SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Shares Acquired by State Street Corp

State Street Corp increased its holdings in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 0.1% in the third quarter, Holdings Channel reports. The firm owned 3,090,552 shares of the company’s stock after buying an additional 3,707 shares during the period. State Street Corp’s holdings in SpringWorks Therapeutics were worth $99,021,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SWTX. Alpha DNA Investment Management LLC purchased a new position in SpringWorks Therapeutics during the third quarter worth about $411,000. D. E. Shaw & Co. Inc. lifted its holdings in shares of SpringWorks Therapeutics by 16.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 758,712 shares of the company’s stock worth $28,581,000 after acquiring an additional 109,865 shares during the last quarter. Ally Bridge Group NY LLC purchased a new position in shares of SpringWorks Therapeutics during the 3rd quarter worth approximately $7,296,000. Los Angeles Capital Management LLC increased its holdings in SpringWorks Therapeutics by 238.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company’s stock valued at $1,513,000 after purchasing an additional 33,255 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new stake in SpringWorks Therapeutics in the second quarter valued at approximately $1,854,000.

SpringWorks Therapeutics Price Performance

Shares of NASDAQ SWTX opened at $38.30 on Monday. The company has a market cap of $2.85 billion, a price-to-earnings ratio of -9.87 and a beta of 0.86. The stock’s 50-day moving average is $34.92 and its two-hundred day moving average is $36.54. SpringWorks Therapeutics, Inc. has a 1-year low of $28.21 and a 1-year high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted 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 net margin of 203.09% and a negative return on equity of 48.21%. The company had revenue of $49.10 million during the quarter, compared to analysts’ expectations of $53.28 million. During the same quarter in the previous year, the business posted ($1.27) EPS. The firm’s revenue was up 4810.0% on a year-over-year basis. Equities research analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Badreddin Edris sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total transaction of $839,400.00. Following the completion of the sale, the chief operating officer now owns 209,600 shares in the company, valued at $8,796,912. The trade was a 8.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SWTX shares. HC Wainwright lowered their price target 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. Evercore ISI initiated coverage on SpringWorks Therapeutics in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 target price for the company. Wedbush reiterated an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. raised their price objective on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $69.50.

SpringWorks Therapeutics 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.