Geode Capital Management LLC Has $53.53 Million Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Geode Capital Management LLC lifted its position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 7.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,670,247 shares of the company’s stock after acquiring an additional 109,189 shares during the quarter. Geode Capital Management LLC owned approximately 2.25% of SpringWorks Therapeutics worth $53,526,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SWTX. FMR LLC boosted its stake in shares of SpringWorks Therapeutics by 0.3% during 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 in the last quarter. Maverick Capital Ltd. boosted its position in SpringWorks Therapeutics by 6.8% during the 3rd quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock worth $89,018,000 after buying an additional 177,824 shares during the period. Fiera Capital Corp grew its holdings in SpringWorks Therapeutics by 41.4% during the 2nd quarter. Fiera Capital Corp now owns 1,297,302 shares of the company’s stock worth $48,869,000 after acquiring an additional 380,027 shares during the last quarter. Duquesne Family Office LLC acquired a new position in SpringWorks Therapeutics in the 2nd quarter valued at approximately $38,475,000. Finally, Principal Financial Group Inc. raised its stake in shares of SpringWorks Therapeutics by 102.5% during the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after acquiring an additional 464,903 shares during the last quarter.

SpringWorks Therapeutics Price Performance

Shares of NASDAQ:SWTX opened at $35.59 on Monday. SpringWorks Therapeutics, Inc. has a 1 year low of $28.21 and a 1 year high of $53.92. The business’s 50-day moving average is $35.43 and its 200-day moving average is $36.43. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -9.17 and a beta of 0.86.

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

Insider Activity at SpringWorks Therapeutics

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

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. HC Wainwright reduced their price objective 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. Wedbush reissued an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. Evercore ISI started coverage on SpringWorks Therapeutics in a research report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently 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.