First Trust Advisors LP Raises Stock Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

First Trust Advisors LP boosted its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 19.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,097 shares of the company’s stock after acquiring an additional 2,115 shares during the quarter. First Trust Advisors LP’s holdings in SpringWorks Therapeutics were worth $473,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SWTX. Huntington National Bank increased its holdings in SpringWorks Therapeutics by 38.2% in the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $25,000 after purchasing an additional 192 shares during the last quarter. AlphaQuest LLC boosted its position in shares of SpringWorks Therapeutics by 70.2% during the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after buying an additional 414 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of SpringWorks Therapeutics in the fourth quarter valued at $45,000. KBC Group NV raised its holdings in shares of SpringWorks Therapeutics by 59.1% in the 4th quarter. KBC Group NV now owns 2,634 shares of the company’s stock valued at $95,000 after buying an additional 978 shares during the period. Finally, US Bancorp DE lifted its stake in SpringWorks Therapeutics by 56.0% during the 4th quarter. US Bancorp DE now owns 4,336 shares of the company’s stock worth $157,000 after acquiring an additional 1,556 shares in the last quarter.

SpringWorks Therapeutics Trading Up 0.1 %

Shares of NASDAQ:SWTX opened at $46.26 on Friday. SpringWorks Therapeutics, Inc. has a 52 week low of $28.21 and a 52 week high of $62.00. The company’s 50 day moving average is $44.35 and its two-hundred day moving average is $41.58. The company has a market cap of $3.47 billion, a PE ratio of -13.29 and a beta of 0.77.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results on Friday, May 9th. The company reported ($1.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.30). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. As a group, equities research analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SWTX shares. Guggenheim downgraded SpringWorks Therapeutics from a “buy” rating to a “neutral” rating and dropped their target price for the company from $77.00 to $47.00 in a research report on Monday, April 28th. Wedbush restated a “neutral” rating and issued a $47.00 price objective (down previously from $81.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. Cowen lowered shares of SpringWorks Therapeutics to a “hold” rating in a report on Tuesday, April 29th. Evercore ISI downgraded shares of SpringWorks Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 28th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $47.00 price objective (down previously from $74.00) on shares of SpringWorks Therapeutics in a research report on Wednesday, April 30th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $52.57.

Insider Activity at SpringWorks Therapeutics

In other news, COO Badreddin Edris sold 30,000 shares of SpringWorks Therapeutics stock in a transaction dated 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 in the company, valued at approximately $10,079,398.56. The trade was a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Pichl sold 29,750 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $54.36, for a total value of $1,617,210.00. Following the completion of the sale, the insider now directly owns 50,762 shares of the company’s stock, valued at approximately $2,759,422.32. This trade represents a 36.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 440,766 shares of company stock valued at $24,402,956 over the last ninety days. Insiders own 7.83% of the company’s stock.

SpringWorks Therapeutics Company 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.