AlphaQuest LLC Boosts Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

AlphaQuest LLC increased its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 70.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,004 shares of the company’s stock after buying an additional 414 shares during the period. AlphaQuest LLC’s holdings in SpringWorks Therapeutics were worth $36,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. FMR LLC increased its holdings in SpringWorks Therapeutics by 0.3% during the third quarter. FMR LLC now owns 11,140,946 shares of the company’s stock worth $356,956,000 after buying an additional 28,555 shares during the last quarter. Maverick Capital Ltd. increased its holdings in SpringWorks Therapeutics by 6.8% during the third quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock worth $89,018,000 after buying an additional 177,824 shares during the last quarter. Geode Capital Management LLC boosted its position in SpringWorks Therapeutics by 7.0% during the third quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company’s stock worth $53,526,000 after purchasing an additional 109,189 shares during the period. Principal Financial Group Inc. boosted its position in SpringWorks Therapeutics by 20.2% during the fourth quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company’s stock worth $39,882,000 after purchasing an additional 185,413 shares during the period. Finally, Finepoint Capital LP boosted its position in SpringWorks Therapeutics by 2.0% during the third quarter. Finepoint Capital LP now owns 650,852 shares of the company’s stock worth $20,853,000 after purchasing an additional 12,500 shares during the period.

SpringWorks Therapeutics Trading Down 2.3 %

Shares of NASDAQ:SWTX opened at $49.89 on Friday. The company has a 50 day moving average of $46.70 and a 200 day moving average of $39.48. The stock has a market cap of $3.74 billion, a P/E ratio of -14.34 and a beta of 0.76. SpringWorks Therapeutics, Inc. has a 12 month low of $28.21 and a 12 month high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) EPS 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 forecast that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Insider Activity at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, CEO Saqib Islam sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $53.30, for a total value of $2,558,400.00. Following the completion of the transaction, the chief executive officer now owns 1,002,502 shares of the company’s stock, valued at $53,433,356.60. The trade was a 4.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Badreddin Edris sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $53.13, for a total transaction of $1,593,900.00. Following the completion of the transaction, the chief operating officer now directly owns 189,712 shares of the company’s stock, valued at approximately $10,079,398.56. This represents a 13.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 440,766 shares of company stock valued at $24,402,956. Corporate insiders own 7.61% of the company’s stock.

Wall Street Analysts Forecast Growth

SWTX has been the subject of a number of research reports. 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. Guggenheim cut their target price on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Evercore ISI increased their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Finally, 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. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $73.20.

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.