Stifel Financial Corp Reduces Stock Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Stifel Financial Corp trimmed its position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 5.6% during the third quarter, Holdings Channel.com reports. The firm owned 25,681 shares of the company’s stock after selling 1,512 shares during the period. Stifel Financial Corp’s holdings in SpringWorks Therapeutics were worth $823,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. FMR LLC increased its stake in SpringWorks Therapeutics by 0.3% in the third quarter. FMR LLC now owns 11,140,946 shares of the company’s stock valued at $356,956,000 after purchasing an additional 28,555 shares during the last quarter. Maverick Capital Ltd. increased its stake in shares of SpringWorks Therapeutics by 6.8% during the 3rd quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock valued at $89,018,000 after acquiring an additional 177,824 shares during the last quarter. Fiera Capital Corp increased 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 valued at $48,869,000 after acquiring an additional 380,027 shares during the last quarter. Duquesne Family Office LLC purchased a new position in shares of SpringWorks Therapeutics during the 2nd quarter worth about $38,475,000. Finally, Principal Financial Group Inc. boosted its position in shares of SpringWorks Therapeutics by 102.5% in the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock worth $29,427,000 after acquiring an additional 464,903 shares during the last quarter.

SpringWorks Therapeutics Price Performance

Shares of SWTX opened at $36.81 on Wednesday. SpringWorks Therapeutics, Inc. has a 12 month low of $28.21 and a 12 month high of $53.92. The stock’s 50-day moving average is $35.57 and its two-hundred day moving average is $36.38. The stock has a market cap of $2.74 billion, a PE ratio of -9.49 and a beta of 0.86.

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

Insider Activity

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total value of $839,400.00. Following the completion of the transaction, the chief operating officer now directly owns 209,600 shares of the company’s stock, valued at $8,796,912. This represents a 8.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 7.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. HC Wainwright cut their price target on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. JPMorgan Chase & Co. increased their target price on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Wedbush reissued an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a research report on Monday, November 18th. Finally, Evercore ISI assumed coverage on SpringWorks Therapeutics in a report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target 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.