The Manufacturers Life Insurance Company Purchases 162,137 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

The Manufacturers Life Insurance Company raised its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 131.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 285,555 shares of the company’s stock after purchasing an additional 162,137 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.38% of SpringWorks Therapeutics worth $9,149,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. First Horizon Advisors Inc. lifted its holdings in SpringWorks Therapeutics by 47.9% during 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 period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of SpringWorks Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after acquiring an additional 474 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of SpringWorks Therapeutics during the 2nd quarter valued at $123,000. Quarry LP increased its stake in SpringWorks Therapeutics by 56.3% in the 2nd quarter. Quarry LP now owns 5,000 shares of the company’s stock worth $188,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Commerce Bank purchased a new stake in SpringWorks Therapeutics in the third quarter valued at approximately $207,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SWTX shares. HC Wainwright cut their price objective on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Wedbush reissued an “outperform” rating and set a $77.00 target price on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. Evercore ISI started coverage on shares of SpringWorks Therapeutics in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price target for the company. Finally, 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 report on Wednesday, September 4th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, SpringWorks Therapeutics presently has an average rating of “Buy” and a consensus target price of $69.50.

SpringWorks Therapeutics Stock Up 1.6 %

SpringWorks Therapeutics stock opened at $42.55 on Wednesday. SpringWorks Therapeutics, Inc. has a 52-week low of $28.21 and a 52-week high of $53.92. The firm’s fifty day moving average is $33.58 and its 200 day moving average is $36.65. The company has a market cap of $3.17 billion, a price-to-earnings ratio of -10.97 and a beta of 0.86.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating 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 company had revenue of $49.10 million for the quarter, compared to the consensus estimate of $53.28 million. During the same quarter in the prior year, the company posted ($1.27) EPS. SpringWorks Therapeutics’s quarterly revenue was up 4810.0% on a year-over-year basis. On average, equities research analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current fiscal year.

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.