SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 9.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 255,052 shares of the company’s stock after selling 25,074 shares during the period. JPMorgan Chase & Co.’s holdings in SpringWorks Therapeutics were worth $8,172,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. grew its stake in SpringWorks Therapeutics by 102.5% in the 3rd 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 period. Exome Asset Management LLC purchased a new position in SpringWorks Therapeutics during the third quarter valued at $3,226,000. Geode Capital Management LLC grew its position in shares of SpringWorks Therapeutics by 7.0% in the third quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company’s stock valued at $53,526,000 after purchasing an additional 109,189 shares during the period. Barclays PLC increased its stake in shares of SpringWorks Therapeutics by 60.4% during the third quarter. Barclays PLC now owns 155,676 shares of the company’s stock worth $4,987,000 after purchasing an additional 58,645 shares in the last quarter. Finally, Main Management ETF Advisors LLC acquired a new position in shares of SpringWorks Therapeutics during the 3rd quarter worth about $746,000.

SpringWorks Therapeutics Stock Down 12.2 %

NASDAQ SWTX opened at $32.50 on Wednesday. The business’s fifty day simple moving average is $37.97 and its 200-day simple moving average is $36.40. The firm has a market cap of $2.42 billion, a PE ratio of -8.38 and a beta of 0.82. SpringWorks Therapeutics, Inc. has a 52 week low of $28.21 and a 52 week high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.03. The business 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 quarterly revenue was up 4810.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.27) EPS. Research analysts expect that SpringWorks Therapeutics, Inc. will post -3.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on SWTX. Evercore ISI began coverage on SpringWorks Therapeutics in a research note on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price objective for the company. HC Wainwright dropped 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. Guggenheim decreased their price objective on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Wedbush reiterated an “outperform” rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a research report on Monday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $70.00.

Insiders Place Their Bets

In related news, COO Badreddin Edris sold 20,000 shares of the business’s stock in a transaction 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.61% of the stock is owned by insiders.

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.