Massachusetts Financial Services Co. MA Purchases 69,227 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Massachusetts Financial Services Co. MA raised its position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 14.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 535,083 shares of the company’s stock after purchasing an additional 69,227 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.72% of SpringWorks Therapeutics worth $20,157,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of SpringWorks Therapeutics by 8.2% during the 1st quarter. Vanguard Group Inc. now owns 6,529,325 shares of the company’s stock valued at $321,373,000 after buying an additional 492,783 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of SpringWorks Therapeutics by 48.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company’s stock worth $202,318,000 after acquiring an additional 1,333,892 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of SpringWorks Therapeutics during the first quarter worth approximately $114,083,000. Point72 Asset Management L.P. lifted its holdings in shares of 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 acquiring an additional 1,635,722 shares during the last quarter. Finally, Perceptive Advisors LLC boosted its stake in shares of SpringWorks Therapeutics by 28.7% in the 4th quarter. Perceptive Advisors LLC now owns 1,957,246 shares of the company’s stock valued at $71,439,000 after purchasing an additional 436,830 shares in the last quarter.

SpringWorks Therapeutics Trading Down 2.7 %

SWTX stock opened at $34.38 on Friday. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -6.69 and a beta of 0.79. The firm’s 50-day moving average price is $37.80 and its two-hundred day moving average price is $41.38. SpringWorks Therapeutics, Inc. has a 12-month low of $18.00 and a 12-month high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.12) by $0.58. The business had revenue of $59.73 million for the quarter, compared to analysts’ expectations of $34.42 million. During the same quarter in the prior year, the firm earned ($1.25) EPS. The firm’s revenue for the quarter was up 59732900.0% on a year-over-year basis. Equities analysts predict that SpringWorks Therapeutics, Inc. will post -3.36 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. HC Wainwright reissued a “buy” rating and issued a $76.00 target price on shares of SpringWorks Therapeutics in a research note on Wednesday, August 28th. Finally, Wedbush restated an “outperform” rating and set a $77.00 price target (up from $75.00) 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.com, the stock has a consensus rating of “Buy” and a consensus price target of $68.50.

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.