Algert Global LLC Makes New Investment in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Algert Global LLC purchased a new stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 35,340 shares of the company's stock, valued at approximately $1,277,000.

Other institutional investors have also made changes to their positions in the company. Huntington National Bank boosted its stake in shares of SpringWorks Therapeutics by 38.2% in the fourth quarter. Huntington National Bank now owns 694 shares of the company's stock valued at $25,000 after buying an additional 192 shares during the period. AlphaQuest LLC lifted its stake in 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 purchasing an additional 414 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in SpringWorks Therapeutics during the fourth quarter worth $45,000. KBC Group NV lifted its stake in SpringWorks Therapeutics by 59.1% during 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 during the last quarter. Finally, US Bancorp DE lifted its stake in SpringWorks Therapeutics by 56.0% during the fourth quarter. US Bancorp DE now owns 4,336 shares of the company's stock worth $157,000 after purchasing an additional 1,556 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Evercore ISI downgraded shares of SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Cowen cut shares of SpringWorks Therapeutics to a "hold" rating in a research report on Tuesday, April 29th. Barclays reissued an "equal weight" rating and set a $47.00 price objective (down from $63.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. Guggenheim reissued a "neutral" rating and set a $47.00 price objective on shares of SpringWorks Therapeutics in a report on Monday. Finally, Wedbush reiterated a "neutral" rating and issued a $47.00 price objective (down from $81.00) on shares of SpringWorks Therapeutics in a research note on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $52.57.

Insider Activity

In related news, insider Bhavesh Ashar sold 1,016 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.19, for a total transaction of $62,169.04. Following the transaction, the insider now owns 62,053 shares in the company, valued at $3,797,023.07. This represents a 1.61% 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, CEO Saqib Islam sold 29,328 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $60.30, for a total transaction of $1,768,478.40. Following the transaction, the chief executive officer now owns 1,034,625 shares in the company, valued at approximately $62,387,887.50. This trade represents a 2.76% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,016 shares of company stock valued at $9,102,946. Insiders own 7.83% of the company's stock.

SpringWorks Therapeutics Stock Up 0.2%

NASDAQ:SWTX traded up $0.10 during midday trading on Tuesday, hitting $46.22. The company had a trading volume of 4,051,314 shares, compared to its average volume of 2,037,277. SpringWorks Therapeutics, Inc. has a 52-week low of $28.21 and a 52-week high of $62.00. The stock's fifty day moving average price is $44.26 and its 200-day moving average price is $41.88. The company has a market capitalization of $3.47 billion, a PE ratio of -13.28 and a beta of 0.77.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.81) by ($0.30). The company had revenue of $49.09 million during the quarter, compared to analysts' expectations of $64.19 million. SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. As a group, research analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

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.