Soros Fund Management LLC Acquires 174,321 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Soros Fund Management LLC raised its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 45.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 559,321 shares of the company's stock after acquiring an additional 174,321 shares during the period. Soros Fund Management LLC owned about 0.75% of SpringWorks Therapeutics worth $17,921,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Alpha DNA Investment Management LLC bought a new position in SpringWorks Therapeutics in the third quarter valued at about $411,000. D. E. Shaw & Co. Inc. increased its stake in SpringWorks Therapeutics by 16.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 758,712 shares of the company's stock worth $28,581,000 after purchasing an additional 109,865 shares in the last quarter. Ally Bridge Group NY LLC bought a new stake in SpringWorks Therapeutics in the 3rd quarter valued at $7,296,000. Seven Eight Capital LP acquired a new position in SpringWorks Therapeutics in the 2nd quarter worth $1,854,000. Finally, Los Angeles Capital Management LLC increased its holdings in SpringWorks Therapeutics by 238.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company's stock worth $1,513,000 after purchasing an additional 33,255 shares in the last quarter.

Wall Street Analyst Weigh In

SWTX has been the subject of a number of research reports. Wedbush reiterated an "outperform" rating and set a $77.00 price objective on shares of SpringWorks Therapeutics in a report on Monday, November 18th. Evercore ISI started coverage on shares of SpringWorks Therapeutics in a research report on Wednesday, November 20th. They issued an "outperform" rating and a $60.00 target price for the company. HC Wainwright reduced 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 note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. upped their target price on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, September 4th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $69.50.

SpringWorks Therapeutics Price Performance

SWTX stock traded up $0.25 during midday trading on Friday, reaching $42.00. 220,196 shares of the company were exchanged, compared to its average volume of 998,081. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -10.76 and a beta of 0.86. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $53.92. The business has a 50-day moving average price of $33.96 and a two-hundred day moving average price of $36.72.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, topping analysts' consensus estimates of ($0.75) by $0.03. SpringWorks Therapeutics had a negative return on equity of 48.21% 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 company earned ($1.27) EPS. The company's revenue was up 4810.0% on a year-over-year basis. As a group, analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 shares were sold at an average price of $41.97, for a total transaction of $839,400.00. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 7.61% of the company's stock.

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.