E Fund Management Co. Ltd. Increases Stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

E Fund Management Co. Ltd. lifted its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 11.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,467 shares of the company’s stock after acquiring an additional 981 shares during the period. E Fund Management Co. Ltd.’s holdings in SpringWorks Therapeutics were worth $357,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SWTX. Vanguard Group Inc. increased its position in SpringWorks Therapeutics by 8.2% during the 1st quarter. Vanguard Group Inc. now owns 6,529,325 shares of the company’s stock worth $321,373,000 after purchasing an additional 492,783 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in SpringWorks Therapeutics by 48.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company’s stock worth $202,318,000 after purchasing an additional 1,333,892 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in SpringWorks Therapeutics during the 1st quarter worth approximately $114,083,000. Point72 Asset Management L.P. increased its position in SpringWorks Therapeutics by 310.7% during 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. Finally, Perceptive Advisors LLC increased its position in 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 purchasing an additional 436,830 shares in the last quarter.

SpringWorks Therapeutics Stock Up 0.5 %

Shares of NASDAQ:SWTX opened at $35.58 on Thursday. SpringWorks Therapeutics, Inc. has a 52-week low of $18.00 and a 52-week high of $53.92. The company has a 50 day moving average of $38.06 and a two-hundred day moving average of $41.53. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of -6.92 and a beta of 0.79.

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

Wall Street Analysts Forecast Growth

SWTX has been the subject of a number of research analyst reports. HC Wainwright reissued a “buy” rating and set a $76.00 target price on shares of SpringWorks Therapeutics in a research report on Wednesday, August 28th. Wedbush reissued an “outperform” rating and set a $77.00 target price (up previously from $75.00) on shares of SpringWorks Therapeutics in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Six 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 an average target price of $68.50.

SpringWorks Therapeutics 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.