Massachusetts Financial Services Co. MA Sells 50,547 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Massachusetts Financial Services Co. MA trimmed its position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 7.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 592,645 shares of the company’s stock after selling 50,547 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.80% of SpringWorks Therapeutics worth $21,412,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of SpringWorks Therapeutics by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock valued at $258,650,000 after purchasing an additional 445,593 shares during the last quarter. Pictet Asset Management Holding SA increased its position in SpringWorks Therapeutics by 24.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock valued at $86,402,000 after buying an additional 465,494 shares in the last quarter. Geode Capital Management LLC raised its stake in 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 buying an additional 109,189 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in SpringWorks Therapeutics by 20.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company’s stock worth $39,882,000 after acquiring an additional 185,413 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of SpringWorks Therapeutics by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 605,248 shares of the company’s stock worth $21,868,000 after acquiring an additional 3,021 shares during the last quarter.

Analysts Set New Price Targets

SWTX has been the subject of a number of recent analyst reports. Evercore ISI lifted their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Wedbush reaffirmed an “outperform” rating and issued a $81.00 price target on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. HC Wainwright reissued a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Finally, Guggenheim cut their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $73.20.

SpringWorks Therapeutics Trading Down 9.2 %

SWTX opened at $39.09 on Monday. SpringWorks Therapeutics, Inc. has a 12-month low of $28.21 and a 12-month high of $62.00. The firm has a 50 day moving average of $48.71 and a two-hundred day moving average of $40.00. The firm has a market capitalization of $2.93 billion, a PE ratio of -11.23 and a beta of 0.79.

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

Insider Activity

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 30,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were 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 approximately $10,079,398.56. This represents a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Saqib Islam sold 48,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,002,502 shares in the company, valued at approximately $53,433,356.60. The trade was a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 440,766 shares of company stock valued at $24,402,956 in the last quarter. 7.61% of the stock is currently owned by company insiders.

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.