Oppenheimer Asset Management Inc. Has $511,000 Stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Oppenheimer Asset Management Inc. grew its holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 40.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 13,568 shares of the company’s stock after acquiring an additional 3,892 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in SpringWorks Therapeutics were worth $511,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SWTX. SG Americas Securities LLC increased its position in SpringWorks Therapeutics by 8.3% in the 1st quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock worth $230,000 after buying an additional 358 shares during the period. First Horizon Advisors Inc. grew its stake 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 worth $45,000 after acquiring an additional 383 shares during the last quarter. American International Group Inc. increased its position in 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. Teacher Retirement System of Texas raised its stake in SpringWorks Therapeutics by 5.1% during the 4th quarter. Teacher Retirement System of Texas now owns 10,268 shares of the company’s stock valued at $375,000 after purchasing an additional 498 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in SpringWorks Therapeutics by 20.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock valued at $220,000 after purchasing an additional 754 shares during the period.

Analysts Set New Price Targets

A number of brokerages have recently commented on SWTX. HC Wainwright reaffirmed a “buy” rating and set a $76.00 price objective on shares of SpringWorks Therapeutics in a research report on Wednesday, August 28th. JPMorgan Chase & Co. upped 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. Finally, Wedbush reissued an “outperform” rating and set a $77.00 price objective (up previously from $75.00) on shares of SpringWorks Therapeutics in a report on Wednesday, August 28th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $68.50.

SpringWorks Therapeutics Price Performance

Shares of SWTX stock opened at $34.38 on Friday. The stock’s fifty day simple moving average is $37.80 and its 200 day simple moving average is $41.38. SpringWorks Therapeutics, Inc. has a one year low of $18.00 and a one year high of $53.92. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -6.69 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its earnings results on Wednesday, August 7th. The company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($1.12) by $0.58. The firm had revenue of $59.73 million during the quarter, compared to the consensus estimate of $34.42 million. During the same period in the previous year, the company posted ($1.25) EPS. The firm’s revenue for the quarter was up 59732900.0% compared to the same quarter last year. On average, research analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.36 earnings per share for the current year.

About SpringWorks Therapeutics

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.