Raymond James Financial Inc. Invests $10.53 Million in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Raymond James Financial Inc. purchased a new position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 291,356 shares of the company's stock, valued at approximately $10,527,000. Raymond James Financial Inc. owned about 0.39% of SpringWorks Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Venturi Wealth Management LLC purchased a new stake in SpringWorks Therapeutics in the fourth quarter worth $45,000. KBC Group NV increased its stake in SpringWorks Therapeutics by 59.1% in the 4th quarter. KBC Group NV now owns 2,634 shares of the company's stock worth $95,000 after buying an additional 978 shares during the period. Quantbot Technologies LP bought a new stake in SpringWorks Therapeutics during the 3rd quarter valued at about $147,000. US Bancorp DE boosted its position in SpringWorks Therapeutics by 56.0% in the 4th quarter. US Bancorp DE now owns 4,336 shares of the company's stock valued at $157,000 after buying an additional 1,556 shares during the period. Finally, Quarry LP grew its stake in SpringWorks Therapeutics by 20.0% in the 3rd quarter. Quarry LP now owns 6,000 shares of the company's stock worth $192,000 after acquiring an additional 1,000 shares in the last quarter.

Insider Buying and Selling at SpringWorks Therapeutics

In other news, CEO Saqib Islam sold 48,000 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $53.30, for a total transaction of $2,558,400.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel Pichl sold 29,750 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.36, for a total value of $1,617,210.00. Following the completion of the sale, the insider now directly owns 50,762 shares of the company's stock, valued at $2,759,422.32. The trade was a 36.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 440,766 shares of company stock valued at $24,402,956. 7.61% of the stock is currently owned by insiders.

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SpringWorks Therapeutics Stock Performance

SpringWorks Therapeutics stock traded down $1.38 during mid-day trading on Monday, reaching $48.51. 1,967,807 shares of the company were exchanged, compared to its average volume of 2,562,625. SpringWorks Therapeutics, Inc. has a 12-month low of $28.21 and a 12-month high of $62.00. The business has a fifty day moving average of $46.70 and a 200 day moving average of $39.46. The firm has a market cap of $3.64 billion, a P/E ratio of -13.94 and a beta of 0.76.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last issued its quarterly earnings data 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 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 analysts' expectations of $60.53 million. Sell-side analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.