Principal Financial Group Inc. Has $29.43 Million Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Principal Financial Group Inc. increased its holdings in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 102.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 918,445 shares of the company's stock after acquiring an additional 464,903 shares during the period. Principal Financial Group Inc. owned about 1.24% of SpringWorks Therapeutics worth $29,427,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SWTX. Russell Investments Group Ltd. boosted its holdings in SpringWorks Therapeutics by 49.0% in the first quarter. Russell Investments Group Ltd. now owns 170,047 shares of the company's stock valued at $8,370,000 after purchasing an additional 55,893 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in SpringWorks Therapeutics by 48.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company's stock worth $202,318,000 after buying an additional 1,333,892 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of SpringWorks Therapeutics by 8.2% during the first quarter. Vanguard Group Inc. now owns 6,529,325 shares of the company's stock valued at $321,373,000 after acquiring an additional 492,783 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of SpringWorks Therapeutics by 16.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 758,712 shares of the company's stock valued at $28,581,000 after buying an additional 109,865 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new stake in shares of SpringWorks Therapeutics in the second quarter valued at approximately $1,854,000.

Analyst Ratings Changes

A number of research firms recently weighed in on SWTX. HC Wainwright cut their target price on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a "buy" rating on the stock in a research note on Tuesday. Wedbush reiterated an "outperform" rating and set a $77.00 price objective on shares of SpringWorks Therapeutics in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 4th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $68.17.

SpringWorks Therapeutics Price Performance

SWTX traded up $1.66 during midday trading on Wednesday, hitting $34.76. 1,308,352 shares of the company's stock traded hands, compared to its average volume of 974,443. SpringWorks Therapeutics, Inc. has a one year low of $19.61 and a one year high of $53.92. The stock's fifty day simple moving average is $32.95 and its 200-day simple moving average is $37.23.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.76) by $0.04. SpringWorks Therapeutics had a negative return on equity of 47.16% and a negative net margin of 203.09%. The firm had revenue of $49.10 million for the quarter, compared to analyst estimates of $53.28 million. During the same quarter last year, the firm posted ($1.27) EPS. The company's revenue was up 4810.0% on a year-over-year basis. As a group, research analysts expect that SpringWorks Therapeutics, Inc. will post -3.36 EPS for the current fiscal year.

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.