Invesco Ltd. Grows Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Invesco Ltd. grew its position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 6.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 557,067 shares of the company’s stock after acquiring an additional 32,324 shares during the quarter. Invesco Ltd.’s holdings in SpringWorks Therapeutics were worth $20,127,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SWTX. Los Angeles Capital Management LLC increased its position in SpringWorks Therapeutics by 30.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 61,760 shares of the company’s stock worth $2,231,000 after purchasing an additional 14,548 shares in the last quarter. Schroder Investment Management Group increased its position in shares of SpringWorks Therapeutics by 93.6% in the fourth quarter. Schroder Investment Management Group now owns 168,209 shares of the company’s stock worth $6,113,000 after acquiring an additional 81,314 shares in the last quarter. BIT Capital GmbH raised its stake in shares of SpringWorks Therapeutics by 18.7% in the 4th quarter. BIT Capital GmbH now owns 53,539 shares of the company’s stock valued at $1,934,000 after acquiring an additional 8,429 shares during the period. Platinum Investment Management Ltd. purchased a new stake in SpringWorks Therapeutics during the 4th quarter worth $1,694,000. Finally, Vanguard Group Inc. raised 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 buying an additional 445,593 shares during the period.

Insider Transactions at SpringWorks Therapeutics

In related news, COO Badreddin Edris sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $53.13, for a total transaction of $1,593,900.00. Following the sale, the chief operating officer now owns 189,712 shares of the company’s stock, valued at $10,079,398.56. The trade was a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel Lynch sold 175,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $54.46, for a total value of $9,530,500.00. Following the transaction, the director now directly owns 130,944 shares of the company’s stock, valued at approximately $7,131,210.24. The trade was a 57.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 440,766 shares of company stock valued at $24,402,956. Company insiders own 7.83% of the company’s stock.

SpringWorks Therapeutics Price Performance

Shares of SWTX stock opened at $37.89 on Friday. SpringWorks Therapeutics, Inc. has a 12-month low of $28.21 and a 12-month high of $62.00. The business has a 50 day simple moving average of $47.81 and a 200 day simple moving average of $40.23. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of -10.89 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) 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%. On average, equities analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SWTX. HC Wainwright reaffirmed a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Wedbush reaffirmed an “outperform” rating and issued a $81.00 target price on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Evercore ISI increased their price target 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, Guggenheim lowered their price objective on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SpringWorks Therapeutics presently has an average rating of “Buy” and a consensus price target of $73.20.

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.