Stifel Financial Corp Reduces Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Stifel Financial Corp lowered its position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,681 shares of the company’s stock after selling 1,512 shares during the quarter. Stifel Financial Corp’s holdings in SpringWorks Therapeutics were worth $823,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Profund Advisors LLC raised its position in SpringWorks Therapeutics by 1.3% in the 2nd quarter. Profund Advisors LLC now owns 29,048 shares of the company’s stock valued at $1,094,000 after purchasing an additional 362 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in SpringWorks Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after purchasing an additional 474 shares during the period. State of New Jersey Common Pension Fund D increased its stake in SpringWorks Therapeutics by 1.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 46,389 shares of the company’s stock valued at $1,486,000 after purchasing an additional 871 shares during the period. E Fund Management Co. Ltd. boosted its stake in shares of SpringWorks Therapeutics by 11.6% during the second quarter. E Fund Management Co. Ltd. now owns 9,467 shares of the company’s stock worth $357,000 after buying an additional 981 shares during the period. Finally, Quarry LP grew its holdings in shares of SpringWorks Therapeutics by 20.0% during the third quarter. Quarry LP now owns 6,000 shares of the company’s stock worth $192,000 after buying an additional 1,000 shares during the last quarter.

Analyst Ratings Changes

Several research firms have commented on SWTX. Wedbush reaffirmed an “outperform” rating and set a $77.00 price objective on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. HC Wainwright decreased their price target on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Evercore ISI began coverage on shares of SpringWorks Therapeutics in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective 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 equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $69.50.

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ SWTX opened at $36.81 on Wednesday. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $53.92. The firm has a market capitalization of $2.74 billion, a P/E ratio of -9.49 and a beta of 0.86. The company’s fifty day moving average is $35.57 and its two-hundred day moving average is $36.38.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.03. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The company had revenue of $49.10 million for the quarter, compared to analyst estimates of $53.28 million. During the same period in the prior year, the business posted ($1.27) earnings per share. The firm’s revenue for the quarter was up 4810.0% compared to the same quarter last year. On average, sell-side analysts forecast that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Badreddin Edris sold 20,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total value of $839,400.00. Following the sale, the chief operating officer now directly owns 209,600 shares in the company, valued at $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.61% of the company’s stock.

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.