Alliancebernstein L.P. Lowers Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Alliancebernstein L.P. reduced its position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 49.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 76,431 shares of the company's stock after selling 74,390 shares during the period. Alliancebernstein L.P. owned 0.10% of SpringWorks Therapeutics worth $2,761,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SWTX. AlphaQuest LLC lifted its position in SpringWorks Therapeutics by 70.2% in the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company's stock valued at $36,000 after acquiring an additional 414 shares in the last quarter. KBC Group NV grew its stake in SpringWorks Therapeutics by 59.1% during the fourth quarter. KBC Group NV now owns 2,634 shares of the company's stock worth $95,000 after buying an additional 978 shares in the last quarter. Arizona State Retirement System lifted its position in shares of SpringWorks Therapeutics by 7.5% during the 4th quarter. Arizona State Retirement System now owns 17,206 shares of the company's stock worth $622,000 after buying an additional 1,206 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of SpringWorks Therapeutics during the fourth quarter worth $45,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in SpringWorks Therapeutics by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 15,773 shares of the company's stock worth $570,000 after buying an additional 1,488 shares during the period.

Insiders Place Their Bets

In related news, COO Badreddin Edris sold 20,000 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $54.23, for a total transaction of $1,084,600.00. Following the completion of the sale, the chief operating officer now directly owns 169,712 shares in the company, valued at $9,203,481.76. This represents a 10.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Daniel Pichl sold 29,750 shares of the firm's stock in a transaction dated 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 in the company, valued at $2,759,422.32. The trade was a 36.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 440,766 shares of company stock valued at $24,402,956. 7.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SWTX shares. Wedbush reissued an "outperform" rating and set a $81.00 target price on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. Evercore ISI lifted their target price on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Guggenheim cut their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Finally, 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. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, SpringWorks Therapeutics has a consensus rating of "Buy" and an average price target of $73.20.

SpringWorks Therapeutics Price Performance

Shares of SWTX traded up $0.15 during midday trading on Friday, hitting $37.89. 1,452,576 shares of the company traded hands, compared to its average volume of 1,389,392. The stock has a 50-day moving average of $48.16 and a 200-day moving average of $40.14. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $62.00. The firm has a market cap 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 posted its earnings results on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.38). The business had revenue of $61.55 million for the quarter, compared to analysts' expectations of $60.53 million. SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. Sell-side analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current fiscal year.

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.