Charles Schwab Investment Management Inc. Increases Stock Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Charles Schwab Investment Management Inc. boosted its position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 0.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 605,248 shares of the company’s stock after acquiring an additional 3,021 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.81% of SpringWorks Therapeutics worth $21,868,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Venturi Wealth Management LLC purchased a new position in shares of SpringWorks Therapeutics in the 4th quarter valued at about $45,000. KBC Group NV boosted its stake in shares of SpringWorks Therapeutics by 59.1% in the 4th quarter. KBC Group NV now owns 2,634 shares of the company’s stock valued at $95,000 after buying an additional 978 shares during the period. Quantbot Technologies LP purchased a new position in shares of SpringWorks Therapeutics in the 3rd quarter valued at about $147,000. US Bancorp DE boosted its stake in shares of SpringWorks Therapeutics by 56.0% in the 4th quarter. US Bancorp DE now owns 4,336 shares of the company’s stock valued at $157,000 after buying an additional 1,556 shares during the period. Finally, Quarry LP boosted its stake in shares of SpringWorks Therapeutics by 20.0% in the 3rd quarter. Quarry LP now owns 6,000 shares of the company’s stock valued at $192,000 after buying an additional 1,000 shares during the period.

Analyst Ratings Changes

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

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ SWTX opened at $49.04 on Wednesday. SpringWorks Therapeutics, Inc. has a fifty-two week low of $28.21 and a fifty-two week high of $62.00. The firm has a market capitalization of $3.67 billion, a PE ratio of -14.09 and a beta of 0.76. The stock’s 50-day simple moving average is $46.15 and its 200-day simple moving average is $39.26.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its 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 business had revenue of $61.55 million for the quarter, compared to analyst estimates of $60.53 million. SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. On average, sell-side analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $54.23, for a total transaction of $1,084,600.00. Following the transaction, the chief operating officer now owns 169,712 shares of the company’s stock, valued at $9,203,481.76. The trade was a 10.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Saqib Islam sold 48,000 shares of SpringWorks Therapeutics stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $53.30, for a total value of $2,558,400.00. Following the transaction, the chief executive officer now directly owns 1,002,502 shares in the company, valued at approximately $53,433,356.60. This trade represents a 4.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 440,766 shares of company stock valued at $24,402,956 over the last quarter. Company insiders own 7.61% of the company’s stock.

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.