46,895 Shares in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Purchased by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. acquired a new position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 46,895 shares of the company's stock, valued at approximately $1,694,000. Platinum Investment Management Ltd. owned about 0.06% of SpringWorks Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the stock. AlphaQuest LLC raised its holdings in shares of SpringWorks Therapeutics by 70.2% in the 4th 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. Venturi Wealth Management LLC purchased a new position in shares of SpringWorks Therapeutics during the 4th quarter valued at $45,000. KBC Group NV increased 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 purchasing an additional 978 shares during the period. Quantbot Technologies LP bought a new position in SpringWorks Therapeutics in the 3rd quarter worth about $147,000. Finally, US Bancorp DE raised its stake in 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.

SpringWorks Therapeutics Price Performance

NASDAQ SWTX traded down $1.19 during trading on Friday, hitting $49.89. 2,440,451 shares of the company's stock traded hands, compared to its average volume of 1,268,773. The stock has a fifty day moving average of $46.70 and a two-hundred day moving average of $39.47. SpringWorks Therapeutics, Inc. has a 12-month low of $28.21 and a 12-month high of $62.00. The firm has a market cap of $3.74 billion, a P/E ratio of -14.34 and a beta of 0.76.

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SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last posted its quarterly 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 return on equity of 46.74% and a negative net margin of 134.73%. 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.

Analysts Set New Price Targets

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

Insider Activity at SpringWorks Therapeutics

In related news, insider Bhavesh Ashar sold 1,016 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $61.19, for a total transaction of $62,169.04. Following the transaction, the insider now owns 62,053 shares in the company, valued at $3,797,023.07. The trade was a 1.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Saqib Islam sold 48,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now 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. Insiders sold 440,766 shares of company stock worth $24,402,956 in the last three months. 7.61% of the stock is owned by insiders.

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.