SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its holdings in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 131.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 285,555 shares of the company’s stock after acquiring an additional 162,137 shares during the period. The Manufacturers Life Insurance Company’s holdings in SpringWorks Therapeutics were worth $9,149,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SWTX. Dynamic Technology Lab Private Ltd acquired a new position in SpringWorks Therapeutics during the third quarter worth $439,000. Alpha DNA Investment Management LLC purchased a new position in SpringWorks Therapeutics during the 3rd quarter valued at about $411,000. Charles Schwab Investment Management Inc. grew its holdings in shares of SpringWorks Therapeutics by 13.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 602,227 shares of the company’s stock valued at $19,295,000 after purchasing an additional 73,613 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of SpringWorks Therapeutics by 20.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 643,192 shares of the company’s stock worth $20,608,000 after acquiring an additional 108,109 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in SpringWorks Therapeutics during the 3rd quarter worth about $676,000.

Wall Street Analyst Weigh In

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

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ:SWTX opened at $42.55 on Wednesday. The business’s fifty day moving average price is $33.58 and its two-hundred day moving average price is $36.65. The stock has a market cap of $3.17 billion, a PE ratio of -10.97 and a beta of 0.86. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $53.92.

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

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.