Pictet Asset Management Holding SA Has $86.40 Million Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Pictet Asset Management Holding SA increased its position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 24.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,391,412 shares of the company's stock after buying an additional 465,494 shares during the period. Pictet Asset Management Holding SA owned about 3.21% of SpringWorks Therapeutics worth $86,402,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SWTX. AlphaQuest LLC grew its position in shares of 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 buying an additional 414 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of SpringWorks Therapeutics in the 4th quarter worth about $45,000. KBC Group NV raised its stake in shares of SpringWorks Therapeutics by 59.1% in the 4th quarter. KBC Group NV now owns 2,634 shares of the company's stock valued at $95,000 after purchasing an additional 978 shares in the last quarter. US Bancorp DE lifted its position in shares of SpringWorks Therapeutics by 56.0% during the fourth quarter. US Bancorp DE now owns 4,336 shares of the company's stock worth $157,000 after purchasing an additional 1,556 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in SpringWorks Therapeutics in the third quarter worth about $147,000.

SpringWorks Therapeutics Stock Performance

Shares of SWTX stock traded down $2.99 on Thursday, reaching $43.53. 567,286 shares of the company's stock traded hands, compared to its average volume of 1,319,849. The business's 50 day moving average price is $48.51 and its two-hundred day moving average price is $39.89. The company has a market capitalization of $3.26 billion, a P/E ratio of -12.51 and a beta of 0.76. SpringWorks Therapeutics, Inc. has a 12-month low of $28.21 and a 12-month high of $62.00.

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SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $61.55 million during the quarter, compared to analyst estimates of $60.53 million. Research analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at SpringWorks Therapeutics

In related news, insider Daniel Pichl sold 29,750 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.36, for a total transaction of $1,617,210.00. Following the completion of the sale, the insider now directly owns 50,762 shares in the company, valued at approximately $2,759,422.32. This trade represents a 36.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Saqib Islam sold 48,000 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $53.30, for a total value of $2,558,400.00. Following the completion of the transaction, the chief executive officer now owns 1,002,502 shares in the company, valued at $53,433,356.60. This trade represents a 4.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 440,766 shares of company stock valued at $24,402,956 in the last quarter. Company insiders own 7.61% of the company's stock.

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.