KLP Kapitalforvaltning AS Has $503,000 Stock Position in SpringWorks Therapeutics (NASDAQ:SWTX)

KLP Kapitalforvaltning AS cut its stake in shares of SpringWorks Therapeutics (NASDAQ:SWTX) by 9.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,400 shares of the company’s stock after selling 1,200 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in SpringWorks Therapeutics were worth $503,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Huntington National Bank raised its stake in SpringWorks Therapeutics by 38.2% during the fourth quarter. Huntington National Bank now owns 694 shares of the company’s stock worth $25,000 after buying an additional 192 shares during the last quarter. GF Fund Management CO. LTD. grew its holdings in shares of SpringWorks Therapeutics by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 1,905 shares of the company’s stock valued at $84,000 after buying an additional 343 shares during the last quarter. State of Wyoming grew its holdings in shares of SpringWorks Therapeutics by 39.5% during the fourth quarter. State of Wyoming now owns 1,530 shares of the company’s stock valued at $55,000 after buying an additional 433 shares during the last quarter. Barclays PLC grew its holdings in shares of SpringWorks Therapeutics by 0.3% during the fourth quarter. Barclays PLC now owns 156,123 shares of the company’s stock valued at $5,641,000 after buying an additional 447 shares during the last quarter. Finally, Virtus ETF Advisers LLC grew its holdings in shares of SpringWorks Therapeutics by 7.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 9,037 shares of the company’s stock valued at $327,000 after buying an additional 622 shares during the last quarter.

Analysts Set New Price Targets

SWTX has been the topic of several research reports. Cowen lowered shares of SpringWorks Therapeutics to a “hold” rating in a research report on Tuesday, April 29th. TD Cowen reissued a “hold” rating and issued a $47.00 price target (down previously from $66.00) on shares of SpringWorks Therapeutics in a research note on Tuesday, April 29th. Barclays reissued an “equal weight” rating and issued a $47.00 price target (down previously from $63.00) on shares of SpringWorks Therapeutics in a research note on Monday, April 28th. HC Wainwright reissued a “neutral” rating and issued a $47.00 price target (down previously from $74.00) on shares of SpringWorks Therapeutics in a research note on Wednesday, April 30th. Finally, Evercore ISI cut shares of SpringWorks Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $52.57.

SpringWorks Therapeutics Stock Performance

Shares of SWTX opened at $46.99 on Thursday. The stock has a market cap of $3.54 billion, a PE ratio of -13.78 and a beta of 0.68. SpringWorks Therapeutics has a fifty-two week low of $28.21 and a fifty-two week high of $62.00. The firm’s 50-day simple moving average is $46.86 and its two-hundred day simple moving average is $45.60.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings data 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). The firm had revenue of $49.09 million for the quarter, compared to the consensus estimate of $64.19 million. SpringWorks Therapeutics had a negative net margin of 115.60% and a negative return on equity of 51.10%. Equities research analysts predict that SpringWorks Therapeutics will post -2.05 EPS for the current 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.