Wellington Management Group LLP Has $1.13 Million Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Wellington Management Group LLP cut its position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 10.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,181 shares of the company’s stock after selling 3,813 shares during the period. Wellington Management Group LLP’s holdings in SpringWorks Therapeutics were worth $1,127,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AlphaQuest LLC raised its stake in shares of SpringWorks Therapeutics by 70.2% in the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after buying an additional 414 shares in the last quarter. KBC Group NV raised its position in SpringWorks Therapeutics by 59.1% in the fourth quarter. KBC Group NV now owns 2,634 shares of the company’s stock worth $95,000 after purchasing an additional 978 shares in the last quarter. Arizona State Retirement System lifted its stake in SpringWorks Therapeutics by 7.5% during the fourth quarter. Arizona State Retirement System now owns 17,206 shares of the company’s stock worth $622,000 after purchasing an additional 1,206 shares during the period. Venturi Wealth Management LLC bought a new position in SpringWorks Therapeutics during the fourth quarter worth about $45,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in SpringWorks Therapeutics by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 15,773 shares of the company’s stock valued at $570,000 after purchasing an additional 1,488 shares in the last quarter.

Analysts Set New Price Targets

SWTX has been the subject of several analyst reports. Wedbush restated an “outperform” rating and set a $81.00 target price on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. HC Wainwright reaffirmed a “buy” rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Evercore ISI lifted their price target on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Guggenheim decreased 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 note on Wednesday, January 8th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $73.20.

Insider Activity

In other SpringWorks Therapeutics news, 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 transaction of $1,617,210.00. Following the transaction, the insider now directly owns 50,762 shares in the company, valued at approximately $2,759,422.32. This represents a 36.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Saqib Islam sold 49,000 shares of SpringWorks Therapeutics stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $54.24, for a total transaction of $2,657,760.00. Following the sale, the chief executive officer now owns 954,869 shares of the company’s stock, valued at approximately $51,792,094.56. This represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 440,766 shares of company stock valued at $24,402,956. Company insiders own 7.61% of the company’s stock.

SpringWorks Therapeutics Stock Up 5.9 %

SpringWorks Therapeutics stock opened at $36.47 on Monday. SpringWorks Therapeutics, Inc. has a 12-month low of $28.21 and a 12-month high of $62.00. The stock has a 50-day simple moving average of $48.63 and a 200 day simple moving average of $40.10. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of -10.48 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The company had revenue of $61.55 million for the quarter, compared to the consensus estimate of $60.53 million. As a group, sell-side analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current year.

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.