Geode Capital Management LLC Has $53.53 Million Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Geode Capital Management LLC raised its position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 7.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,670,247 shares of the company's stock after purchasing an additional 109,189 shares during the quarter. Geode Capital Management LLC owned 2.25% of SpringWorks Therapeutics worth $53,526,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of 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 worth $356,956,000 after purchasing an additional 28,555 shares in the last quarter. Maverick Capital Ltd. lifted its position in SpringWorks Therapeutics by 6.8% in the 3rd quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company's stock worth $89,018,000 after buying an additional 177,824 shares in the last quarter. Fiera Capital Corp boosted its stake in shares of SpringWorks Therapeutics by 41.4% during the 2nd quarter. Fiera Capital Corp now owns 1,297,302 shares of the company's stock valued at $48,869,000 after buying an additional 380,027 shares during the period. Duquesne Family Office LLC purchased a new position in shares of SpringWorks Therapeutics during the 2nd quarter valued at $38,475,000. Finally, Principal Financial Group Inc. raised its holdings in shares of SpringWorks Therapeutics by 102.5% during the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company's stock worth $29,427,000 after acquiring an additional 464,903 shares in the last quarter.

SpringWorks Therapeutics Price Performance

Shares of NASDAQ SWTX traded up $1.78 during trading hours on Monday, hitting $37.37. 687,636 shares of the stock were exchanged, compared to its average volume of 1,007,620. The firm has a market capitalization of $2.78 billion, a P/E ratio of -9.63 and a beta of 0.86. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $53.92. The company's 50 day moving average is $35.43 and its 200 day moving average is $36.40.

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

Insiders Place Their Bets

In related news, COO Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock in a transaction dated Tuesday, December 3rd. The stock was 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 $8,796,912. This trade represents a 8.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 7.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wedbush reiterated an "outperform" rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a report on Monday, November 18th. Evercore ISI started coverage on shares of SpringWorks Therapeutics in a research note on Wednesday, November 20th. They set an "outperform" rating and a $60.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an "overweight" rating in a research note on Wednesday, September 4th. Finally, 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price 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.