Eagle Asset Management Inc. Sells 54,366 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Eagle Asset Management Inc. cut its holdings in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 16.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 273,479 shares of the company's stock after selling 54,366 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.37% of SpringWorks Therapeutics worth $9,296,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SWTX. First Horizon Advisors Inc. boosted its holdings in SpringWorks Therapeutics by 47.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company's stock worth $45,000 after buying an additional 383 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of SpringWorks Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company's stock valued at $87,000 after purchasing an additional 474 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of SpringWorks Therapeutics during the 2nd quarter valued at $123,000. CANADA LIFE ASSURANCE Co lifted its holdings in SpringWorks Therapeutics by 20.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company's stock worth $220,000 after purchasing an additional 754 shares in the last quarter. Finally, Farallon Capital Management LLC purchased a new stake in SpringWorks Therapeutics during the 1st quarter worth about $246,000.

Wall Street Analyst Weigh In

SWTX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, September 4th. Wedbush restated an "outperform" rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a research report on Monday, November 18th. HC Wainwright decreased their price target on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a "buy" rating on the stock in a report on Tuesday, November 12th. Finally, Evercore ISI started coverage on SpringWorks Therapeutics in a research note on Wednesday. They set an "outperform" rating and a $60.00 price objective for the company. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $67.00.

SpringWorks Therapeutics Price Performance

NASDAQ SWTX traded up $2.72 during trading hours on Friday, reaching $39.02. 1,413,118 shares of the stock traded hands, compared to its average volume of 1,405,827. The stock has a 50 day simple moving average of $32.60 and a two-hundred day simple moving average of $36.78. SpringWorks Therapeutics, Inc. has a 1 year low of $20.19 and a 1 year high of $53.92. The company has a market cap of $2.90 billion, a price-to-earnings ratio of -10.06 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, topping analysts' consensus estimates of ($0.75) by $0.03. The company had revenue of $49.10 million during the quarter, compared to the consensus estimate of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. SpringWorks Therapeutics's quarterly revenue was up 4810.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.27) EPS. On average, sell-side analysts forecast that SpringWorks Therapeutics, Inc. will post -3.14 EPS for the current fiscal year.

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.