Ameriprise Financial Inc. Has $35.09 Million Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

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

Several other hedge funds also recently bought and sold shares of the company. Algert Global LLC acquired a new position in SpringWorks Therapeutics in the 4th quarter worth about $1,277,000. ArrowMark Colorado Holdings LLC increased its position in SpringWorks Therapeutics by 0.5% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,499,134 shares of the company's stock worth $54,164,000 after purchasing an additional 7,072 shares during the last quarter. Boxer Capital Management LLC acquired a new position in SpringWorks Therapeutics in the 4th quarter worth about $123,620,000. Soros Fund Management LLC increased 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. Finally, Northern Trust Corp increased its position in SpringWorks Therapeutics by 8.8% in the 4th quarter. Northern Trust Corp now owns 655,678 shares of the company's stock worth $23,690,000 after purchasing an additional 52,908 shares during the last quarter.

SpringWorks Therapeutics Trading Up 0.1%

NASDAQ:SWTX traded up $0.03 during mid-day trading on Friday, hitting $46.11. 7,025,072 shares of the company's stock traded hands, compared to its average volume of 2,099,792. The firm has a 50 day moving average of $43.95 and a two-hundred day moving average of $42.16. SpringWorks Therapeutics, Inc. has a 12 month low of $28.21 and a 12 month high of $62.00. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of -13.25 and a beta of 0.77.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported ($1.11) EPS for the quarter, missing the consensus estimate of ($0.81) by ($0.30). The firm had revenue of $49.09 million during the quarter, compared to analyst estimates 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, equities research analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Guggenheim reiterated a "neutral" rating and set a $47.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, May 12th. Barclays reiterated an "equal weight" rating and set a $47.00 price target (down previously from $63.00) on shares of SpringWorks Therapeutics in a research note on Monday, April 28th. Cowen downgraded SpringWorks Therapeutics to a "hold" rating in a research note on Tuesday, April 29th. HC Wainwright reiterated a "neutral" rating and set a $47.00 price target (down previously from $74.00) on shares of SpringWorks Therapeutics in a research note on Wednesday, April 30th. Finally, TD Cowen restated a "hold" rating and set a $47.00 target price (down previously from $66.00) on shares of SpringWorks Therapeutics in a research note on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $52.57.

Insider Buying and Selling at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $54.23, for a total value of $1,084,600.00. Following the completion of the transaction, the chief operating officer now owns 169,712 shares of the company's stock, valued at $9,203,481.76. This represents a 10.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Saqib Islam sold 49,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were 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 position. The disclosure for this sale can be found here. Insiders sold a total of 146,944 shares of company stock valued at $8,439,479 in the last quarter. 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.