KLP Kapitalforvaltning AS Invests $455,000 in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

KLP Kapitalforvaltning AS purchased a new stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 12,600 shares of the company's stock, valued at approximately $455,000.

A number of other hedge funds also recently bought and sold shares of SWTX. Geode Capital Management LLC grew its holdings in SpringWorks Therapeutics by 7.0% during the third quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company's stock valued at $53,526,000 after purchasing an additional 109,189 shares during the period. Principal Financial Group Inc. lifted its position in shares of SpringWorks Therapeutics by 20.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company's stock worth $39,882,000 after buying an additional 185,413 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in SpringWorks Therapeutics by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 605,248 shares of the company's stock worth $21,868,000 after purchasing an additional 3,021 shares during the last quarter. Soros Fund Management LLC raised its position in shares of SpringWorks Therapeutics by 45.3% during the 3rd quarter. Soros Fund Management LLC now owns 559,321 shares of the company's stock valued at $17,921,000 after buying an additional 174,321 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in SpringWorks Therapeutics during the fourth quarter worth $10,527,000.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. HC Wainwright reaffirmed a "buy" rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a research report on Friday, February 21st. Wedbush reissued an "outperform" rating and issued a $81.00 price objective on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Guggenheim dropped their target price on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Finally, Evercore ISI raised their price objective on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $73.20.

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SpringWorks Therapeutics Trading Up 3.9 %

Shares of NASDAQ:SWTX traded up $1.41 on Wednesday, reaching $37.12. The company had a trading volume of 3,477,499 shares, compared to its average volume of 1,364,293. The firm has a market capitalization of $2.78 billion, a PE ratio of -10.67 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. The firm's 50 day simple moving average is $48.70 and its 200-day simple moving average is $40.00.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last issued 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 firm had revenue of $61.55 million during the quarter, compared to analysts' expectations 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, equities research analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Saqib Islam sold 49,000 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $54.24, for a total transaction of $2,657,760.00. Following the completion of the sale, the chief executive officer now owns 954,869 shares of the company's stock, valued at $51,792,094.56. This represents a 4.88 % 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. Also, COO Badreddin Edris sold 20,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $54.23, for a total transaction of $1,084,600.00. Following the completion of the sale, the chief operating officer now owns 169,712 shares of the company's stock, valued at $9,203,481.76. This trade represents a 10.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 440,766 shares of company stock valued at $24,402,956. 7.61% of the stock is owned by insiders.

SpringWorks Therapeutics Company 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.