SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP boosted its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 5.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,994 shares of the company’s stock after buying an additional 1,853 shares during the quarter. Wellington Management Group LLP’s holdings in SpringWorks Therapeutics were worth $1,121,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of SWTX. Duquesne Family Office LLC purchased a new stake in shares of SpringWorks Therapeutics in the second quarter valued at $38,475,000. Maverick Capital Ltd. raised its stake in SpringWorks Therapeutics by 36.3% in the 2nd quarter. Maverick Capital Ltd. now owns 2,600,524 shares of the company’s stock valued at $97,962,000 after purchasing an additional 691,894 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in SpringWorks Therapeutics by 102.5% in the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after purchasing an additional 464,903 shares in the last quarter. Fiera Capital Corp boosted its stake in shares of SpringWorks Therapeutics by 41.4% during the 2nd quarter. Fiera Capital Corp now owns 1,297,302 shares of the company’s stock worth $48,869,000 after purchasing an additional 380,027 shares during the last quarter. Finally, Candriam S.C.A. grew its holdings in shares of SpringWorks Therapeutics by 160.2% during the second quarter. Candriam S.C.A. now owns 522,104 shares of the company’s stock worth $19,667,000 after buying an additional 321,476 shares in the last quarter.

Insider Buying and Selling at SpringWorks Therapeutics

In related news, COO Badreddin Edris sold 20,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total value of $839,400.00. Following the completion of the sale, the chief operating officer now directly owns 209,600 shares in the company, valued at approximately $8,796,912. This represents a 8.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.61% of the stock is currently owned by corporate insiders.

SpringWorks Therapeutics Trading Down 3.4 %

Shares of SpringWorks Therapeutics stock opened at $34.78 on Friday. The stock has a market capitalization of $2.59 billion, a P/E ratio of -8.96 and a beta of 0.86. The business’s fifty day moving average price is $35.33 and its 200 day moving average price is $36.47. SpringWorks Therapeutics, Inc. has a twelve month low of $28.21 and a twelve month high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.03. The business had revenue of $49.10 million for the quarter, compared to analyst estimates of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The company’s revenue was up 4810.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.27) EPS. As a group, sell-side analysts predict that SpringWorks Therapeutics, Inc. will post -3.12 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SWTX shares. Wedbush reissued an “outperform” rating and set a $77.00 price objective on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. JPMorgan Chase & Co. increased 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. HC Wainwright lowered their price objective on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Evercore ISI initiated coverage on SpringWorks Therapeutics in a research report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $69.50.

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.