NEOS Investment Management LLC Increases Stock Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

NEOS Investment Management LLC raised its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 51.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,811 shares of the company's stock after buying an additional 10,433 shares during the quarter. NEOS Investment Management LLC's holdings in SpringWorks Therapeutics were worth $1,113,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. AlphaQuest LLC raised its stake in SpringWorks Therapeutics by 70.2% during the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company's stock worth $36,000 after purchasing an additional 414 shares during the period. KBC Group NV increased its stake in SpringWorks Therapeutics by 59.1% during 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 last quarter. Quarry LP raised its position in 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 during the period. Arizona State Retirement System raised its holdings in SpringWorks Therapeutics by 7.5% in the 4th quarter. Arizona State Retirement System now owns 17,206 shares of the company's stock valued at $622,000 after buying an additional 1,206 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in SpringWorks Therapeutics during the fourth quarter worth about $45,000.

Insider Buying and Selling

In related news, CEO Saqib Islam sold 49,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $54.24, for a total transaction of $2,657,760.00. Following the transaction, the chief executive officer now owns 954,869 shares of the company's stock, valued at $51,792,094.56. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Badreddin Edris sold 20,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $54.23, for a total value of $1,084,600.00. Following the sale, the chief operating officer now directly owns 169,712 shares of the company's stock, valued at approximately $9,203,481.76. This represents a 10.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 440,766 shares of company stock worth $24,402,956 in the last quarter. 7.61% of the stock is owned by insiders.

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SpringWorks Therapeutics Stock Down 5.7 %

SpringWorks Therapeutics stock traded down $2.66 during midday trading on Thursday, reaching $43.86. The company's stock had a trading volume of 408,749 shares, compared to its average volume of 1,319,700. The company has a market cap of $3.29 billion, a P/E ratio of -12.60 and a beta of 0.76. SpringWorks Therapeutics, Inc. has a fifty-two week low of $28.21 and a fifty-two week high of $62.00. The business has a 50-day simple moving average of $48.51 and a 200-day simple moving average of $39.89.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $60.53 million. As a group, equities analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wedbush reiterated an "outperform" rating and issued a $81.00 target price on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. HC Wainwright reissued a "buy" rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a research report on Friday, February 21st. Guggenheim decreased their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Finally, Evercore ISI upped their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $73.20.

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.