Duality Advisers LP Makes New Investment in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Duality Advisers LP purchased a new position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,362 shares of the company’s stock, valued at approximately $378,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its holdings in shares of SpringWorks Therapeutics by 96.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,612 shares of the company’s stock worth $37,000 after buying an additional 792 shares during the last quarter. Strs Ohio purchased a new position in shares of SpringWorks Therapeutics during the fourth quarter worth about $102,000. SG Americas Securities LLC acquired a new stake in SpringWorks Therapeutics in the fourth quarter valued at about $157,000. Exchange Traded Concepts LLC lifted its position in SpringWorks Therapeutics by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 5,323 shares of the company’s stock valued at $194,000 after purchasing an additional 1,350 shares during the period. Finally, Amalgamated Bank lifted its position in SpringWorks Therapeutics by 12.4% in the third quarter. Amalgamated Bank now owns 8,861 shares of the company’s stock valued at $205,000 after purchasing an additional 977 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. HC Wainwright raised their price objective on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. JPMorgan Chase & Co. raised their price objective on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Guggenheim assumed coverage on shares of SpringWorks Therapeutics in a research report on Monday, February 5th. They issued a “buy” rating and a $75.00 price objective for the company. Wedbush raised their price objective on shares of SpringWorks Therapeutics from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Monday, February 26th. Finally, Barclays lifted their price target on shares of SpringWorks Therapeutics from $47.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $68.00.

SpringWorks Therapeutics Trading Up 1.9 %

SWTX stock opened at $44.20 on Friday. The firm has a 50 day moving average of $47.75 and a 200-day moving average of $37.61. SpringWorks Therapeutics, Inc. has a 12-month low of $18.00 and a 12-month high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($1.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.20). The firm had revenue of $5.45 million for the quarter, compared to analyst estimates of $1.26 million. During the same period last year, the business posted ($1.19) earnings per share. Sell-side analysts forecast that SpringWorks Therapeutics, Inc. will post -4.71 earnings per share for the current fiscal year.

Insider Transactions at SpringWorks Therapeutics

In other news, insider Daniel Pichl sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $50.10, for a total transaction of $751,500.00. Following the completion of the transaction, the insider now directly owns 45,212 shares of the company’s stock, valued at approximately $2,265,121.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 7.61% of the company’s stock.

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.