Ameriprise Financial Inc. Acquires 173,222 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Ameriprise Financial Inc. increased its position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 21.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 971,099 shares of the company's stock after acquiring an additional 173,222 shares during the quarter. Ameriprise Financial Inc. owned about 1.31% of SpringWorks Therapeutics worth $35,087,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Boxer Capital Management LLC acquired a new position in shares of SpringWorks Therapeutics during the fourth quarter valued at about $123,620,000. Capital International Investors boosted its position in shares of SpringWorks Therapeutics by 92.7% during the 4th quarter. Capital International Investors now owns 2,361,746 shares of the company's stock valued at $85,330,000 after acquiring an additional 1,136,079 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in shares of SpringWorks Therapeutics by 24.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company's stock valued at $86,402,000 after purchasing an additional 465,494 shares during the period. Principal Financial Group Inc. increased its holdings in shares of SpringWorks Therapeutics by 102.5% during the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company's stock worth $29,427,000 after buying an additional 464,903 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in SpringWorks Therapeutics by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company's stock worth $258,650,000 after acquiring an additional 445,593 shares during the last quarter.

SpringWorks Therapeutics Stock Up 0.1%

SpringWorks Therapeutics stock traded up $0.03 during trading hours on Friday, reaching $46.11. 7,025,072 shares of the company's stock were exchanged, compared to its average volume of 2,105,694. The firm's 50 day simple moving average is $43.95 and its 200 day simple moving average is $42.32. SpringWorks Therapeutics, Inc. has a twelve month low of $28.21 and a twelve month high of $62.00. The firm has a market capitalization of $3.46 billion, a PE ratio of -13.25 and a beta of 0.77.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last issued its quarterly 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). SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. The business had revenue of $49.09 million for the quarter, compared to analyst estimates of $64.19 million. Analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SWTX shares. TD Cowen reaffirmed a "hold" rating and issued a $47.00 target price (down from $66.00) on shares of SpringWorks Therapeutics in a research note on Tuesday, April 29th. Barclays restated an "equal weight" rating and set a $47.00 target price (down from $63.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. HC Wainwright reissued a "neutral" rating and issued a $47.00 target price (down from $74.00) on shares of SpringWorks Therapeutics in a research note on Wednesday, April 30th. 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 report on Monday, April 28th. Finally, Cowen cut SpringWorks Therapeutics to a "hold" rating in a research note on Tuesday, April 29th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, SpringWorks Therapeutics currently has an average rating of "Hold" and an average target price of $52.57.

Insiders Place Their Bets

In other news, insider Bhavesh Ashar sold 1,016 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $61.19, for a total value of $62,169.04. Following the completion of the sale, the insider now directly owns 62,053 shares in the company, valued at $3,797,023.07. This trade represents a 1.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Badreddin Edris sold 20,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $54.23, for a total value of $1,084,600.00. Following the completion of the sale, the chief operating officer now owns 169,712 shares of the company's stock, valued at approximately $9,203,481.76. This represents a 10.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,944 shares of company stock worth $8,439,479. Company insiders own 7.83% of the company's stock.

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.