Magnetar Financial LLC Makes New Investment in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Magnetar Financial LLC acquired a new position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,338 shares of the company’s stock, valued at approximately $502,000.

Other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its holdings in SpringWorks Therapeutics by 49.0% during the first quarter. Russell Investments Group Ltd. now owns 170,047 shares of the company’s stock worth $8,370,000 after buying an additional 55,893 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of SpringWorks Therapeutics in the 4th quarter worth $1,544,000. Price T Rowe Associates Inc. MD grew 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 worth $202,318,000 after acquiring an additional 1,333,892 shares in the last quarter. Perceptive Advisors LLC grew 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 worth $71,439,000 after acquiring an additional 436,830 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake 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 in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SWTX. HC Wainwright reiterated a “buy” rating and issued a $76.00 target price on shares of SpringWorks Therapeutics in a research note on Wednesday, August 28th. Wedbush reiterated an “outperform” rating and issued a $77.00 target price (up previously from $75.00) on shares of SpringWorks Therapeutics in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. upped their target price 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. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $68.50.

SpringWorks Therapeutics Stock Performance

SWTX opened at $32.15 on Wednesday. The firm has a 50-day moving average of $37.43 and a 200 day moving average of $40.97. SpringWorks Therapeutics, Inc. has a fifty-two week low of $18.00 and a fifty-two week high of $53.92.

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