Swiss National Bank Acquires 8,000 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Swiss National Bank grew its holdings in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 7.4% during the fourth quarter, Holdings Channel reports. The firm owned 116,800 shares of the company’s stock after purchasing an additional 8,000 shares during the period. Swiss National Bank’s holdings in SpringWorks Therapeutics were worth $4,220,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its holdings in SpringWorks Therapeutics by 102.5% during the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after buying an additional 464,903 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of SpringWorks Therapeutics during the 4th quarter valued at about $10,527,000. Walleye Capital LLC raised its stake in shares of SpringWorks Therapeutics by 2,439.4% in the 3rd quarter. Walleye Capital LLC now owns 286,093 shares of the company’s stock valued at $9,166,000 after acquiring an additional 274,827 shares in the last quarter. Ally Bridge Group NY LLC acquired a new stake in SpringWorks Therapeutics in the 3rd quarter worth approximately $7,296,000. Finally, Maverick Capital Ltd. boosted its position in SpringWorks Therapeutics by 6.8% during the third quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock worth $89,018,000 after purchasing an additional 177,824 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wedbush reissued an “outperform” rating and issued a $81.00 price target on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Evercore ISI lifted their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. HC Wainwright restated a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Finally, Guggenheim dropped their price objective on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, SpringWorks Therapeutics presently has a consensus rating of “Buy” and an average price target of $73.20.

Insider Buying and Selling at SpringWorks Therapeutics

In other news, COO Badreddin Edris sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $54.23, for a total transaction of $1,084,600.00. Following the sale, the chief operating officer now directly owns 169,712 shares in the company, valued at approximately $9,203,481.76. The trade was a 10.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Saqib Islam sold 48,000 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $53.30, for a total value of $2,558,400.00. Following the completion of the transaction, the chief executive officer now owns 1,002,502 shares of the company’s stock, valued at $53,433,356.60. The trade was a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 440,766 shares of company stock valued at $24,402,956 in the last quarter. Corporate insiders own 7.61% of the company’s stock.

SpringWorks Therapeutics Price Performance

NASDAQ:SWTX opened at $47.21 on Wednesday. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $62.00. The company has a fifty day moving average price of $47.22 and a 200 day moving average price of $39.58. The stock has a market cap of $3.54 billion, a P/E ratio of -13.57 and a beta of 0.76.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The company had revenue of $61.55 million for the quarter, compared to analyst estimates of $60.53 million. As a group, equities research analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current 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.