Massachusetts Financial Services Co. MA Buys 60,652 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Massachusetts Financial Services Co. MA raised its position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTXFree Report) by 14.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 468,078 shares of the company’s stock after buying an additional 60,652 shares during the period. Massachusetts Financial Services Co. MA owned about 0.75% of SpringWorks Therapeutics worth $17,085,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in shares of SpringWorks Therapeutics by 795.7% in the 4th quarter. Victory Capital Management Inc. now owns 369,367 shares of the company’s stock valued at $13,482,000 after purchasing an additional 328,127 shares during the last quarter. Walleye Capital LLC lifted its holdings in SpringWorks Therapeutics by 196.8% in the third quarter. Walleye Capital LLC now owns 144,307 shares of the company’s stock valued at $3,336,000 after buying an additional 95,694 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in SpringWorks Therapeutics by 18.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 501,067 shares of the company’s stock valued at $18,289,000 after acquiring an additional 77,303 shares during the last quarter. Mutual of America Capital Management LLC acquired a new stake in SpringWorks Therapeutics during the 4th quarter worth $2,344,000. Finally, Financial Security Advisor Inc. bought a new stake in shares of SpringWorks Therapeutics during the 3rd quarter valued at $734,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on SpringWorks Therapeutics from $73.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. HC Wainwright restated a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a report on Monday, May 6th. Wedbush reiterated an “outperform” rating and issued a $75.00 target price (up from $70.00) on shares of SpringWorks Therapeutics in a report on Thursday, May 2nd. Guggenheim started coverage on shares of SpringWorks Therapeutics in a research report on Monday, February 5th. They issued a “buy” rating and a $75.00 price objective for the company. Finally, Barclays lifted their target price on SpringWorks Therapeutics from $47.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SpringWorks Therapeutics has a consensus rating of “Buy” and an average target price of $68.83.

View Our Latest Stock Report on SpringWorks Therapeutics

SpringWorks Therapeutics Stock Up 0.2 %

SWTX opened at $44.84 on Friday. SpringWorks Therapeutics, Inc. has a 12 month low of $18.00 and a 12 month high of $53.92. The firm’s fifty day simple moving average is $45.84 and its 200 day simple moving average is $40.14.

SpringWorks Therapeutics (NASDAQ:SWTXGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.01). The business had revenue of $21.00 million during the quarter, compared to analysts’ expectations of $12.07 million. SpringWorks Therapeutics’s revenue for the quarter was up 2000.0% on a year-over-year basis. During the same quarter last year, the company earned ($1.18) earnings per share. On average, research analysts predict that SpringWorks Therapeutics, Inc. will post -4.6 earnings per share for the current year.

About SpringWorks Therapeutics

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for SpringWorks Therapeutics (NASDAQ:SWTX)

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