Ally Bridge Group NY LLC Has $1.98 Million Stock Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Ally Bridge Group NY LLC cut its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 76.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,692 shares of the company's stock after selling 173,008 shares during the period. SpringWorks Therapeutics comprises approximately 1.7% of Ally Bridge Group NY LLC's holdings, making the stock its 28th largest holding. Ally Bridge Group NY LLC owned approximately 0.07% of SpringWorks Therapeutics worth $1,976,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boxer Capital Management LLC bought a new position in shares of SpringWorks Therapeutics in the fourth quarter valued at about $123,620,000. Soros Fund Management LLC raised its position in SpringWorks Therapeutics by 7.4% in the 4th quarter. Soros Fund Management LLC now owns 600,470 shares of the company's stock worth $21,695,000 after purchasing an additional 41,149 shares during the last quarter. Northern Trust Corp lifted its stake in shares of SpringWorks Therapeutics by 8.8% during the fourth quarter. Northern Trust Corp now owns 655,678 shares of the company's stock valued at $23,690,000 after acquiring an additional 52,908 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in SpringWorks Therapeutics by 42.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 407,683 shares of the company's stock valued at $14,730,000 after acquiring an additional 122,128 shares during the last quarter. Finally, Quarry LP increased its position in SpringWorks Therapeutics by 66.7% in the fourth quarter. Quarry LP now owns 10,000 shares of the company's stock worth $361,000 after purchasing an additional 4,000 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SWTX. Wedbush restated a "neutral" rating and issued a $47.00 price objective (down from $81.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. Cowen downgraded SpringWorks Therapeutics to a "hold" rating in a report on Tuesday, April 29th. HC Wainwright restated a "neutral" rating and set a $47.00 target price (down previously from $74.00) on shares of SpringWorks Therapeutics in a report on Wednesday, April 30th. TD Cowen reaffirmed a "hold" rating and issued a $47.00 price target (down from $66.00) on shares of SpringWorks Therapeutics in a research note on Tuesday, April 29th. Finally, Evercore ISI lowered shares of SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, SpringWorks Therapeutics presently has a consensus rating of "Hold" and an average target price of $52.57.

SpringWorks Therapeutics Price Performance

NASDAQ SWTX traded up $0.02 on Wednesday, hitting $46.18. 4,525,805 shares of the stock were exchanged, compared to its average volume of 1,949,996. SpringWorks Therapeutics, Inc. has a 52 week low of $28.21 and a 52 week high of $62.00. The company has a market capitalization of $3.46 billion, a PE ratio of -13.27 and a beta of 0.77. The business's fifty day moving average is $44.83 and its 200 day moving average is $41.33.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. The firm had revenue of $61.55 million for the quarter, compared to analyst estimates of $60.53 million. Analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other SpringWorks Therapeutics news, Director Daniel Lynch sold 175,000 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $54.46, for a total transaction of $9,530,500.00. Following the sale, the director now owns 130,944 shares of the company's stock, valued at approximately $7,131,210.24. This represents a 57.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Saqib Islam sold 49,000 shares of SpringWorks Therapeutics stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $54.24, for a total value of $2,657,760.00. Following the completion of the transaction, the chief executive officer now directly owns 954,869 shares of the company's stock, valued at approximately $51,792,094.56. This trade represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 440,766 shares of company stock valued at $24,402,956. 7.83% of the stock is currently owned by insiders.

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.