SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 22.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,036,542 shares of the company’s stock after buying an additional 1,114,080 shares during the quarter. Vanguard Group Inc. owned 8.18% of SpringWorks Therapeutics worth $220,334,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Point72 Asset Management L.P. boosted its position in SpringWorks Therapeutics by 310.7% in the 4th quarter. Point72 Asset Management L.P. now owns 2,162,176 shares of the company’s stock worth $78,919,000 after purchasing an additional 1,635,722 shares in the last quarter. RTW Investments LP purchased a new stake in SpringWorks Therapeutics during the fourth quarter worth $22,812,000. Perceptive Advisors LLC grew its position in SpringWorks Therapeutics by 28.7% during the fourth quarter. Perceptive Advisors LLC now owns 1,957,246 shares of the company’s stock valued at $71,439,000 after buying an additional 436,830 shares during the period. Norges Bank acquired a new position in shares of SpringWorks Therapeutics in the fourth quarter worth about $12,331,000. Finally, Victory Capital Management Inc. boosted its stake in shares of SpringWorks Therapeutics by 795.7% during the 4th quarter. Victory Capital Management Inc. now owns 369,367 shares of the company’s stock worth $13,482,000 after acquiring an additional 328,127 shares in the last quarter.

Wall Street Analysts Forecast Growth

SWTX has been the subject of several recent analyst reports. Wedbush restated an “outperform” rating and issued a $75.00 price target (up previously from $70.00) on shares of SpringWorks Therapeutics in a research note on Thursday, May 2nd. JPMorgan Chase & Co. increased their target price on SpringWorks Therapeutics from $73.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Finally, HC Wainwright reissued a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Friday, May 31st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $68.83.

SpringWorks Therapeutics Price Performance

Shares of NASDAQ:SWTX opened at $38.53 on Tuesday. SpringWorks Therapeutics, Inc. has a 1 year low of $18.00 and a 1 year high of $53.92. The firm has a market capitalization of $2.85 billion, a PE ratio of -7.63 and a beta of 0.80. The business’s 50 day moving average price is $41.40 and its 200-day moving average price is $43.29.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its earnings results on Thursday, May 2nd. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.01). The business had revenue of $21.00 million for the quarter, compared to the consensus estimate of $12.07 million. The firm’s revenue was up 2000.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.18) earnings per share. As a group, analysts expect that SpringWorks Therapeutics, Inc. will post -4.62 earnings per share for the current 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.