SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC cut its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 161,186 shares of the company’s stock after selling 4,348 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.22% of SpringWorks Therapeutics worth $5,824,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SWTX. Mirae Asset Global Investments Co. Ltd. grew its holdings in SpringWorks Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock worth $87,000 after acquiring an additional 474 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of SpringWorks Therapeutics by 1.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 46,389 shares of the company’s stock worth $1,486,000 after purchasing an additional 871 shares in the last quarter. KBC Group NV increased its holdings in SpringWorks Therapeutics by 59.1% in the fourth quarter. KBC Group NV now owns 2,634 shares of the company’s stock valued at $95,000 after buying an additional 978 shares during the last quarter. Quarry LP raised its stake in SpringWorks Therapeutics by 20.0% in the third quarter. Quarry LP now owns 6,000 shares of the company’s stock valued at $192,000 after buying an additional 1,000 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in SpringWorks Therapeutics during the 4th quarter worth about $45,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SWTX shares. HC Wainwright reiterated a “buy” rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a report on Wednesday, February 12th. Evercore ISI raised their price objective on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Guggenheim lowered their target price on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, Wedbush reiterated an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, February 10th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $70.83.

Insider Activity

In other SpringWorks Therapeutics news, CEO Saqib Islam sold 48,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $53.30, for a total value of $2,558,400.00. Following the transaction, the chief executive officer now directly owns 1,002,502 shares of the company’s stock, valued at approximately $53,433,356.60. The trade was a 4.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Badreddin Edris sold 20,000 shares of the company’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 transaction, the chief operating officer now owns 209,600 shares of the company’s stock, valued at approximately $8,796,912. The trade was a 8.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 302,750 shares of company stock valued at $16,139,410. Insiders own 7.61% of the company’s stock.

SpringWorks Therapeutics Stock Down 2.0 %

Shares of SpringWorks Therapeutics stock opened at $56.30 on Wednesday. The firm’s fifty day simple moving average is $39.95 and its 200-day simple moving average is $37.18. SpringWorks Therapeutics, Inc. has a 12 month low of $28.21 and a 12 month high of $60.00.

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.