Rhumbline Advisers Boosts Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Rhumbline Advisers boosted its holdings in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 101,904 shares of the company’s stock after buying an additional 2,251 shares during the quarter. Rhumbline Advisers owned approximately 0.14% of SpringWorks Therapeutics worth $3,682,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its position in shares of SpringWorks Therapeutics by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 15,773 shares of the company’s stock valued at $570,000 after acquiring an additional 1,488 shares during the period. KBC Group NV lifted its position in SpringWorks Therapeutics by 59.1% during the fourth quarter. KBC Group NV now owns 2,634 shares of the company’s stock valued at $95,000 after purchasing an additional 978 shares in the last quarter. SG Americas Securities LLC bought a new stake in SpringWorks Therapeutics during the fourth quarter valued at about $210,000. AMI Asset Management Corp purchased a new stake in SpringWorks Therapeutics in the fourth quarter worth about $1,438,000. Finally, Park Avenue Securities LLC bought a new position in shares of SpringWorks Therapeutics in the fourth quarter worth about $203,000.

Insider Activity at SpringWorks Therapeutics

In other news, Director Daniel Lynch sold 175,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $54.46, for a total value of $9,530,500.00. Following the completion of the sale, the director now owns 130,944 shares in the company, valued at approximately $7,131,210.24. This trade represents a 57.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bhavesh Ashar sold 1,016 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $61.19, for a total transaction of $62,169.04. Following the completion of the sale, the insider now directly owns 62,053 shares of the company’s stock, valued at approximately $3,797,023.07. The trade was a 1.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 391,766 shares of company stock valued at $21,499,996. 7.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SWTX shares. Guggenheim cut their price objective on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Wedbush reissued an “outperform” rating and set a $81.00 target price on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. HC Wainwright reissued a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Finally, Evercore ISI increased their price objective on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $73.20.

SpringWorks Therapeutics Stock Up 8.1 %

Shares of SpringWorks Therapeutics stock opened at $57.76 on Friday. SpringWorks Therapeutics, Inc. has a twelve month low of $28.21 and a twelve month high of $62.00. The business has a 50-day moving average price of $42.97 and a 200-day moving average price of $38.32. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of -16.60 and a beta of 0.81.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.38). The firm had revenue of $61.55 million for the quarter, compared to analysts’ expectations of $60.53 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. On average, equities analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 EPS 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.