Cibc World Markets Corp Takes Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Cibc World Markets Corp acquired a new position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,433 shares of the company’s stock, valued at approximately $232,000.

Other large investors also recently added to or reduced their stakes in the company. Swiss National Bank boosted its stake in shares of SpringWorks Therapeutics by 7.4% during the 4th quarter. Swiss National Bank now owns 116,800 shares of the company’s stock worth $4,220,000 after acquiring an additional 8,000 shares during the last quarter. AlphaQuest LLC lifted its position in SpringWorks Therapeutics by 70.2% during the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after purchasing an additional 414 shares in the last quarter. Raymond James Financial Inc. bought a new stake in SpringWorks Therapeutics during the fourth quarter valued at about $10,527,000. Arizona State Retirement System increased its position in SpringWorks Therapeutics by 7.5% in the fourth quarter. Arizona State Retirement System now owns 17,206 shares of the company’s stock worth $622,000 after buying an additional 1,206 shares in the last quarter. Finally, M&T Bank Corp raised its stake in shares of SpringWorks Therapeutics by 16.0% in the fourth quarter. M&T Bank Corp now owns 20,155 shares of the company’s stock worth $728,000 after buying an additional 2,774 shares during the period.

Insiders Place Their Bets

In other SpringWorks Therapeutics 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 of the company’s stock, valued at $9,203,481.76. The trade was a 10.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel Lynch sold 175,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $54.46, for a total value of $9,530,500.00. Following the completion of the sale, the director now directly owns 130,944 shares of the company’s stock, valued at $7,131,210.24. The trade was a 57.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 440,766 shares of company stock valued at $24,402,956 in the last quarter. 7.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

SpringWorks Therapeutics Stock Performance

SWTX opened at $46.48 on Thursday. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of -13.36 and a beta of 0.76. The company has a fifty day moving average of $47.48 and a 200 day moving average of $39.63. SpringWorks Therapeutics, Inc. has a fifty-two week low of $28.21 and a fifty-two week high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. The firm had revenue of $61.55 million during the quarter, compared to the consensus estimate of $60.53 million. On average, equities research analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

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.