Vanguard Group Inc. Buys 445,593 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Vanguard Group Inc. raised its position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 6.6% in the fourth quarter, HoldingsChannel reports. The fund owned 7,158,871 shares of the company’s stock after acquiring an additional 445,593 shares during the period. Vanguard Group Inc. owned 0.10% of SpringWorks Therapeutics worth $258,650,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AlphaQuest LLC lifted its holdings in SpringWorks Therapeutics by 70.2% during the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after purchasing an additional 414 shares during the last quarter. Venturi Wealth Management LLC bought a new position in SpringWorks Therapeutics during the 4th quarter worth $45,000. KBC Group NV lifted its holdings in shares of SpringWorks Therapeutics by 59.1% during the fourth quarter. KBC Group NV now owns 2,634 shares of the company’s stock worth $95,000 after buying an additional 978 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of SpringWorks Therapeutics in the third quarter valued at about $147,000. Finally, US Bancorp DE grew its stake in shares of SpringWorks Therapeutics by 56.0% in the fourth quarter. US Bancorp DE now owns 4,336 shares of the company’s stock valued at $157,000 after acquiring an additional 1,556 shares in the last quarter.

Insider Activity at SpringWorks Therapeutics

In other news, insider Bhavesh Ashar sold 1,016 shares of SpringWorks Therapeutics stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $61.19, for a total transaction of $62,169.04. Following the sale, the insider now directly owns 62,053 shares of the company’s stock, valued at approximately $3,797,023.07. This trade represents a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Badreddin Edris sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $53.13, for a total value of $1,593,900.00. Following the completion of the transaction, the chief operating officer now directly owns 189,712 shares of the company’s stock, valued at $10,079,398.56. This represents a 13.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 440,766 shares of company stock valued at $24,402,956. 7.61% of the stock is owned by insiders.

SpringWorks Therapeutics Stock Performance

Shares of SWTX stock opened at $39.09 on Friday. SpringWorks Therapeutics, Inc. has a fifty-two week low of $28.21 and a fifty-two week high of $62.00. The stock’s fifty day moving average price is $48.71 and its two-hundred day moving average price is $39.94. The company has a market cap of $2.93 billion, a PE ratio of -11.23 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings data 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 net margin of 134.73% and a negative return on equity of 46.74%. The business had revenue of $61.55 million during the quarter, compared to analyst estimates of $60.53 million. On average, equities analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on SWTX shares. HC Wainwright reissued a “buy” rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Evercore ISI raised their price objective on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and set a $81.00 target price on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Finally, Guggenheim decreased their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $73.20.

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.