Vanguard Group Inc. Increases Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Vanguard Group Inc. raised its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,158,871 shares of the company's stock after buying an additional 445,593 shares during the quarter. Vanguard Group Inc. owned approximately 9.62% of SpringWorks Therapeutics worth $258,650,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of SpringWorks Therapeutics by 13.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 602,227 shares of the company's stock valued at $19,295,000 after purchasing an additional 73,613 shares during the period. Quantbot Technologies LP purchased a new stake in shares of SpringWorks Therapeutics in the 3rd quarter valued at approximately $147,000. Verition Fund Management LLC increased its holdings in shares of SpringWorks Therapeutics by 101.8% during the 3rd quarter. Verition Fund Management LLC now owns 17,500 shares of the company's stock worth $561,000 after buying an additional 8,826 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of SpringWorks Therapeutics during the 3rd quarter valued at approximately $278,000. Finally, Quarry LP lifted its holdings in SpringWorks Therapeutics by 20.0% in the third quarter. Quarry LP now owns 6,000 shares of the company's stock valued at $192,000 after acquiring an additional 1,000 shares during the last quarter.

Analyst Ratings Changes

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

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Insider Buying and Selling at SpringWorks Therapeutics

In other news, Director Daniel Lynch sold 175,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.46, for a total value of $9,530,500.00. Following the sale, the director now directly owns 130,944 shares in the company, valued at approximately $7,131,210.24. This trade represents a 57.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Badreddin Edris sold 30,000 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $53.13, for a total value of $1,593,900.00. Following the transaction, the chief operating officer now directly owns 189,712 shares of the company's stock, valued at $10,079,398.56. The trade was a 13.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 440,766 shares of company stock valued at $24,402,956 in the last 90 days. Company insiders own 7.61% of the company's stock.

SpringWorks Therapeutics Trading Up 3.9 %

SpringWorks Therapeutics stock traded up $1.41 during midday trading on Wednesday, reaching $37.12. 3,477,499 shares of the stock traded hands, compared to its average volume of 1,364,293. The firm has a market cap of $2.78 billion, a PE ratio of -10.67 and a beta of 0.79. The company has a 50-day simple moving average of $48.70 and a two-hundred day simple moving average of $40.00. SpringWorks Therapeutics, Inc. has a 12-month low of $28.21 and a 12-month high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) earnings per share 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 business had revenue of $61.55 million during the quarter, compared to analyst estimates of $60.53 million. Equities research analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current 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.