Legal & General Group Plc Grows Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Legal & General Group Plc lifted its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,765 shares of the company’s stock after buying an additional 1,097 shares during the quarter. Legal & General Group Plc’s holdings in SpringWorks Therapeutics were worth $2,376,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in SpringWorks Therapeutics by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock worth $258,650,000 after acquiring an additional 445,593 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of 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. Principal Financial Group Inc. boosted its holdings in SpringWorks Therapeutics by 20.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company’s stock worth $39,882,000 after buying an additional 185,413 shares during the period. Finepoint Capital LP increased its stake in SpringWorks Therapeutics by 15.0% in the 4th quarter. Finepoint Capital LP now owns 748,752 shares of the company’s stock worth $27,052,000 after buying an additional 97,900 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in SpringWorks Therapeutics by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 605,248 shares of the company’s stock valued at $21,868,000 after acquiring an additional 3,021 shares during the period.

Analyst Ratings Changes

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

Insider Activity at SpringWorks Therapeutics

In other news, CEO Saqib Islam sold 49,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $54.24, for a total value of $2,657,760.00. Following the completion of the sale, the chief executive officer now owns 954,869 shares in the company, valued at approximately $51,792,094.56. This trade represents a 4.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Lynch sold 175,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $54.46, for a total transaction of $9,530,500.00. Following the transaction, the director now owns 130,944 shares in the company, valued at $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 quarter, insiders sold 440,766 shares of company stock valued at $24,402,956. Insiders own 7.83% of the company’s stock.

SpringWorks Therapeutics Price Performance

NASDAQ SWTX opened at $44.93 on Friday. The stock has a market capitalization of $3.37 billion, a PE ratio of -12.91 and a beta of 0.79. SpringWorks Therapeutics, Inc. has a 1-year low of $28.21 and a 1-year high of $62.00. The business has a 50 day simple moving average of $46.43 and a two-hundred day simple moving average of $40.41.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $60.53 million. On average, analysts anticipate 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.