Dimensional Fund Advisors LP Reduces Stock Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Dimensional Fund Advisors LP lessened its holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 8.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 830,522 shares of the company’s stock after selling 75,214 shares during the period. Dimensional Fund Advisors LP’s holdings in SpringWorks Therapeutics were worth $31,285,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First Horizon Advisors Inc. boosted its stake in shares of SpringWorks Therapeutics by 47.9% during the second quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock valued at $45,000 after purchasing an additional 383 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in SpringWorks Therapeutics during the 2nd quarter valued at about $123,000. CANADA LIFE ASSURANCE Co boosted its position in SpringWorks Therapeutics by 20.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock valued at $220,000 after buying an additional 754 shares during the period. SG Americas Securities LLC boosted its position in SpringWorks Therapeutics by 8.3% in the 1st quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock valued at $230,000 after buying an additional 358 shares during the period. Finally, Financial Security Advisor Inc. bought a new position in SpringWorks Therapeutics in the 1st quarter worth about $246,000.

SpringWorks Therapeutics Stock Performance

NASDAQ SWTX opened at $32.22 on Wednesday. The company has a market cap of $2.39 billion, a PE ratio of -6.27 and a beta of 0.79. The firm’s 50 day moving average price is $36.90 and its 200-day moving average price is $40.35. SpringWorks Therapeutics, Inc. has a 52-week low of $18.00 and a 52-week high of $53.92.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SWTX. JPMorgan Chase & Co. lifted their price target on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. HC Wainwright reaffirmed a “buy” rating and set a $76.00 target price on shares of SpringWorks Therapeutics in a research report on Wednesday, August 28th. Finally, Wedbush reiterated an “outperform” rating and issued a $77.00 target price (up from $75.00) on shares of SpringWorks Therapeutics in a report on Wednesday, August 28th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SpringWorks Therapeutics has a consensus rating of “Buy” and a consensus target price of $68.50.

About SpringWorks Therapeutics

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.