Seven Eight Capital LP Takes Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Seven Eight Capital LP bought a new position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 49,224 shares of the company’s stock, valued at approximately $1,854,000. Seven Eight Capital LP owned about 0.07% of SpringWorks Therapeutics at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. First Horizon Advisors Inc. boosted its position in SpringWorks Therapeutics by 47.9% during the second quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock worth $45,000 after purchasing an additional 383 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of SpringWorks Therapeutics during the 2nd quarter worth about $123,000. CANADA LIFE ASSURANCE Co grew its stake in SpringWorks Therapeutics by 20.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock valued at $220,000 after buying an additional 754 shares during the last quarter. SG Americas Securities LLC raised its holdings in SpringWorks Therapeutics by 8.3% in the 1st quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock valued at $230,000 after acquiring an additional 358 shares during the period. Finally, Financial Security Advisor Inc. acquired a new stake in SpringWorks Therapeutics during the first quarter worth approximately $246,000.

SpringWorks Therapeutics Stock Performance

SpringWorks Therapeutics stock opened at $35.58 on Thursday. The stock’s fifty day moving average price is $38.06 and its two-hundred day moving average price is $41.53. SpringWorks Therapeutics, Inc. has a one year low of $18.00 and a one year high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.54) EPS for the quarter, beating analysts’ consensus estimates of ($1.12) by $0.58. The company had revenue of $59.73 million during the quarter, compared to analyst estimates of $34.42 million. The firm’s revenue for the quarter was up 59732900.0% compared to the same quarter last year. During the same period last year, the firm earned ($1.25) EPS. As a group, equities research analysts forecast that SpringWorks Therapeutics, Inc. will post -3.36 EPS for the current fiscal year.

Analyst Ratings Changes

SWTX has been the topic of a number of recent research reports. Wedbush reiterated an “outperform” rating and set a $77.00 target price (up previously from $75.00) on shares of SpringWorks Therapeutics in a research note on Wednesday, August 28th. JPMorgan Chase & Co. increased their price objective on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $76.00 target price on shares of SpringWorks Therapeutics in a research report on Wednesday, August 28th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, SpringWorks Therapeutics has an average 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.