JPMorgan Chase & Co. Has $8.17 Million Stock Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

JPMorgan Chase & Co. lessened its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 9.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 255,052 shares of the company's stock after selling 25,074 shares during the quarter. JPMorgan Chase & Co. owned about 0.34% of SpringWorks Therapeutics worth $8,172,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Profund Advisors LLC boosted its stake in SpringWorks Therapeutics by 1.3% during the 2nd quarter. Profund Advisors LLC now owns 29,048 shares of the company's stock valued at $1,094,000 after purchasing an additional 362 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in SpringWorks Therapeutics by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company's stock valued at $87,000 after acquiring an additional 474 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of SpringWorks Therapeutics by 1.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 46,389 shares of the company's stock worth $1,486,000 after acquiring an additional 871 shares during the period. E Fund Management Co. Ltd. grew its holdings in shares of SpringWorks Therapeutics by 11.6% during the 2nd quarter. E Fund Management Co. Ltd. now owns 9,467 shares of the company's stock worth $357,000 after purchasing an additional 981 shares in the last quarter. Finally, Quarry LP raised its stake in shares of SpringWorks Therapeutics by 20.0% in the third quarter. Quarry LP now owns 6,000 shares of the company's stock valued at $192,000 after purchasing an additional 1,000 shares in the last quarter.

SpringWorks Therapeutics Stock Performance

SWTX traded up $0.98 during mid-day trading on Wednesday, reaching $33.48. The stock had a trading volume of 1,744,930 shares, compared to its average volume of 2,281,197. The firm's fifty day simple moving average is $37.97 and its two-hundred day simple moving average is $36.40. The stock has a market capitalization of $2.49 billion, a P/E ratio of -8.63 and a beta of 0.82. SpringWorks Therapeutics, Inc. has a 52 week low of $28.21 and a 52 week high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $49.10 million during the quarter, compared to analyst estimates of $53.28 million. During the same period last year, the company earned ($1.27) earnings per share. The company's revenue was up 4810.0% on a year-over-year basis. As a group, analysts expect that SpringWorks Therapeutics, Inc. will post -3.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SWTX has been the topic of a number of recent research reports. Evercore ISI began 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. Wedbush restated an "outperform" rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a research note on Monday. 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 report on Tuesday, November 12th. Finally, Guggenheim cut their price target 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. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $70.00.

Insider Buying and Selling

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total value of $839,400.00. Following the transaction, the chief operating officer now owns 209,600 shares of the company's stock, valued at approximately $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.61% of the stock is currently owned by 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.