Massachusetts Financial Services Co. MA Boosts Stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Massachusetts Financial Services Co. MA lifted its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 20.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 643,192 shares of the company's stock after acquiring an additional 108,109 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.87% of SpringWorks Therapeutics worth $20,608,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. First Horizon Advisors Inc. increased its holdings in SpringWorks Therapeutics by 47.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company's stock worth $45,000 after purchasing an additional 383 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in SpringWorks Therapeutics by 21.4% in the third 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. Allspring Global Investments Holdings LLC acquired a new stake in SpringWorks Therapeutics in the second quarter valued at approximately $123,000. Quarry LP lifted its stake in SpringWorks Therapeutics by 56.3% in the second quarter. Quarry LP now owns 5,000 shares of the company's stock worth $188,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Commerce Bank acquired a new position in SpringWorks Therapeutics during the 3rd quarter worth approximately $207,000.

Analyst Ratings Changes

SWTX has been the subject of a number of analyst reports. Wedbush reiterated an "outperform" rating and set a $77.00 target price on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. Evercore ISI initiated coverage on SpringWorks Therapeutics in a research report on Wednesday, November 20th. They set an "outperform" rating and a $60.00 target price on the stock. HC Wainwright lowered their price target on SpringWorks Therapeutics from $76.00 to $74.00 and set a "buy" rating for the company in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. increased their price target 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. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $67.00.

SpringWorks Therapeutics Stock Up 4.6 %

SWTX traded up $1.83 during trading on Tuesday, hitting $41.22. 1,015,671 shares of the stock were exchanged, compared to its average volume of 1,004,795. SpringWorks Therapeutics, Inc. has a 1-year low of $20.19 and a 1-year high of $53.92. The stock has a fifty day moving average price of $32.80 and a two-hundred day moving average price of $36.72. The firm has a market capitalization of $3.07 billion, a P/E ratio of -10.62 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.03. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The firm had revenue of $49.10 million during the quarter, compared to the consensus estimate of $53.28 million. During the same quarter in the prior year, the firm earned ($1.27) EPS. SpringWorks Therapeutics's revenue for the quarter was up 4810.0% on a year-over-year basis. Analysts predict that SpringWorks Therapeutics, Inc. will post -3.12 EPS for the current year.

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.