Fmr LLC Boosts Stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

FMR LLC increased its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 0.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,140,946 shares of the company's stock after acquiring an additional 28,555 shares during the period. FMR LLC owned about 15.00% of SpringWorks Therapeutics worth $356,956,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co grew its position in SpringWorks Therapeutics by 20.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company's stock valued at $220,000 after acquiring an additional 754 shares during the last quarter. DNB Asset Management AS grew its holdings in shares of SpringWorks Therapeutics by 16.5% during the 2nd quarter. DNB Asset Management AS now owns 11,402 shares of the company's stock valued at $429,000 after purchasing an additional 1,617 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of SpringWorks Therapeutics by 47.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company's stock valued at $45,000 after purchasing an additional 383 shares during the last quarter. Bank of New York Mellon Corp raised its position in SpringWorks Therapeutics by 28.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 298,961 shares of the company's stock worth $11,262,000 after purchasing an additional 66,161 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in SpringWorks Therapeutics in the second quarter worth $123,000.

SpringWorks Therapeutics Price Performance

NASDAQ:SWTX traded down $0.25 during mid-day trading on Friday, reaching $41.48. 645,350 shares of the company's stock traded hands, compared to its average volume of 1,451,189. The company has a 50 day moving average price of $33.19 and a 200-day moving average price of $36.68. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of -10.69 and a beta of 0.79. SpringWorks Therapeutics, Inc. has a 12-month low of $28.00 and a 12-month high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $53.28 million. During the same period in the previous year, the firm earned ($1.27) earnings per share. The business's revenue was up 4810.0% compared to the same quarter last year. As a group, analysts forecast that SpringWorks Therapeutics, Inc. will post -3.12 EPS for the current year.

Wall Street Analysts Forecast Growth

SWTX has been the topic of a number of recent research reports. Wedbush reaffirmed an "outperform" rating and set a $77.00 price objective on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. Evercore ISI assumed coverage on SpringWorks Therapeutics in a report on Wednesday, November 20th. They set an "outperform" rating and a $60.00 target price for the company. JPMorgan Chase & Co. lifted their price target on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 4th. Finally, HC Wainwright lowered their price objective on SpringWorks Therapeutics from $76.00 to $74.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $69.50.

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.