Walleye Capital LLC Boosts Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Walleye Capital LLC increased its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 2,439.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 286,093 shares of the company's stock after purchasing an additional 274,827 shares during the period. Walleye Capital LLC owned 0.39% of SpringWorks Therapeutics worth $9,166,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Alpha DNA Investment Management LLC bought a new position in shares of SpringWorks Therapeutics in the third quarter worth $411,000. D. E. Shaw & Co. Inc. lifted its position in SpringWorks Therapeutics by 16.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 758,712 shares of the company's stock valued at $28,581,000 after purchasing an additional 109,865 shares during the last quarter. Seven Eight Capital LP bought a new position in shares of SpringWorks Therapeutics in the 2nd quarter worth $1,854,000. Los Angeles Capital Management LLC grew its position in SpringWorks Therapeutics by 238.3% in the third quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company's stock worth $1,513,000 after acquiring an additional 33,255 shares in the last quarter. Finally, Ally Bridge Group NY LLC bought a new position in SpringWorks Therapeutics in the third quarter valued at $7,296,000.

SpringWorks Therapeutics Price Performance

SpringWorks Therapeutics stock traded down $0.25 during trading hours on Friday, reaching $41.48. The company had a trading volume of 645,350 shares, compared to its average volume of 1,451,189. SpringWorks Therapeutics, Inc. has a 12-month low of $28.00 and a 12-month high of $53.92. The company has a 50-day moving average price of $33.19 and a 200 day moving average price of $36.74. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -10.69 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.03. The company had revenue of $49.10 million for the quarter, compared to the consensus estimate of $53.28 million. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The firm's revenue for the quarter was up 4810.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.27) earnings per share. As a group, research analysts expect that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

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