SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 13.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 195,942 shares of the company’s stock after selling 30,986 shares during the period. Bank of New York Mellon Corp’s holdings in SpringWorks Therapeutics were worth $7,079,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Venturi Wealth Management LLC acquired a new position in SpringWorks Therapeutics during the 4th quarter worth about $45,000. KBC Group NV lifted its stake in SpringWorks Therapeutics by 59.1% during the 4th quarter. KBC Group NV now owns 2,634 shares of the company’s stock worth $95,000 after acquiring an additional 978 shares in the last quarter. Quantbot Technologies LP acquired a new position in SpringWorks Therapeutics during the 3rd quarter worth about $147,000. Quarry LP lifted its stake in SpringWorks Therapeutics by 20.0% during the 3rd quarter. Quarry LP now owns 6,000 shares of the company’s stock worth $192,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Park Avenue Securities LLC acquired a new position in SpringWorks Therapeutics during the 4th quarter worth about $203,000.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SWTX. Evercore ISI upped their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a 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 report on Friday, February 21st. Guggenheim cut their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Wedbush restated an “outperform” rating and set a $81.00 price target on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, SpringWorks Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $73.20.

Insider Transactions at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, insider Bhavesh Ashar sold 1,016 shares of SpringWorks Therapeutics stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $61.19, for a total transaction of $62,169.04. Following the transaction, the insider now owns 62,053 shares of the company’s stock, valued at $3,797,023.07. The trade was a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Daniel Pichl sold 29,750 shares of SpringWorks Therapeutics stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $54.36, for a total value of $1,617,210.00. Following the transaction, the insider now directly owns 50,762 shares in the company, valued at approximately $2,759,422.32. This trade represents a 36.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 440,766 shares of company stock valued at $24,402,956. Corporate insiders own 7.61% of the company’s stock.

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ SWTX opened at $51.14 on Friday. SpringWorks Therapeutics, Inc. has a fifty-two week low of $28.21 and a fifty-two week high of $62.00. The firm has a market capitalization of $3.83 billion, a PE ratio of -14.70 and a beta of 0.76. The stock’s 50-day simple moving average is $45.77 and its 200-day simple moving average is $39.16.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued 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 analyst estimates of $60.53 million. On average, sell-side analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 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.