Charles Schwab Investment Management Inc. Raises Stock Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Charles Schwab Investment Management Inc. raised its position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 13.9% during the 3rd quarter, Holdings Channel reports. The firm owned 602,227 shares of the company’s stock after buying an additional 73,613 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in SpringWorks Therapeutics were worth $19,295,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. D. E. Shaw & Co. Inc. boosted its position in SpringWorks Therapeutics by 16.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 758,712 shares of the company’s stock valued at $28,581,000 after buying an additional 109,865 shares during the last quarter. Seven Eight Capital LP acquired a new stake in SpringWorks Therapeutics during the 2nd quarter valued at approximately $1,854,000. Los Angeles Capital Management LLC boosted its holdings in shares of SpringWorks Therapeutics by 238.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company’s stock valued at $1,513,000 after acquiring an additional 33,255 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of SpringWorks Therapeutics by 3.7% in the second quarter. Victory Capital Management Inc. now owns 525,983 shares of the company’s stock worth $19,814,000 after acquiring an additional 18,652 shares during the period. Finally, Mutual of America Capital Management LLC raised its holdings in shares of SpringWorks Therapeutics by 41.4% during the second quarter. Mutual of America Capital Management LLC now owns 116,915 shares of the company’s stock worth $4,404,000 after purchasing an additional 34,260 shares during the last quarter.

SpringWorks Therapeutics Stock Down 0.5 %

Shares of SpringWorks Therapeutics stock opened at $41.56 on Friday. The firm has a market cap of $3.09 billion, a PE ratio of -10.71 and a beta of 0.86. SpringWorks Therapeutics, Inc. has a twelve month low of $28.21 and a twelve month high of $53.92. The business has a 50-day moving average price of $33.96 and a 200 day moving average price of $36.72.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.03. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The business had revenue of $49.10 million during the quarter, compared to the consensus estimate of $53.28 million. During the same period in the prior year, the company posted ($1.27) EPS. The business’s quarterly revenue was up 4810.0% on a year-over-year basis. On average, sell-side analysts expect that SpringWorks Therapeutics, Inc. will post -3.12 EPS for the current year.

Insiders Place Their Bets

In other news, COO Badreddin Edris sold 20,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total transaction of $839,400.00. Following the completion of the sale, the chief operating officer now owns 209,600 shares of the company’s stock, valued at $8,796,912. The trade was a 8.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.61% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SWTX has been the topic of several recent research reports. HC Wainwright lowered their price target on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. JPMorgan Chase & Co. upped 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. Wedbush reiterated an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a research report on Monday, November 18th. Finally, Evercore ISI assumed coverage on SpringWorks Therapeutics in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $69.50.

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.