Massachusetts Financial Services Co. MA Sells 50,547 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Massachusetts Financial Services Co. MA lessened its position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 7.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 592,645 shares of the company's stock after selling 50,547 shares during the period. Massachusetts Financial Services Co. MA owned 0.80% of SpringWorks Therapeutics worth $21,412,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AlphaQuest LLC grew its stake in SpringWorks Therapeutics by 70.2% in the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company's stock valued at $36,000 after buying an additional 414 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of SpringWorks Therapeutics during the fourth quarter worth $45,000. KBC Group NV boosted its holdings in shares of SpringWorks Therapeutics by 59.1% in the fourth quarter. KBC Group NV now owns 2,634 shares of the company's stock worth $95,000 after acquiring an additional 978 shares during the period. US Bancorp DE grew its position in shares of SpringWorks Therapeutics by 56.0% in the fourth quarter. US Bancorp DE now owns 4,336 shares of the company's stock valued at $157,000 after purchasing an additional 1,556 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of SpringWorks Therapeutics during the 4th quarter valued at $171,000.

Insider Transactions at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, Director Daniel Lynch sold 175,000 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.46, for a total transaction of $9,530,500.00. Following the sale, the director now owns 130,944 shares in the company, valued at $7,131,210.24. This trade represents a 57.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Saqib Islam sold 48,000 shares of SpringWorks Therapeutics stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $53.30, for a total value of $2,558,400.00. Following the sale, the chief executive officer now directly owns 1,002,502 shares of the company's stock, valued at approximately $53,433,356.60. This trade represents a 4.57 % decrease in their position. 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. Insiders own 7.61% of the company's stock.

Remove Ads

SpringWorks Therapeutics Trading Up 5.9 %

Shares of SWTX traded up $2.04 during trading hours on Friday, reaching $36.47. 2,042,004 shares of the company's stock traded hands, compared to its average volume of 1,376,325. SpringWorks Therapeutics, Inc. has a 12 month low of $28.21 and a 12 month high of $62.00. The stock has a market cap of $2.73 billion, a PE ratio of -10.48 and a beta of 0.79. The firm's 50 day simple moving average is $48.63 and its 200-day simple moving average is $40.04.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The company had revenue of $61.55 million for the quarter, compared to the consensus estimate of $60.53 million. As a group, analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.