Massachusetts Financial Services Co. MA Acquires 108,109 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Massachusetts Financial Services Co. MA lifted its holdings in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 20.2% during the 3rd quarter, Holdings Channel reports. The firm owned 643,192 shares of the company’s stock after purchasing an additional 108,109 shares during the period. Massachusetts Financial Services Co. MA’s holdings in SpringWorks Therapeutics were worth $20,608,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in SpringWorks Therapeutics by 8.2% during the first quarter. Vanguard Group Inc. now owns 6,529,325 shares of the company’s stock worth $321,373,000 after buying an additional 492,783 shares in the last quarter. Maverick Capital Ltd. grew its holdings in shares of SpringWorks Therapeutics by 36.3% during the 2nd quarter. Maverick Capital Ltd. now owns 2,600,524 shares of the company’s stock worth $97,962,000 after purchasing an additional 691,894 shares in the last quarter. Fiera Capital Corp increased its position in shares of SpringWorks Therapeutics by 41.4% in the second quarter. Fiera Capital Corp now owns 1,297,302 shares of the company’s stock worth $48,869,000 after purchasing an additional 380,027 shares during the period. Duquesne Family Office LLC acquired a new position in SpringWorks Therapeutics in the second quarter valued at about $38,475,000. Finally, Principal Financial Group Inc. lifted its position in SpringWorks Therapeutics by 102.5% during the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock worth $29,427,000 after purchasing an additional 464,903 shares during the period.

Analyst Ratings Changes

SWTX has been the topic of several recent analyst reports. Wedbush reissued an “outperform” rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a report on Monday, November 18th. JPMorgan Chase & Co. lifted their price objective 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 reduced their target price on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Finally, Evercore ISI began coverage on SpringWorks Therapeutics in a report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $67.00.

SpringWorks Therapeutics Stock Performance

NASDAQ SWTX opened at $39.39 on Tuesday. The firm’s fifty day moving average price is $32.68 and its two-hundred day moving average price is $36.71. The stock has a market cap of $2.93 billion, a PE ratio of -10.15 and a beta of 0.79. SpringWorks Therapeutics, Inc. has a fifty-two week low of $20.19 and a fifty-two week high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.03. The business had revenue of $49.10 million for the quarter, compared to analyst estimates of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. SpringWorks Therapeutics’s quarterly revenue was up 4810.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.27) EPS. As a group, sell-side analysts predict that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current fiscal year.

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.