Rhumbline Advisers Purchases 2,251 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Rhumbline Advisers grew its holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 2.3% in the 4th quarter, HoldingsChannel reports. The firm owned 101,904 shares of the company’s stock after buying an additional 2,251 shares during the quarter. Rhumbline Advisers’ holdings in SpringWorks Therapeutics were worth $3,682,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Alpha DNA Investment Management LLC acquired a new position in shares of SpringWorks Therapeutics during the third quarter worth $411,000. Ally Bridge Group NY LLC purchased a new position in shares of SpringWorks Therapeutics during the 3rd quarter valued at approximately $7,296,000. AMI Asset Management Corp acquired a new position in shares of SpringWorks Therapeutics in the fourth quarter worth about $1,438,000. Los Angeles Capital Management LLC boosted its position in SpringWorks Therapeutics by 238.3% during the third quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company’s stock worth $1,513,000 after purchasing an additional 33,255 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in SpringWorks Therapeutics by 13.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 602,227 shares of the company’s stock valued at $19,295,000 after purchasing an additional 73,613 shares during the period.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, COO Badreddin Edris sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total value of $839,400.00. Following the completion of the transaction, the chief operating officer now directly owns 209,600 shares of the company’s stock, valued at $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bhavesh Ashar sold 1,016 shares of SpringWorks Therapeutics stock in a transaction on 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 $3,797,023.07. This represents a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 391,766 shares of company stock worth $21,499,996. Corporate insiders own 7.61% of the company’s stock.

SpringWorks Therapeutics Stock Up 8.1 %

Shares of NASDAQ SWTX opened at $57.76 on Friday. The business’s 50 day moving average is $42.97 and its two-hundred day moving average is $38.32. SpringWorks Therapeutics, Inc. has a 52-week low of $28.21 and a 52-week high of $62.00. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of -16.60 and a beta of 0.81.

SpringWorks Therapeutics (NASDAQ:SWTX) last released 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). SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. The business had revenue of $61.55 million for the quarter, compared to analyst estimates of $60.53 million. Analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current fiscal 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.