SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 5.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,994 shares of the company’s stock after purchasing an additional 1,853 shares during the period. Wellington Management Group LLP’s holdings in SpringWorks Therapeutics were worth $1,121,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. FMR LLC increased its holdings in SpringWorks Therapeutics by 0.3% in the 3rd quarter. FMR LLC now owns 11,140,946 shares of the company’s stock valued at $356,956,000 after purchasing an additional 28,555 shares during the last quarter. Maverick Capital Ltd. lifted its position in SpringWorks Therapeutics by 6.8% in the third quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock valued at $89,018,000 after acquiring an additional 177,824 shares during the last quarter. Fiera Capital Corp boosted its position in shares of SpringWorks Therapeutics by 41.4% in the 2nd quarter. Fiera Capital Corp now owns 1,297,302 shares of the company’s stock valued at $48,869,000 after purchasing an additional 380,027 shares during the period. Duquesne Family Office LLC acquired a new stake in shares of SpringWorks Therapeutics in the second quarter valued at approximately $38,475,000. Finally, Principal Financial Group Inc. grew its position in SpringWorks Therapeutics by 102.5% during the 3rd 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 during the last quarter.

Analyst Ratings Changes

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

Insider Activity

In other news, COO Badreddin Edris sold 20,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief operating officer now owns 209,600 shares in the company, valued at $8,796,912. This trade represents a 8.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 7.61% of the company’s stock.

SpringWorks Therapeutics Price Performance

Shares of SWTX stock opened at $34.78 on Friday. SpringWorks Therapeutics, Inc. has a 1-year low of $28.21 and a 1-year high of $53.92. The business’s fifty day moving average price is $35.33 and its 200 day moving average price is $36.47. The firm has a market capitalization of $2.59 billion, a PE ratio of -8.96 and a beta of 0.86.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly 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. The business had revenue of $49.10 million during the quarter, compared to the consensus estimate of $53.28 million. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The business’s revenue was up 4810.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.27) EPS. Equities research analysts expect 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.