Rock Springs Capital Management LP Boosts Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Rock Springs Capital Management LP raised its position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 64.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 328,911 shares of the company’s stock after purchasing an additional 129,056 shares during the quarter. Rock Springs Capital Management LP’s holdings in SpringWorks Therapeutics were worth $11,884,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its position in shares of SpringWorks Therapeutics by 132.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,931 shares of the company’s stock worth $323,000 after purchasing an additional 5,097 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of SpringWorks Therapeutics by 6.9% during the 4th quarter. MetLife Investment Management LLC now owns 42,089 shares of the company’s stock worth $1,521,000 after purchasing an additional 2,702 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of SpringWorks Therapeutics by 19.3% in the fourth quarter. First Trust Advisors LP now owns 13,097 shares of the company’s stock valued at $473,000 after purchasing an additional 2,115 shares during the period. Capital International Investors raised its position in SpringWorks Therapeutics by 92.7% in the fourth quarter. Capital International Investors now owns 2,361,746 shares of the company’s stock valued at $85,330,000 after purchasing an additional 1,136,079 shares during the period. Finally, Barclays PLC lifted its stake in SpringWorks Therapeutics by 0.3% during the fourth quarter. Barclays PLC now owns 156,123 shares of the company’s stock worth $5,641,000 after purchasing an additional 447 shares in the last quarter.

SpringWorks Therapeutics Stock Up 0.4 %

SWTX opened at $37.89 on Monday. SpringWorks Therapeutics, Inc. has a twelve month low of $28.21 and a twelve month high of $62.00. The company’s 50-day moving average price is $47.81 and its two-hundred day moving average price is $40.29. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of -10.89 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). The firm had revenue of $61.55 million during the quarter, compared to the consensus estimate of $60.53 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. As a group, sell-side analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Insider Transactions at SpringWorks Therapeutics

In related news, Director Daniel Lynch sold 175,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 130,944 shares of the company’s stock, valued at $7,131,210.24. This represents a 57.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Pichl sold 29,750 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.36, for a total value of $1,617,210.00. Following the sale, the insider now owns 50,762 shares of the company’s stock, valued at $2,759,422.32. This trade represents a 36.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 440,766 shares of company stock valued at $24,402,956 over the last 90 days. Company insiders own 7.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Evercore ISI upped 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. Wedbush restated an “outperform” rating and issued a $81.00 target price on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Finally, Guggenheim cut their price target on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, SpringWorks Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $73.20.

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.