised its holdings in shares of SpringWorks Therapeutics by 5.6% in the third quarter. Wellington Management Group LLP now owns 34,994 shares of the company's stock valued at $1,121,000 after purchasing an additional 1,853 shares during the last quarter. Barclays PLC lifted its position in shares of SpringWorks Therapeutics by 60.4% in the third quarter. Barclays PLC now owns 155,676 shares of the company's stock worth $4,987,000 after purchasing an additional 58,645 shares in the last quarter. Geode Capital Management LLC increased its stake 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 valued at $53,526,000 after buying an additional 109,189 shares during the last quarter. Finally, Exome Asset Management LLC acquired a new position in shares of SpringWorks Therapeutics during the 3rd quarter worth about $3,226,000.

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SpringWorks Therapeutics Trading Up 0.0 %

NASDAQ SWTX traded up $0.01 on Tuesday, hitting $37.47. 459,770 shares of the company's stock were exchanged, compared to its average volume of 1,375,205. The stock has a 50-day moving average of $48.56 and a 200-day moving average of $40.13. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -10.79 and a beta of 0.79. SpringWorks Therapeutics, Inc. has a 52 week low of $28.21 and a 52 week high of $62.00.

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

Insider Activity

In related news, CEO Saqib Islam sold 49,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $54.24, for a total value of $2,657,760.00. Following the completion of the sale, the chief executive officer now directly owns 954,869 shares of the company's stock, valued at $51,792,094.56. The trade was a 4.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel Lynch sold 175,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 130,944 shares in the company, valued at approximately $7,131,210.24. The trade was a 57.20 % decrease in their position. The disclosure for this sale can be found here. In 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 insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Evercore ISI upped their target price on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Wedbush reiterated an "outperform" rating and issued a $81.00 price target on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. Guggenheim reduced their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Finally, HC Wainwright reiterated a "buy" rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, SpringWorks Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $73.20.

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.