UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 12.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,737 shares of the company’s stock after selling 13,898 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in SpringWorks Therapeutics were worth $3,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Ally Bridge Group NY LLC purchased a new position in shares of SpringWorks Therapeutics during the third quarter valued at about $7,296,000. Finepoint Capital LP boosted its stake in SpringWorks Therapeutics by 2.0% during the third quarter. Finepoint Capital LP now owns 650,852 shares of the company’s stock valued at $20,853,000 after buying an additional 12,500 shares during the last quarter. Quantbot Technologies LP purchased a new position in SpringWorks Therapeutics during the 3rd quarter valued at approximately $147,000. FMR LLC increased its stake in SpringWorks Therapeutics by 0.3% in the 3rd quarter. FMR LLC now owns 11,140,946 shares of the company’s stock worth $356,956,000 after acquiring an additional 28,555 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of SpringWorks Therapeutics by 131.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 285,555 shares of the company’s stock worth $9,149,000 after acquiring an additional 162,137 shares in the last quarter.

Insider Buying and Selling at SpringWorks Therapeutics

In related news, COO Badreddin Edris sold 20,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total value of $839,400.00. Following the transaction, the chief operating officer now owns 209,600 shares of the company’s stock, valued at $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.61% of the stock is currently owned by corporate insiders.

SpringWorks Therapeutics Trading Down 1.0 %

SpringWorks Therapeutics stock opened at $38.30 on Friday. The firm has a market capitalization of $2.85 billion, a PE ratio of -9.87 and a beta of 0.86. SpringWorks Therapeutics, Inc. has a 12-month low of $28.21 and a 12-month high of $53.92. The firm has a 50-day moving average price of $34.92 and a 200-day moving average price of $36.61.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.03. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The business had revenue of $49.10 million during the quarter, compared to the consensus estimate of $53.28 million. During the same quarter last year, the firm earned ($1.27) earnings per share. The firm’s quarterly revenue was up 4810.0% compared to the same quarter last year. As a group, sell-side analysts predict that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on SWTX shares. HC Wainwright cut their target price on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Evercore ISI began coverage on shares of SpringWorks Therapeutics in a research report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a report on Monday, November 18th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, SpringWorks Therapeutics has an average rating of “Buy” and a consensus price target of $69.50.

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.