SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Shares Sold by Candriam S.C.A.

Candriam S.C.A. cut its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 80.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 164,015 shares of the company’s stock after selling 681,155 shares during the period. Candriam S.C.A. owned approximately 0.22% of SpringWorks Therapeutics worth $5,926,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Principal Financial Group Inc. raised 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 valued at $29,427,000 after purchasing an additional 464,903 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of SpringWorks Therapeutics during the 4th quarter valued at approximately $10,527,000. Walleye Capital LLC raised its position in shares of SpringWorks Therapeutics by 2,439.4% during the 3rd quarter. Walleye Capital LLC now owns 286,093 shares of the company’s stock valued at $9,166,000 after acquiring an additional 274,827 shares in the last quarter. Ally Bridge Group NY LLC acquired a new stake in shares of SpringWorks Therapeutics during the 3rd quarter valued at approximately $7,296,000. Finally, Maverick Capital Ltd. raised its position in shares of SpringWorks Therapeutics by 6.8% during the 3rd quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock valued at $89,018,000 after acquiring an additional 177,824 shares in the last quarter.

Insiders Place Their Bets

In related news, insider Bhavesh Ashar sold 1,016 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $61.19, for a total transaction of $62,169.04. Following the sale, the insider now owns 62,053 shares in the company, valued at approximately $3,797,023.07. This represents a 1.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Saqib Islam sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was 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 in the company, valued at approximately $53,433,356.60. This trade represents a 4.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 440,766 shares of company stock worth $24,402,956. Corporate insiders own 7.61% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wedbush reissued an “outperform” rating and set a $81.00 price target on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. HC Wainwright reissued a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Evercore ISI increased their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Guggenheim decreased 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. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $73.20.

SpringWorks Therapeutics Stock Performance

Shares of SWTX opened at $49.55 on Friday. The stock has a fifty day moving average price of $44.41 and a two-hundred day moving average price of $38.84. SpringWorks Therapeutics, Inc. has a 52-week low of $28.21 and a 52-week high of $62.00. The company has a market cap of $3.71 billion, a price-to-earnings ratio of -14.24 and a beta of 0.76.

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

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.