Hennion & Walsh Asset Management Inc. Has $1.85 Million Stock Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Hennion & Walsh Asset Management Inc. raised its position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 14.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,512 shares of the company’s stock after acquiring an additional 4,711 shares during the period. Hennion & Walsh Asset Management Inc. owned about 0.05% of SpringWorks Therapeutics worth $1,846,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Los Angeles Capital Management LLC acquired a new position in shares of SpringWorks Therapeutics in the first quarter valued at $714,000. Nomura Holdings Inc. bought a new stake in SpringWorks Therapeutics in the 4th quarter valued at $463,000. Vanguard Group Inc. raised its stake in shares of SpringWorks Therapeutics by 22.6% in the 4th quarter. Vanguard Group Inc. now owns 6,036,542 shares of the company’s stock valued at $220,334,000 after buying an additional 1,114,080 shares in the last quarter. Perceptive Advisors LLC lifted its holdings in shares of SpringWorks Therapeutics by 28.7% during the 4th quarter. Perceptive Advisors LLC now owns 1,957,246 shares of the company’s stock worth $71,439,000 after acquiring an additional 436,830 shares during the period. Finally, Sierra Summit Advisors LLC acquired a new stake in shares of SpringWorks Therapeutics during the 4th quarter valued at about $256,000.

SpringWorks Therapeutics Price Performance

Shares of SWTX opened at $37.67 on Friday. SpringWorks Therapeutics, Inc. has a one year low of $18.00 and a one year high of $53.92. The business’s 50 day simple moving average is $41.40 and its 200-day simple moving average is $43.16.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.01). The business had revenue of $21.00 million during the quarter, compared to the consensus estimate of $12.07 million. During the same quarter in the prior year, the company posted ($1.18) earnings per share. The business’s quarterly revenue was up 2000.0% on a year-over-year basis. On average, sell-side analysts predict that SpringWorks Therapeutics, Inc. will post -4.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on SWTX. Wedbush restated an “outperform” rating and set a $75.00 price target (up previously from $70.00) on shares of SpringWorks Therapeutics in a research note on Thursday, May 2nd. HC Wainwright restated a “buy” rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a research report on Friday, May 31st. Finally, JPMorgan Chase & Co. boosted their price target on SpringWorks Therapeutics from $73.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $68.83.

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.