ArrowMark Colorado Holdings LLC Sells 132,929 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

ArrowMark Colorado Holdings LLC lowered its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 8.2% in the third quarter, Holdings Channel.com reports. The firm owned 1,492,062 shares of the company’s stock after selling 132,929 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in SpringWorks Therapeutics were worth $47,806,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Alpha DNA Investment Management LLC bought a new position in SpringWorks Therapeutics during the 3rd quarter valued at $411,000. D. E. Shaw & Co. Inc. lifted its position in shares of SpringWorks Therapeutics by 16.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 758,712 shares of the company’s stock valued at $28,581,000 after purchasing an additional 109,865 shares in the last quarter. Seven Eight Capital LP purchased a new position in SpringWorks Therapeutics during the second quarter worth about $1,854,000. Los Angeles Capital Management LLC grew its position in SpringWorks Therapeutics by 238.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company’s stock worth $1,513,000 after purchasing an additional 33,255 shares in the last quarter. Finally, Ally Bridge Group NY LLC purchased a new stake in SpringWorks Therapeutics in the 3rd quarter valued at about $7,296,000.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SWTX. Evercore ISI began coverage on SpringWorks Therapeutics in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. HC Wainwright decreased their target price on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Wedbush reissued an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a report on Monday, November 18th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SpringWorks Therapeutics presently has a consensus rating of “Buy” and an average price target of $69.50.

SpringWorks Therapeutics Price Performance

NASDAQ:SWTX opened at $41.48 on Monday. The company has a market capitalization of $3.09 billion, a P/E ratio of -10.69 and a beta of 0.79. The business has a fifty day simple moving average of $33.19 and a two-hundred day simple moving average of $36.68. SpringWorks Therapeutics, Inc. has a 1 year low of $28.00 and a 1 year high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.03. The company had revenue of $49.10 million during the quarter, compared to analyst estimates of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The firm’s revenue for the quarter was up 4810.0% on a year-over-year basis. During the same quarter last year, the firm posted ($1.27) EPS. As a group, analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current year.

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.