Perceptive Advisors LLC Decreases Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Perceptive Advisors LLC trimmed its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 26.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,652,962 shares of the company’s stock after selling 609,500 shares during the quarter. SpringWorks Therapeutics makes up 1.5% of Perceptive Advisors LLC’s holdings, making the stock its 18th biggest position. Perceptive Advisors LLC’s holdings in SpringWorks Therapeutics were worth $62,267,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. First Horizon Advisors Inc. raised its holdings in shares of 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 purchasing an additional 383 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in SpringWorks Therapeutics in the 2nd quarter valued at about $123,000. Quarry LP raised its stake in SpringWorks Therapeutics by 56.3% in the 2nd quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $188,000 after acquiring an additional 1,800 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in SpringWorks Therapeutics by 20.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock valued at $220,000 after purchasing an additional 754 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in SpringWorks Therapeutics by 8.3% during the first quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock worth $230,000 after purchasing an additional 358 shares during the period.

SpringWorks Therapeutics Stock Performance

SpringWorks Therapeutics stock opened at $32.28 on Monday. SpringWorks Therapeutics, Inc. has a fifty-two week low of $18.00 and a fifty-two week high of $53.92. The stock has a market cap of $2.39 billion, a P/E ratio of -6.28 and a beta of 0.79. The firm’s fifty day moving average price is $37.11 and its 200-day moving average price is $40.60.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its earnings results on Wednesday, August 7th. The company reported ($0.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.12) by $0.58. The business had revenue of $59.73 million during the quarter, compared to the consensus estimate of $34.42 million. SpringWorks Therapeutics’s revenue was up 59732900.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.25) earnings per share. Sell-side analysts predict that SpringWorks Therapeutics, Inc. will post -3.36 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wedbush reissued an “outperform” rating and set a $77.00 target price (up previously from $75.00) on shares of SpringWorks Therapeutics in a report on Wednesday, August 28th. HC Wainwright reiterated a “buy” rating and set a $76.00 price objective on shares of SpringWorks Therapeutics in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. raised their target price on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SpringWorks Therapeutics currently has an average rating of “Buy” and a consensus price target of $68.50.

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.