Venturi Wealth Management LLC Makes New $45,000 Investment in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Venturi Wealth Management LLC purchased a new position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,250 shares of the company’s stock, valued at approximately $45,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its position in SpringWorks Therapeutics by 20.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company’s stock valued at $39,882,000 after acquiring an additional 185,413 shares during the period. State of New Jersey Common Pension Fund D increased its position in SpringWorks Therapeutics by 19.3% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 55,343 shares of the company’s stock valued at $2,000,000 after acquiring an additional 8,954 shares during the period. Rhumbline Advisers increased its position in SpringWorks Therapeutics by 2.3% in the 4th quarter. Rhumbline Advisers now owns 101,904 shares of the company’s stock valued at $3,682,000 after acquiring an additional 2,251 shares during the period. China Universal Asset Management Co. Ltd. increased its position in SpringWorks Therapeutics by 10.4% in 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. Finally, KBC Group NV increased its position in 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 acquiring an additional 978 shares during the period.

SpringWorks Therapeutics Stock Performance

SWTX stock opened at $54.03 on Wednesday. SpringWorks Therapeutics, Inc. has a 1 year low of $28.21 and a 1 year high of $62.00. The firm has a market cap of $4.05 billion, a P/E ratio of -15.53 and a beta of 0.81. The stock’s 50 day moving average price is $41.79 and its 200 day moving average price is $37.96.

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

Wall Street Analyst Weigh In

SWTX has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a research report on Friday, February 21st. Evercore ISI boosted their target price on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Wedbush reiterated an “outperform” rating and set a $81.00 target price on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Finally, Guggenheim dropped their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, SpringWorks Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $71.50.

Insiders Place Their Bets

In related news, Director Daniel Lynch sold 175,000 shares of the stock in a transaction on Monday, February 10th. The stock was 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 directly owns 130,944 shares in the company, valued at approximately $7,131,210.24. This represents a 57.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Badreddin Edris sold 20,000 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now owns 209,600 shares of the company’s stock, valued at approximately $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 391,766 shares of company stock valued at $21,499,996 in the last quarter. 7.61% of the stock is currently owned by company insiders.

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.