Park Avenue Securities LLC Buys New Shares in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Park Avenue Securities LLC purchased a new stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,631 shares of the company’s stock, valued at approximately $203,000.

Several other large investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of SpringWorks Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock worth $87,000 after buying an additional 474 shares during the period. Quantbot Technologies LP bought a new position in shares of SpringWorks Therapeutics during the third quarter valued at $147,000. Quarry LP lifted its holdings in shares of SpringWorks Therapeutics by 56.3% during the second quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $188,000 after acquiring an additional 1,800 shares during the period. Commerce Bank acquired a new stake in shares of SpringWorks Therapeutics in the 3rd quarter valued at $207,000. Finally, GSA Capital Partners LLP bought a new stake in shares of SpringWorks Therapeutics in the 3rd quarter worth about $209,000.

SpringWorks Therapeutics Stock Performance

Shares of SpringWorks Therapeutics stock opened at $36.16 on Monday. SpringWorks Therapeutics, Inc. has a 52-week low of $28.21 and a 52-week high of $53.92. The business’s 50 day simple moving average is $38.12 and its 200 day simple moving average is $36.27. The firm has a market cap of $2.69 billion, a PE ratio of -9.32 and a beta of 0.82.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.03. The business had revenue of $49.10 million during the quarter, compared to the consensus estimate of $53.28 million. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The firm’s revenue for the quarter was up 4810.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.27) earnings per share. As a group, equities research analysts predict that SpringWorks Therapeutics, Inc. will post -3.11 EPS for the current year.

Insider Activity

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

Analysts Set New Price Targets

SWTX has been the topic of several recent analyst reports. Evercore ISI assumed coverage on SpringWorks Therapeutics in a report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 target price on the stock. Guggenheim decreased their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. HC Wainwright lowered their target price on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, Wedbush reiterated an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a research report on Monday, January 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $70.00.

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.