Pictet Asset Management Holding SA Has $86.40 Million Stock Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Pictet Asset Management Holding SA increased its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 24.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,391,412 shares of the company’s stock after acquiring an additional 465,494 shares during the period. Pictet Asset Management Holding SA owned about 3.21% of SpringWorks Therapeutics worth $86,402,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Intech Investment Management LLC bought a new stake in shares of SpringWorks Therapeutics during the 3rd quarter worth approximately $676,000. Charles Schwab Investment Management Inc. increased its holdings in SpringWorks Therapeutics by 13.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 602,227 shares of the company’s stock worth $19,295,000 after buying an additional 73,613 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in SpringWorks Therapeutics during the third quarter worth $439,000. The Manufacturers Life Insurance Company raised its position in SpringWorks Therapeutics by 131.4% during the third quarter. The Manufacturers Life Insurance Company now owns 285,555 shares of the company’s stock worth $9,149,000 after acquiring an additional 162,137 shares in the last quarter. Finally, FMR LLC lifted its stake in SpringWorks Therapeutics by 0.3% in the third quarter. FMR LLC now owns 11,140,946 shares of the company’s stock valued at $356,956,000 after acquiring an additional 28,555 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Wedbush restated an “outperform” rating and issued a $81.00 price objective on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. Guggenheim reduced their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, HC Wainwright restated a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $73.20.

SpringWorks Therapeutics Stock Down 0.2 %

Shares of NASDAQ:SWTX opened at $47.41 on Friday. The stock has a market cap of $3.55 billion, a PE ratio of -13.62 and a beta of 0.76. The business has a 50 day moving average of $47.98 and a 200-day moving average of $39.75. SpringWorks Therapeutics, Inc. has a 12-month low of $28.21 and a 12-month high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The business had revenue of $61.55 million during the quarter, compared to analyst estimates of $60.53 million. Equities research analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Saqib Islam sold 48,000 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $53.30, for a total transaction of $2,558,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,002,502 shares in the company, valued at approximately $53,433,356.60. This represents a 4.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Badreddin Edris sold 30,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $53.13, for a total value of $1,593,900.00. Following the completion of the transaction, the chief operating officer now owns 189,712 shares in the company, valued at $10,079,398.56. The trade was a 13.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 440,766 shares of company stock worth $24,402,956 in the last quarter. Corporate insiders own 7.61% of the company’s stock.

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.