State of New Jersey Common Pension Fund D Reduces Stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

State of New Jersey Common Pension Fund D cut its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 20.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,518 shares of the company’s stock after selling 11,993 shares during the period. State of New Jersey Common Pension Fund D owned about 0.06% of SpringWorks Therapeutics worth $1,715,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Teacher Retirement System of Texas lifted its holdings in SpringWorks Therapeutics by 5.1% in the fourth quarter. Teacher Retirement System of Texas now owns 10,268 shares of the company’s stock valued at $375,000 after acquiring an additional 498 shares during the period. Principal Financial Group Inc. raised its holdings in SpringWorks Therapeutics by 8.3% during the fourth quarter. Principal Financial Group Inc. now owns 16,120 shares of the company’s stock worth $588,000 after purchasing an additional 1,231 shares in the last quarter. Norges Bank acquired a new stake in shares of SpringWorks Therapeutics in the fourth quarter valued at approximately $12,331,000. Assetmark Inc. grew its stake in shares of SpringWorks Therapeutics by 48.8% in the 4th quarter. Assetmark Inc. now owns 16,090 shares of the company’s stock valued at $587,000 after purchasing an additional 5,276 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in shares of SpringWorks Therapeutics by 30.7% during the 4th quarter. TD Asset Management Inc now owns 181,432 shares of the company’s stock worth $6,622,000 after buying an additional 42,600 shares in the last quarter.

Wall Street Analyst Weigh In

SWTX has been the subject of several recent research reports. Wedbush restated an “outperform” rating and set a $77.00 target price (up from $75.00) on shares of SpringWorks Therapeutics in a report on Wednesday, August 28th. JPMorgan Chase & Co. boosted their price target on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Finally, HC Wainwright reissued a “buy” rating and set a $76.00 price target on shares of SpringWorks Therapeutics in a research report on Wednesday, August 28th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $68.50.

SpringWorks Therapeutics Stock Performance

SWTX opened at $32.15 on Wednesday. The firm has a market cap of $2.38 billion, a P/E ratio of -6.25 and a beta of 0.79. The business has a 50 day moving average price of $37.43 and a 200 day moving average price of $40.97. SpringWorks Therapeutics, Inc. has a twelve month low of $18.00 and a twelve month high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Wednesday, August 7th. The company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($1.12) by $0.58. The business had revenue of $59.73 million for the quarter, compared to analyst estimates of $34.42 million. During the same quarter last year, the firm posted ($1.25) earnings per share. SpringWorks Therapeutics’s revenue was up 59732900.0% on a year-over-year basis. As a group, analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.36 earnings per share for the current fiscal 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.