Victory Capital Management Inc. Reduces Stock Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Victory Capital Management Inc. cut its holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 614,923 shares of the company's stock after selling 14,464 shares during the period. Victory Capital Management Inc. owned about 0.83% of SpringWorks Therapeutics worth $22,217,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SWTX. Venturi Wealth Management LLC acquired a new stake in shares of SpringWorks Therapeutics during the 4th quarter worth about $45,000. KBC Group NV increased its stake in SpringWorks Therapeutics by 59.1% in the fourth quarter. KBC Group NV now owns 2,634 shares of the company's stock valued at $95,000 after purchasing an additional 978 shares during the last quarter. US Bancorp DE raised its holdings in SpringWorks Therapeutics by 56.0% during the fourth quarter. US Bancorp DE now owns 4,336 shares of the company's stock worth $157,000 after purchasing an additional 1,556 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of SpringWorks Therapeutics during the 3rd quarter worth approximately $147,000. Finally, Park Avenue Securities LLC acquired a new position in shares of SpringWorks Therapeutics in the 4th quarter valued at $203,000.

Insider Activity at SpringWorks Therapeutics

In other news, insider Bhavesh Ashar sold 1,016 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $61.19, for a total transaction of $62,169.04. Following the completion of the transaction, the insider now directly owns 62,053 shares of the company's stock, valued at approximately $3,797,023.07. This represents a 1.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel Pichl sold 29,750 shares of SpringWorks Therapeutics stock in a transaction that occurred on Monday, February 10th. The shares were 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 owns 50,762 shares in the company, valued at approximately $2,759,422.32. This trade represents a 36.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 440,766 shares of company stock worth $24,402,956 in the last three months. Insiders own 7.61% of the company's stock.

SpringWorks Therapeutics Stock Performance

Shares of SWTX opened at $50.89 on Wednesday. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of -14.62 and a beta of 0.76. SpringWorks Therapeutics, Inc. has a fifty-two week low of $28.21 and a fifty-two week high of $62.00. The firm has a 50-day simple moving average of $44.94 and a 200-day simple moving average of $38.96.

Remove Ads

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $60.53 million. Equities research analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current year.

Analysts Set New Price Targets

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

SpringWorks Therapeutics Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.