SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Shares Purchased by Invesco Ltd.

Invesco Ltd. grew its holdings in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 557,067 shares of the company's stock after purchasing an additional 32,324 shares during the quarter. Invesco Ltd. owned approximately 0.75% of SpringWorks Therapeutics worth $20,127,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Los Angeles Capital Management LLC lifted its stake in SpringWorks Therapeutics by 30.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 61,760 shares of the company's stock worth $2,231,000 after purchasing an additional 14,548 shares in the last quarter. Schroder Investment Management Group lifted its position in SpringWorks Therapeutics by 93.6% during the fourth quarter. Schroder Investment Management Group now owns 168,209 shares of the company's stock worth $6,113,000 after buying an additional 81,314 shares in the last quarter. BIT Capital GmbH boosted its stake in SpringWorks Therapeutics by 18.7% during the fourth quarter. BIT Capital GmbH now owns 53,539 shares of the company's stock worth $1,934,000 after buying an additional 8,429 shares during the last quarter. Platinum Investment Management Ltd. purchased a new stake in SpringWorks Therapeutics in the 4th quarter valued at $1,694,000. Finally, Vanguard Group Inc. increased its stake in shares of SpringWorks Therapeutics by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company's stock worth $258,650,000 after acquiring an additional 445,593 shares during the last quarter.

Analysts Set New Price Targets

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

SpringWorks Therapeutics Price Performance

SWTX opened at $37.89 on Friday. The business has a 50 day simple moving average of $47.81 and a 200-day simple moving average of $40.23. SpringWorks Therapeutics, Inc. has a 12 month low of $28.21 and a 12 month high of $62.00. The stock 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 posted its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The company had revenue of $61.55 million for the quarter, compared to analyst estimates of $60.53 million. Research analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current year.

Insider Buying and Selling

In other 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 value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Badreddin Edris sold 30,000 shares of the stock in a transaction on 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 sale, the chief operating officer now directly owns 189,712 shares in the company, valued at approximately $10,079,398.56. The trade was a 13.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 440,766 shares of company stock worth $24,402,956 in the last ninety days. Insiders own 7.83% of the company's stock.

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.

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