Wells Fargo & Company MN Increases Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Wells Fargo & Company MN raised its holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 6.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 158,014 shares of the company's stock after purchasing an additional 9,846 shares during the quarter. Wells Fargo & Company MN owned 0.21% of SpringWorks Therapeutics worth $5,709,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Huntington National Bank lifted its position in shares of SpringWorks Therapeutics by 38.2% during the 4th quarter. Huntington National Bank now owns 694 shares of the company's stock valued at $25,000 after acquiring an additional 192 shares during the period. Headlands Technologies LLC acquired a new position in shares of SpringWorks Therapeutics during the fourth quarter worth about $171,000. Schroder Investment Management Group lifted its stake in shares of SpringWorks Therapeutics by 93.6% in the fourth quarter. Schroder Investment Management Group now owns 168,209 shares of the company's stock worth $6,113,000 after acquiring an additional 81,314 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of SpringWorks Therapeutics by 10.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 32,997 shares of the company's stock valued at $1,192,000 after purchasing an additional 3,058 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in shares of SpringWorks Therapeutics by 24.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company's stock valued at $86,402,000 after purchasing an additional 465,494 shares during the last quarter.

Insider Buying and Selling

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $54.23, for a total transaction of $1,084,600.00. Following the sale, the chief operating officer now directly owns 169,712 shares in the company, valued at $9,203,481.76. This represents a 10.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Pichl sold 29,750 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.36, for a total transaction of $1,617,210.00. Following the sale, the insider now owns 50,762 shares in the company, valued at $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. In the last 90 days, insiders sold 440,766 shares of company stock valued at $24,402,956. 7.83% of the stock is owned by company insiders.

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ SWTX traded up $0.09 during mid-day trading on Thursday, hitting $41.30. The stock had a trading volume of 175,683 shares, compared to its average volume of 1,401,551. The business has a 50 day moving average price of $46.68 and a two-hundred day moving average price of $40.33. The firm has a market cap of $3.09 billion, a P/E ratio of -11.87 and a beta of 0.79. SpringWorks Therapeutics, Inc. has a 1 year low of $28.21 and a 1 year high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its earnings results 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). The firm had revenue of $61.55 million for the quarter, compared to analysts' expectations of $60.53 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. Equities research analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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