ProShare Advisors LLC Sells 3,724 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

ProShare Advisors LLC lessened its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 21.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 13,749 shares of the company’s stock after selling 3,724 shares during the period. ProShare Advisors LLC’s holdings in SpringWorks Therapeutics were worth $518,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. First Horizon Advisors Inc. grew its stake in shares of SpringWorks Therapeutics by 47.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock valued at $45,000 after acquiring an additional 383 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of SpringWorks Therapeutics in the second quarter worth approximately $123,000. CANADA LIFE ASSURANCE Co increased its stake in shares of SpringWorks Therapeutics by 20.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock worth $220,000 after purchasing an additional 754 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of SpringWorks Therapeutics by 8.3% during the 1st quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock valued at $230,000 after buying an additional 358 shares in the last quarter. Finally, Financial Security Advisor Inc. bought a new position in SpringWorks Therapeutics in the 1st quarter worth $246,000.

SpringWorks Therapeutics Trading Down 0.7 %

NASDAQ:SWTX opened at $32.04 on Tuesday. The business’s 50-day moving average is $37.01 and its 200 day moving average is $40.48. SpringWorks Therapeutics, Inc. has a 12 month low of $18.00 and a 12 month high of $53.92. The company has a market capitalization of $2.37 billion, a P/E ratio of -6.23 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.12) by $0.58. The firm had revenue of $59.73 million for the quarter, compared to analysts’ expectations of $34.42 million. The firm’s revenue was up 59732900.0% on a year-over-year basis. During the same period last year, the company earned ($1.25) earnings per share. On average, research analysts forecast that SpringWorks Therapeutics, Inc. will post -3.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price target on SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. HC Wainwright reissued a “buy” rating and issued a $76.00 price target on shares of SpringWorks Therapeutics in a report on Wednesday, August 28th. Finally, Wedbush reaffirmed an “outperform” rating and set a $77.00 price objective (up from $75.00) on shares of SpringWorks Therapeutics in a report on Wednesday, August 28th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SpringWorks Therapeutics has an average rating of “Buy” and an average target price of $68.50.

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.