Los Angeles Capital Management LLC decreased its holdings in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX – Free Report) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,957 shares of the company’s stock after selling 554 shares during the period. Los Angeles Capital Management LLC’s holdings in SpringWorks Therapeutics were worth $526,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in SpringWorks Therapeutics by 8.2% in the first quarter. Vanguard Group Inc. now owns 6,529,325 shares of the company’s stock valued at $321,373,000 after buying an additional 492,783 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of SpringWorks Therapeutics by 48.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company’s stock valued at $202,318,000 after acquiring an additional 1,333,892 shares during the period. Lord Abbett & CO. LLC bought a new position in SpringWorks Therapeutics during the first quarter worth $114,083,000. Point72 Asset Management L.P. grew its holdings in SpringWorks Therapeutics by 310.7% in the fourth quarter. Point72 Asset Management L.P. now owns 2,162,176 shares of the company’s stock worth $78,919,000 after purchasing an additional 1,635,722 shares during the period. Finally, Perceptive Advisors LLC raised its holdings in shares of SpringWorks Therapeutics by 28.7% during the fourth quarter. Perceptive Advisors LLC now owns 1,957,246 shares of the company’s stock valued at $71,439,000 after purchasing an additional 436,830 shares during the period.
SpringWorks Therapeutics Stock Performance
SWTX stock opened at $37.42 on Friday. The business has a 50-day simple moving average of $38.25 and a two-hundred day simple moving average of $41.90. The company has a market capitalization of $2.77 billion, a P/E ratio of -7.28 and a beta of 0.79. SpringWorks Therapeutics, Inc. has a 52-week low of $18.00 and a 52-week high of $53.92.
Analyst Upgrades and Downgrades
SWTX has been the subject of several research reports. Wedbush restated an “outperform” rating and issued a $77.00 target price (up from $75.00) on shares of SpringWorks Therapeutics in a research note on Wednesday, August 28th. JPMorgan Chase & Co. raised their price objective on SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $76.00 target price 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, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $68.50.
Check Out Our Latest Stock Analysis on SpringWorks Therapeutics
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.
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