Price T Rowe Associates Inc. MD Trims Stock Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Price T Rowe Associates Inc. MD reduced its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 6.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,274,786 shares of the company's stock after selling 241,632 shares during the quarter. Price T Rowe Associates Inc. MD owned 4.40% of SpringWorks Therapeutics worth $118,319,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Barclays PLC increased its stake in shares of SpringWorks Therapeutics by 60.4% during the third quarter. Barclays PLC now owns 155,676 shares of the company's stock worth $4,987,000 after acquiring an additional 58,645 shares during the period. Exome Asset Management LLC acquired a new position in SpringWorks Therapeutics during the 3rd quarter worth approximately $3,226,000. Principal Financial Group Inc. raised its stake in shares of SpringWorks Therapeutics by 102.5% during the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company's stock worth $29,427,000 after buying an additional 464,903 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in shares of SpringWorks Therapeutics in the 4th quarter valued at approximately $203,000. Finally, AMI Asset Management Corp purchased a new stake in shares of SpringWorks Therapeutics in the fourth quarter valued at approximately $1,438,000.

Wall Street Analyst Weigh In

SWTX has been the subject of several research analyst reports. Guggenheim cut their price objective on SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Wedbush reiterated an "outperform" rating and issued a $81.00 price target on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. HC Wainwright reissued a "buy" rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Finally, Evercore ISI increased their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $73.20.

SpringWorks Therapeutics Stock Down 0.5 %

Shares of SWTX stock opened at $44.72 on Monday. The stock has a market cap of $3.35 billion, a P/E ratio of -12.85 and a beta of 0.79. 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 fifty day simple moving average of $46.20 and a 200-day simple moving average of $40.64.

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 analysts' consensus estimates 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 business had revenue of $61.55 million for the quarter, compared to analyst estimates of $60.53 million. On average, sell-side analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Insider Buying and Selling

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 30,000 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $53.13, for a total transaction of $1,593,900.00. Following the sale, the chief operating officer now directly owns 189,712 shares of the company's stock, valued at $10,079,398.56. This trade represents a 13.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Saqib Islam sold 48,000 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $53.30, for a total transaction of $2,558,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,002,502 shares of the company's stock, valued at approximately $53,433,356.60. This 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 ninety days. Insiders own 7.83% 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.

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