Balyasny Asset Management L.P. Makes New $3.10 Million Investment in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Balyasny Asset Management L.P. bought a new stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 85,761 shares of the company's stock, valued at approximately $3,099,000. Balyasny Asset Management L.P. owned 0.12% of SpringWorks Therapeutics at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SWTX. Vanguard Group Inc. increased its holdings in shares of SpringWorks Therapeutics by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company's stock valued at $258,650,000 after purchasing an additional 445,593 shares during the period. Boxer Capital Management LLC purchased a new stake in SpringWorks Therapeutics in the fourth quarter valued at approximately $123,620,000. Pictet Asset Management Holding SA increased its holdings in 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 worth $86,402,000 after buying an additional 465,494 shares during the period. Capital International Investors raised its position in SpringWorks Therapeutics by 92.7% during the 4th quarter. Capital International Investors now owns 2,361,746 shares of the company's stock worth $85,330,000 after buying an additional 1,136,079 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its position in SpringWorks Therapeutics by 0.5% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,499,134 shares of the company's stock worth $54,164,000 after buying an additional 7,072 shares during the last quarter.

SpringWorks Therapeutics Stock Down 0.3%

Shares of NASDAQ:SWTX traded down $0.14 during trading on Thursday, reaching $46.08. 5,031,309 shares of the company's stock traded hands, compared to its average volume of 2,067,082. SpringWorks Therapeutics, Inc. has a fifty-two week low of $28.21 and a fifty-two week high of $62.00. The company has a 50-day simple moving average of $44.10 and a 200-day simple moving average of $41.94. The firm has a market cap of $3.46 billion, a PE ratio of -13.24 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 analysts' consensus estimates of ($0.81) by ($0.30). The business had revenue of $49.09 million for the quarter, compared to analysts' expectations of $64.19 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. On average, equities research analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on SWTX. Evercore ISI downgraded shares of SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Wedbush reaffirmed a "neutral" rating and issued a $47.00 price target (down from $81.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. HC Wainwright reiterated a "neutral" rating and set a $47.00 price objective (down previously from $74.00) on shares of SpringWorks Therapeutics in a research note on Wednesday, April 30th. Barclays reissued an "equal weight" rating and issued a $47.00 price objective (down previously from $63.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. Finally, TD Cowen restated a "hold" rating and issued a $47.00 target price (down previously from $66.00) on shares of SpringWorks Therapeutics in a research note on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $52.57.

Insider Activity

In related news, COO Badreddin Edris sold 20,000 shares of the stock in a transaction 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 directly owns 169,712 shares of the company's stock, valued at approximately $9,203,481.76. This represents a 10.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Saqib Islam sold 10,672 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $59.92, for a total transaction of $639,466.24. Following the completion of the sale, the chief executive officer now owns 1,063,953 shares of the company's stock, valued at $63,752,063.76. This trade represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 158,016 shares of company stock worth $9,102,946 over the last 90 days. 7.83% of the stock is currently owned by company insiders.

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.