Fmr LLC Grows Stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Fmr LLC boosted its holdings in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 0.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 11,140,946 shares of the company’s stock after buying an additional 28,555 shares during the quarter. Fmr LLC owned 0.15% of SpringWorks Therapeutics worth $356,956,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Maverick Capital Ltd. grew its stake in SpringWorks Therapeutics by 36.3% during the second quarter. Maverick Capital Ltd. now owns 2,600,524 shares of the company’s stock valued at $97,962,000 after acquiring an additional 691,894 shares in the last quarter. Fiera Capital Corp raised its stake in shares of SpringWorks Therapeutics by 41.4% during the second quarter. Fiera Capital Corp now owns 1,297,302 shares of the company’s stock valued at $48,869,000 after acquiring an additional 380,027 shares in the last quarter. Duquesne Family Office LLC bought a new position in shares of SpringWorks Therapeutics during the 2nd quarter worth $38,475,000. Principal Financial Group Inc. lifted its position in shares of SpringWorks Therapeutics by 102.5% in the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock worth $29,427,000 after purchasing an additional 464,903 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its position 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 in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in 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 target price on the stock. Wedbush reiterated an “outperform” rating and set a $77.00 price target on shares of SpringWorks Therapeutics in a research report on Monday, November 18th. HC Wainwright reduced their price target on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. boosted their price objective on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $69.50.

SpringWorks Therapeutics Stock Down 0.6 %

NASDAQ SWTX opened at $41.48 on Friday. SpringWorks Therapeutics, Inc. has a 52-week low of $28.00 and a 52-week high of $53.92. The business’s 50-day moving average price is $33.19 and its 200 day moving average price is $36.74. The firm has a market cap of $3.09 billion, a P/E ratio of -10.69 and a beta of 0.79.

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

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.