Russell Investments Group Ltd. Sells 27,251 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Russell Investments Group Ltd. trimmed its holdings in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 19.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 112,942 shares of the company's stock after selling 27,251 shares during the quarter. Russell Investments Group Ltd. owned about 0.15% of SpringWorks Therapeutics worth $4,081,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of SpringWorks Therapeutics by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company's stock worth $258,650,000 after purchasing an additional 445,593 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of SpringWorks Therapeutics by 24.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company's stock worth $86,402,000 after buying an additional 465,494 shares in the last quarter. Geode Capital Management LLC increased its position in shares of SpringWorks Therapeutics by 7.0% during the third quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company's stock valued at $53,526,000 after acquiring an additional 109,189 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of SpringWorks Therapeutics by 20.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company's stock worth $39,882,000 after purchasing an additional 185,413 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of SpringWorks Therapeutics by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 605,248 shares of the company's stock valued at $21,868,000 after buying an additional 3,021 shares in the last quarter.

Analyst Upgrades and Downgrades

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

SpringWorks Therapeutics Stock Up 0.4 %

NASDAQ SWTX traded up $0.15 during trading on Friday, hitting $37.89. 1,452,576 shares of the stock traded hands, compared to its average volume of 1,391,721. The firm has a 50-day simple moving average of $47.81 and a 200-day simple moving average of $40.18. SpringWorks Therapeutics, Inc. has a 12-month low of $28.21 and a 12-month high of $62.00. The company has a market capitalization of $2.84 billion, a P/E ratio of -10.89 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) 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 during the quarter, compared to analysts' expectations of $60.53 million. As a group, research analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other SpringWorks Therapeutics news, CEO Saqib Islam sold 48,000 shares of the business's stock in a transaction that occurred 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 owns 1,002,502 shares in the company, valued at $53,433,356.60. The trade was a 4.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bhavesh Ashar sold 1,016 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $61.19, for a total value of $62,169.04. Following the completion of the sale, the insider now owns 62,053 shares in the company, valued at approximately $3,797,023.07. The trade was a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 440,766 shares of company stock valued at $24,402,956 over the last ninety days. 7.83% of the stock is owned by insiders.

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.