SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers grew its holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 5.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 104,656 shares of the company’s stock after acquiring an additional 5,081 shares during the period. Rhumbline Advisers owned about 0.14% of SpringWorks Therapeutics worth $3,942,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Russell Investments Group Ltd. raised its stake in shares of SpringWorks Therapeutics by 49.0% during the first quarter. Russell Investments Group Ltd. now owns 170,047 shares of the company’s stock valued at $8,370,000 after purchasing an additional 55,893 shares during the period. Seven Eight Capital LP acquired a new stake in shares of SpringWorks Therapeutics in the 4th quarter valued at about $1,544,000. Price T Rowe Associates Inc. MD raised its stake in shares of SpringWorks Therapeutics by 48.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company’s stock valued at $202,318,000 after purchasing an additional 1,333,892 shares in the last quarter. Perceptive Advisors LLC increased its holdings in SpringWorks Therapeutics by 28.7% in 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 last quarter. Finally, Point72 Asset Management L.P. raised its stake in SpringWorks Therapeutics by 310.7% during the fourth quarter. Point72 Asset Management L.P. now owns 2,162,176 shares of the company’s stock valued at $78,919,000 after buying an additional 1,635,722 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have weighed in on SWTX shares. HC Wainwright reiterated a “buy” rating and set a $76.00 target price on shares of SpringWorks Therapeutics in a research note on Wednesday, August 28th. Wedbush reaffirmed an “outperform” rating and issued a $77.00 price objective (up previously from $75.00) on shares of SpringWorks Therapeutics in a report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SpringWorks Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $68.50.

SpringWorks Therapeutics Trading Down 5.0 %

SpringWorks Therapeutics stock opened at $35.56 on Tuesday. SpringWorks Therapeutics, Inc. has a 52 week low of $18.00 and a 52 week high of $53.92. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of -6.92 and a beta of 0.79. The company’s 50-day moving average price is $38.20 and its two-hundred day moving average price is $41.68.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($1.12) by $0.58. The business had revenue of $59.73 million during the quarter, compared to the consensus estimate of $34.42 million. SpringWorks Therapeutics’s revenue was up 59732900.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.25) earnings per share. Research analysts expect that SpringWorks Therapeutics, Inc. will post -3.36 earnings per share for the current fiscal year.

About SpringWorks Therapeutics

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.