Geode Capital Management LLC Buys 109,189 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Geode Capital Management LLC increased its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 7.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,670,247 shares of the company’s stock after acquiring an additional 109,189 shares during the quarter. Geode Capital Management LLC’s holdings in SpringWorks Therapeutics were worth $53,526,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alpha DNA Investment Management LLC purchased a new position in SpringWorks Therapeutics during the 3rd quarter worth $411,000. D. E. Shaw & Co. Inc. grew its position in SpringWorks Therapeutics by 16.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 758,712 shares of the company’s stock worth $28,581,000 after purchasing an additional 109,865 shares in the last quarter. Ally Bridge Group NY LLC bought a new stake in SpringWorks Therapeutics in the 3rd quarter worth about $7,296,000. Los Angeles Capital Management LLC lifted its position in shares of SpringWorks Therapeutics by 238.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company’s stock worth $1,513,000 after buying an additional 33,255 shares in the last quarter. Finally, Seven Eight Capital LP purchased a new position in shares of SpringWorks Therapeutics in the 2nd quarter worth approximately $1,854,000.

Insider Buying and Selling

In related news, COO Badreddin Edris sold 20,000 shares of the 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SWTX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Wedbush reaffirmed an “outperform” rating and set a $77.00 target price on shares of SpringWorks Therapeutics in a research report on Monday, November 18th. HC Wainwright cut 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. Finally, Evercore ISI assumed coverage on shares of SpringWorks Therapeutics in a report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price objective for the company. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, SpringWorks Therapeutics has a consensus rating of “Buy” and an average price target of $69.50.

SpringWorks Therapeutics Stock Performance

SWTX stock opened at $35.59 on Monday. The stock has a fifty day moving average of $35.43 and a 200-day moving average of $36.43. SpringWorks Therapeutics, Inc. has a fifty-two week low of $28.21 and a fifty-two week high of $53.92. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -9.17 and a beta of 0.86.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.03. The business had revenue of $49.10 million for the quarter, compared to the consensus estimate 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 revenue was up 4810.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.27) earnings per share. Equities analysts predict that SpringWorks Therapeutics, Inc. will post -3.12 EPS for the current year.

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.