SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Stock Position Lifted by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC grew its position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 30.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,760 shares of the company’s stock after acquiring an additional 14,548 shares during the quarter. Los Angeles Capital Management LLC’s holdings in SpringWorks Therapeutics were worth $2,231,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Venturi Wealth Management LLC acquired a new position in SpringWorks Therapeutics in the fourth quarter worth $45,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of SpringWorks Therapeutics by 21.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock worth $87,000 after buying an additional 474 shares during the last quarter. KBC Group NV boosted its holdings 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 bought a new stake in shares of SpringWorks Therapeutics during the 3rd quarter valued at about $147,000. Finally, Quarry LP raised its stake in SpringWorks Therapeutics by 20.0% during the third quarter. Quarry LP now owns 6,000 shares of the company’s stock worth $192,000 after acquiring an additional 1,000 shares during the period.

Insider Activity at SpringWorks Therapeutics

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

Analyst Ratings Changes

SWTX has been the subject of a number of research reports. HC Wainwright restated a “buy” rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Wedbush restated an “outperform” rating and set a $81.00 price objective on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Evercore ISI upped their price objective on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Guggenheim cut their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $71.50.

SpringWorks Therapeutics Trading Down 1.3 %

Shares of NASDAQ SWTX opened at $53.41 on Friday. SpringWorks Therapeutics, Inc. has a 12-month low of $28.21 and a 12-month high of $62.00. The company has a market cap of $4.00 billion, a PE ratio of -15.35 and a beta of 0.81. The stock has a 50 day simple moving average of $42.53 and a 200-day simple moving average of $38.18.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) 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 analyst estimates of $60.53 million. Sell-side analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

About SpringWorks Therapeutics

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.