Barclays PLC Buys 58,645 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Barclays PLC raised its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 60.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 155,676 shares of the company’s stock after acquiring an additional 58,645 shares during the period. Barclays PLC’s holdings in SpringWorks Therapeutics were worth $4,987,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SWTX. Bank of New York Mellon Corp raised its holdings in shares of SpringWorks Therapeutics by 28.4% in the second 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 during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of SpringWorks Therapeutics in the 2nd quarter worth approximately $123,000. Principal Financial Group Inc. grew its holdings in shares of SpringWorks Therapeutics by 2,576.7% in the second quarter. Principal Financial Group Inc. now owns 453,542 shares of the company’s stock valued at $17,085,000 after acquiring an additional 436,598 shares in the last quarter. Peregrine Capital Management LLC increased its position in shares of SpringWorks Therapeutics by 17.1% during the second quarter. Peregrine Capital Management LLC now owns 136,563 shares of the company’s stock valued at $5,144,000 after acquiring an additional 19,915 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in SpringWorks Therapeutics by 5.1% during the second quarter. Rhumbline Advisers now owns 104,656 shares of the company’s stock worth $3,942,000 after acquiring an additional 5,081 shares during the period.

SpringWorks Therapeutics Stock Performance

Shares of SpringWorks Therapeutics stock opened at $35.59 on Friday. The stock has a market capitalization of $2.65 billion, a P/E ratio of -9.17 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. The stock’s 50-day simple moving average is $35.43 and its 200 day simple moving average is $36.45.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results 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. The company had revenue of $49.10 million for the quarter, compared to analyst estimates of $53.28 million. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The company’s quarterly revenue was up 4810.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.27) earnings per share. Equities research analysts forecast that SpringWorks Therapeutics, Inc. will post -3.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on SWTX shares. Evercore ISI began coverage on SpringWorks Therapeutics in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price objective for the company. HC Wainwright decreased their price objective on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their target price 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. Finally, Wedbush restated an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $69.50.

Insiders Place Their Bets

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total transaction of $839,400.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 7.61% of the company’s stock.

SpringWorks Therapeutics Company 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.