M&T Bank Corp Grows Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

M&T Bank Corp lifted its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 16.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,155 shares of the company’s stock after purchasing an additional 2,774 shares during the period. M&T Bank Corp’s holdings in SpringWorks Therapeutics were worth $728,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SWTX. Principal Financial Group Inc. increased its stake in shares of SpringWorks Therapeutics by 102.5% during the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock worth $29,427,000 after purchasing an additional 464,903 shares in the last quarter. Assetmark Inc. increased its stake in shares of SpringWorks Therapeutics by 13.7% during the third quarter. Assetmark Inc. now owns 46,020 shares of the company’s stock worth $1,474,000 after purchasing an additional 5,546 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of SpringWorks Therapeutics by 1.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 46,389 shares of the company’s stock worth $1,486,000 after purchasing an additional 871 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of SpringWorks Therapeutics by 238.3% during the third quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company’s stock worth $1,513,000 after purchasing an additional 33,255 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of SpringWorks Therapeutics during the third quarter worth about $320,000.

Insider Buying and Selling

In other SpringWorks Therapeutics news, CEO Saqib Islam sold 48,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,002,502 shares of the company’s stock, valued at approximately $53,433,356.60. This represents a 4.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Daniel Pichl sold 29,750 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $54.36, for a total transaction of $1,617,210.00. Following the completion of the sale, the insider now directly owns 50,762 shares in the company, valued at approximately $2,759,422.32. This represents a 36.95 % 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 ninety days. Company insiders own 7.61% of the company’s stock.

SpringWorks Therapeutics Stock Performance

SpringWorks Therapeutics stock opened at $50.88 on Thursday. The company’s 50 day simple moving average is $45.24 and its 200-day simple moving average is $39.04. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of -14.62 and a beta of 0.76. SpringWorks Therapeutics, Inc. has a 1 year low of $28.21 and a 1 year high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share 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 business had revenue of $61.55 million for the quarter, compared to analysts’ expectations of $60.53 million. Equities analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.