AQR Capital Management LLC Has $1.41 Million Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

AQR Capital Management LLC raised its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 92.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,413 shares of the company’s stock after acquiring an additional 18,017 shares during the quarter. AQR Capital Management LLC owned approximately 0.05% of SpringWorks Therapeutics worth $1,409,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of SpringWorks Therapeutics by 8.2% during the first quarter. Vanguard Group Inc. now owns 6,529,325 shares of the company’s stock valued at $321,373,000 after acquiring an additional 492,783 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of SpringWorks Therapeutics by 48.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company’s stock valued at $202,318,000 after buying an additional 1,333,892 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of SpringWorks Therapeutics in the first quarter valued at about $114,083,000. Perceptive Advisors LLC raised its holdings in shares of 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, Fiera Capital Corp raised its holdings in shares of SpringWorks Therapeutics by 41.4% in the second quarter. Fiera Capital Corp now owns 1,297,302 shares of the company’s stock valued at $48,869,000 after buying an additional 380,027 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

SpringWorks Therapeutics Price Performance

Shares of SWTX opened at $30.35 on Friday. The business has a 50-day moving average of $36.34 and a 200-day moving average of $39.67. SpringWorks Therapeutics, Inc. has a 1 year low of $18.00 and a 1 year high of $53.92. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -6.03 and a beta of 0.78.

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

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.