Principal Financial Group Inc. Has $29.43 Million Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Principal Financial Group Inc. raised its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 102.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 918,445 shares of the company’s stock after buying an additional 464,903 shares during the period. Principal Financial Group Inc.’s holdings in SpringWorks Therapeutics were worth $29,427,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in shares of SpringWorks Therapeutics by 8.3% in the first quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock worth $230,000 after acquiring an additional 358 shares in the last quarter. Profund Advisors LLC lifted its stake in SpringWorks Therapeutics by 1.3% in the second quarter. Profund Advisors LLC now owns 29,048 shares of the company’s stock valued at $1,094,000 after buying an additional 362 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of SpringWorks Therapeutics by 47.9% in the second quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock valued at $45,000 after buying an additional 383 shares during the period. American International Group Inc. raised its holdings in shares of SpringWorks Therapeutics by 1.2% during the first quarter. American International Group Inc. now owns 33,751 shares of the company’s stock worth $1,661,000 after acquiring an additional 394 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in 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 valued at $87,000 after acquiring an additional 474 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SWTX. JPMorgan Chase & Co. boosted their price target on SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Wedbush reaffirmed an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a research report on Thursday, November 7th. Finally, HC Wainwright cut their price objective on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, SpringWorks Therapeutics presently has an average rating of “Buy” and a consensus target price of $68.17.

SpringWorks Therapeutics Trading Down 1.3 %

NASDAQ SWTX opened at $33.10 on Wednesday. SpringWorks Therapeutics, Inc. has a 12 month low of $18.00 and a 12 month high of $53.92. The stock has a 50 day moving average of $33.09 and a 200-day moving average of $37.32. The company has a market cap of $2.46 billion, a PE ratio of -7.58 and a beta of 0.79.

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.