SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Shares Acquired by Rock Springs Capital Management LP

Rock Springs Capital Management LP boosted its holdings in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 64.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 328,911 shares of the company's stock after purchasing an additional 129,056 shares during the period. Rock Springs Capital Management LP owned about 0.44% of SpringWorks Therapeutics worth $11,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in SWTX. Tower Research Capital LLC TRC lifted its holdings in shares of SpringWorks Therapeutics by 132.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,931 shares of the company's stock valued at $323,000 after buying an additional 5,097 shares during the period. MetLife Investment Management LLC lifted its holdings in SpringWorks Therapeutics by 6.9% in the fourth quarter. MetLife Investment Management LLC now owns 42,089 shares of the company's stock valued at $1,521,000 after acquiring an additional 2,702 shares during the period. First Trust Advisors LP boosted its position in SpringWorks Therapeutics by 19.3% in the 4th quarter. First Trust Advisors LP now owns 13,097 shares of the company's stock worth $473,000 after purchasing an additional 2,115 shares in the last quarter. Capital International Investors boosted its position in SpringWorks Therapeutics by 92.7% in the 4th quarter. Capital International Investors now owns 2,361,746 shares of the company's stock worth $85,330,000 after purchasing an additional 1,136,079 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of SpringWorks Therapeutics by 0.3% during the 4th quarter. Barclays PLC now owns 156,123 shares of the company's stock valued at $5,641,000 after purchasing an additional 447 shares in the last quarter.

Insider Buying and Selling

In related news, CEO Saqib Islam sold 48,000 shares of the business'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 completion of the transaction, the chief executive officer now directly owns 1,002,502 shares of the company's stock, valued at $53,433,356.60. The trade was a 4.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Badreddin Edris sold 30,000 shares of SpringWorks Therapeutics stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $53.13, for a total value of $1,593,900.00. Following the completion of the transaction, the chief operating officer now owns 189,712 shares of the company's stock, valued at $10,079,398.56. The trade was a 13.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 440,766 shares of company stock worth $24,402,956. Company insiders own 7.83% of the company's stock.

Analysts Set New Price Targets

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

SpringWorks Therapeutics Stock Performance

Shares of SWTX stock traded up $3.72 on Thursday, reaching $44.93. 8,841,687 shares of the company were exchanged, compared to its average volume of 1,439,875. SpringWorks Therapeutics, Inc. has a 1 year low of $28.21 and a 1 year high of $62.00. The business has a 50-day moving average price of $46.68 and a 200 day moving average price of $40.33. The company has a market cap of $3.37 billion, a price-to-earnings ratio of -12.91 and a beta of 0.79.

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 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 business had revenue of $61.55 million for the quarter, compared to analyst estimates of $60.53 million. As a group, equities analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

SpringWorks Therapeutics Company 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.