Algert Global LLC Purchases Shares of 35,340 SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Algert Global LLC purchased a new position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 35,340 shares of the company's stock, valued at approximately $1,277,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Huntington National Bank increased its stake in 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 purchasing an additional 192 shares in the last quarter. AlphaQuest LLC increased its stake in SpringWorks Therapeutics by 70.2% in the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company's stock valued at $36,000 after purchasing an additional 414 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in SpringWorks Therapeutics in the fourth quarter valued at approximately $45,000. KBC Group NV increased its stake in SpringWorks Therapeutics by 59.1% in the fourth quarter. KBC Group NV now owns 2,634 shares of the company's stock valued at $95,000 after purchasing an additional 978 shares in the last quarter. Finally, US Bancorp DE increased its stake in SpringWorks Therapeutics by 56.0% in the fourth quarter. US Bancorp DE now owns 4,336 shares of the company's stock valued at $157,000 after purchasing an additional 1,556 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have commented on SWTX shares. Wedbush reaffirmed a "neutral" rating and issued a $47.00 target price (down previously from $81.00) on shares of SpringWorks Therapeutics in a research note on Monday, April 28th. Cowen downgraded shares of SpringWorks Therapeutics to a "hold" rating in a research note on Tuesday, April 29th. HC Wainwright reissued 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. TD Cowen reissued a "hold" rating and set a $47.00 price objective (down previously from $66.00) on shares of SpringWorks Therapeutics in a research report on Tuesday, April 29th. Finally, Evercore ISI downgraded shares of SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, SpringWorks Therapeutics presently has a consensus rating of "Hold" and a consensus price target of $52.57.

SpringWorks Therapeutics Stock Performance

SpringWorks Therapeutics stock traded up $0.02 during mid-day trading on Thursday, reaching $46.24. The company's stock had a trading volume of 1,595,427 shares, compared to its average volume of 2,053,756. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of -13.29 and a beta of 0.77. SpringWorks Therapeutics, Inc. has a 12 month low of $28.21 and a 12 month high of $62.00. The business's 50 day simple moving average is $44.10 and its 200 day simple moving average is $41.94.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its 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). The business had revenue of $49.09 million during the quarter, compared to the consensus estimate of $64.19 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. As a group, sell-side analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current year.

Insider Activity at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, Director Daniel Lynch sold 47,600 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $60.22, for a total value of $2,866,472.00. Following the completion of the sale, the director now owns 82,944 shares in the company, valued at $4,994,887.68. This trade represents a 36.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bhavesh Ashar sold 1,016 shares of the stock in a transaction 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 completion of the sale, the insider now owns 62,053 shares of the company's stock, valued at approximately $3,797,023.07. This represents a 1.61% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,016 shares of company stock valued at $9,102,946. Corporate insiders own 7.83% of the company's stock.

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.