SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Shares Acquired by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. lifted its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 11.6% in the second quarter, Holdings Channel reports. The institutional investor owned 9,467 shares of the company’s stock after buying an additional 981 shares during the quarter. E Fund Management Co. Ltd.’s holdings in SpringWorks Therapeutics were worth $357,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in SpringWorks Therapeutics by 8.2% during the first quarter. Vanguard Group Inc. now owns 6,529,325 shares of the company’s stock worth $321,373,000 after purchasing an additional 492,783 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in SpringWorks Therapeutics by 48.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company’s stock worth $202,318,000 after purchasing an additional 1,333,892 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in SpringWorks Therapeutics during the first quarter worth $114,083,000. Point72 Asset Management L.P. lifted its stake in SpringWorks Therapeutics by 310.7% during the fourth quarter. Point72 Asset Management L.P. now owns 2,162,176 shares of the company’s stock worth $78,919,000 after purchasing an additional 1,635,722 shares during the last quarter. Finally, Perceptive Advisors LLC lifted its stake in SpringWorks Therapeutics by 28.7% during the fourth quarter. Perceptive Advisors LLC now owns 1,957,246 shares of the company’s stock worth $71,439,000 after purchasing an additional 436,830 shares during the last quarter.

Wall Street Analysts Forecast Growth

SWTX has been the topic of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $76.00 target price on shares of SpringWorks Therapeutics in a research note on Wednesday, August 28th. Wedbush reiterated an “outperform” rating and issued a $77.00 target price (up from $75.00) on shares of SpringWorks Therapeutics in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. raised their target price on SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $68.50.

SpringWorks Therapeutics Price Performance

SpringWorks Therapeutics stock opened at $35.58 on Thursday. The firm’s 50 day simple moving average is $38.06 and its 200-day simple moving average is $41.53. SpringWorks Therapeutics, Inc. has a fifty-two week low of $18.00 and a fifty-two week high of $53.92. The company has a market cap of $2.64 billion, a P/E ratio of -6.92 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Wednesday, August 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.12) by $0.58. The business had revenue of $59.73 million during the quarter, compared to analysts’ expectations of $34.42 million. SpringWorks Therapeutics’s revenue for the quarter was up 59732900.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.25) EPS. On average, analysts expect that SpringWorks Therapeutics, Inc. will post -3.36 EPS for the current fiscal 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.