Los Angeles Capital Management LLC Boosts Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Los Angeles Capital Management LLC lifted its position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 238.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,212 shares of the company's stock after buying an additional 33,255 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.06% of SpringWorks Therapeutics worth $1,513,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SWTX. Price T Rowe Associates Inc. MD increased its holdings in shares of SpringWorks Therapeutics by 48.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company's stock worth $202,318,000 after buying an additional 1,333,892 shares during the last quarter. Duquesne Family Office LLC bought a new position in SpringWorks Therapeutics during the 2nd quarter valued at about $38,475,000. Maverick Capital Ltd. grew its holdings in SpringWorks Therapeutics by 36.3% during the 2nd quarter. Maverick Capital Ltd. now owns 2,600,524 shares of the company's stock valued at $97,962,000 after purchasing an additional 691,894 shares during the last quarter. Vanguard Group Inc. grew its holdings in SpringWorks Therapeutics by 8.2% during the 1st quarter. Vanguard Group Inc. now owns 6,529,325 shares of the company's stock valued at $321,373,000 after purchasing an additional 492,783 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in SpringWorks Therapeutics by 102.5% during the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company's stock valued at $29,427,000 after purchasing an additional 464,903 shares during the last quarter.

SpringWorks Therapeutics Stock Performance

SpringWorks Therapeutics stock traded up $1.84 during trading hours on Thursday, hitting $36.55. The company had a trading volume of 2,086,485 shares, compared to its average volume of 983,447. The company has a 50-day moving average price of $32.82 and a two-hundred day moving average price of $37.21. SpringWorks Therapeutics, Inc. has a 1 year low of $19.61 and a 1 year high of $53.92. The firm has a market cap of $2.71 billion, a P/E ratio of -8.95 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.04. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 47.16%. The firm had revenue of $49.10 million during the quarter, compared to analysts' expectations of $53.28 million. During the same quarter in the prior year, the company earned ($1.27) EPS. The company's revenue was up 4810.0% compared to the same quarter last year. As a group, equities research analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.36 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on SWTX shares. HC Wainwright cut their price target on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a "buy" rating on the stock in a report on Tuesday. JPMorgan Chase & Co. upped their price target on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an "overweight" rating in a report on Wednesday, September 4th. Finally, Wedbush reiterated an "outperform" rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a report on Thursday, November 7th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, SpringWorks Therapeutics currently has an average rating of "Buy" and a consensus price target of $68.17.

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.