Principal Financial Group Inc. boosted its holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 102.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 918,445 shares of the company's stock after purchasing an additional 464,903 shares during the period. Principal Financial Group Inc. owned about 1.23% of SpringWorks Therapeutics worth $29,427,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in SpringWorks Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company's stock worth $87,000 after buying an additional 474 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in SpringWorks Therapeutics during the second quarter worth $123,000. Quantbot Technologies LP acquired a new position in SpringWorks Therapeutics in the third quarter worth $147,000. Quarry LP increased its stake in SpringWorks Therapeutics by 56.3% during the second quarter. Quarry LP now owns 5,000 shares of the company's stock valued at $188,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Commerce Bank bought a new stake in SpringWorks Therapeutics during the third quarter valued at $207,000.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on SWTX. HC Wainwright lowered their price objective on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. Wedbush reissued an "outperform" rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a report on Monday, November 18th. JPMorgan Chase & Co. increased their target price on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 4th. Finally, Evercore ISI assumed coverage on shares of SpringWorks Therapeutics in a research report on Wednesday, November 20th. They set an "outperform" rating and a $60.00 price target for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, SpringWorks Therapeutics has a consensus rating of "Buy" and an average price target of $69.50.
Check Out Our Latest Report on SpringWorks Therapeutics
SpringWorks Therapeutics Trading Down 1.5 %
SWTX traded down $0.56 on Wednesday, reaching $36.81. The company had a trading volume of 286,225 shares, compared to its average volume of 1,004,711. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $53.92. The company has a market capitalization of $2.74 billion, a P/E ratio of -9.49 and a beta of 0.86. The company has a fifty day moving average of $35.69 and a 200-day moving average of $36.36.
SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.03. The firm had revenue of $49.10 million for the quarter, compared to analysts' expectations of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The firm's quarterly revenue was up 4810.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.27) earnings per share. Research analysts predict that SpringWorks Therapeutics, Inc. will post -3.12 EPS for the current year.
Insider Activity
In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the company's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total value of $839,400.00. Following the transaction, the chief operating officer now owns 209,600 shares of the company's stock, valued at approximately $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.61% of the company's stock.
About SpringWorks Therapeutics
(
Free Report)
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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