SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Shares Purchased by State Street Corp

State Street Corp raised its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 0.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,090,552 shares of the company’s stock after acquiring an additional 3,707 shares during the quarter. State Street Corp owned approximately 4.15% of SpringWorks Therapeutics worth $99,021,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SWTX. First Horizon Advisors Inc. lifted its stake 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 valued at $45,000 after purchasing an additional 383 shares during the period. Bank of New York Mellon Corp increased its stake in shares of SpringWorks Therapeutics by 28.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 298,961 shares of the company’s stock valued at $11,262,000 after purchasing an additional 66,161 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in SpringWorks Therapeutics in the 2nd quarter worth about $123,000. Principal Financial Group Inc. boosted its position in SpringWorks Therapeutics by 2,576.7% during the second quarter. Principal Financial Group Inc. now owns 453,542 shares of the company’s stock worth $17,085,000 after purchasing an additional 436,598 shares in the last quarter. Finally, Peregrine Capital Management LLC grew its holdings in SpringWorks Therapeutics by 17.1% in the second quarter. Peregrine Capital Management LLC now owns 136,563 shares of the company’s stock valued at $5,144,000 after purchasing an additional 19,915 shares during the period.

Insider Activity at SpringWorks Therapeutics

In related news, COO Badreddin Edris sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total value 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 approximately $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 7.61% of the company’s stock.

SpringWorks Therapeutics Stock Down 1.0 %

SpringWorks Therapeutics stock opened at $38.30 on Monday. The company has a fifty day simple moving average of $34.92 and a 200-day simple moving average of $36.54. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of -9.87 and a beta of 0.86. SpringWorks Therapeutics, Inc. has a 52-week low of $28.21 and a 52-week high of $53.92.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on SWTX shares. Wedbush reaffirmed an “outperform” rating and set a $77.00 target price on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. Evercore ISI initiated coverage on shares of SpringWorks Therapeutics in a research report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price objective for the company. HC Wainwright dropped their target price on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $69.50.

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.