SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Shares Purchased by Verition Fund Management LLC

Verition Fund Management LLC raised its position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 101.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,500 shares of the company’s stock after buying an additional 8,826 shares during the quarter. Verition Fund Management LLC’s holdings in SpringWorks Therapeutics were worth $561,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Profund Advisors LLC increased its position in SpringWorks Therapeutics by 1.3% during the 2nd quarter. Profund Advisors LLC now owns 29,048 shares of the company’s stock worth $1,094,000 after purchasing an additional 362 shares during the period. First Horizon Advisors Inc. grew its holdings in SpringWorks Therapeutics by 47.9% during the second quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock worth $45,000 after acquiring an additional 383 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in SpringWorks Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock worth $87,000 after acquiring an additional 474 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in SpringWorks Therapeutics by 1.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 46,389 shares of the company’s stock valued at $1,486,000 after acquiring an additional 871 shares during the period. Finally, E Fund Management Co. Ltd. boosted its position in shares of SpringWorks Therapeutics by 11.6% during the 2nd quarter. E Fund Management Co. Ltd. now owns 9,467 shares of the company’s stock worth $357,000 after purchasing an additional 981 shares in the last quarter.

Insiders Place Their Bets

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total value of $839,400.00. Following the completion of the sale, the chief operating officer now owns 209,600 shares in the company, valued at $8,796,912. The trade was a 8.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 7.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. HC Wainwright cut their price target 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. JPMorgan Chase & Co. lifted their price target on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Evercore ISI started coverage on SpringWorks Therapeutics in a report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price target on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SpringWorks Therapeutics currently has an average rating of “Buy” and a consensus price target of $69.50.

SpringWorks Therapeutics Price Performance

Shares of SWTX opened at $41.63 on Wednesday. SpringWorks Therapeutics, Inc. has a 1-year low of $28.21 and a 1-year high of $53.92. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of -10.82 and a beta of 0.86. The firm has a 50 day simple moving average of $34.35 and a 200-day simple moving average of $36.61.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $49.10 million for the quarter, compared to analyst estimates of $53.28 million. During the same period in the prior year, the firm earned ($1.27) EPS. The firm’s quarterly revenue was up 4810.0% on a year-over-year basis. On average, equities analysts expect that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current fiscal year.

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.