Boxer Capital Management LLC Buys New Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Boxer Capital Management LLC purchased a new position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,421,541 shares of the company's stock, valued at approximately $123,620,000. SpringWorks Therapeutics makes up 10.4% of Boxer Capital Management LLC's investment portfolio, making the stock its 2nd biggest position. Boxer Capital Management LLC owned approximately 4.60% of SpringWorks Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SWTX. Barclays PLC raised its position in shares of SpringWorks Therapeutics by 60.4% in the third quarter. Barclays PLC now owns 155,676 shares of the company's stock valued at $4,987,000 after buying an additional 58,645 shares during the last quarter. Principal Financial Group Inc. raised its holdings in SpringWorks Therapeutics by 102.5% in the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company's stock valued at $29,427,000 after acquiring an additional 464,903 shares during the last quarter. Park Avenue Securities LLC purchased a new position in SpringWorks Therapeutics in the 4th quarter worth approximately $203,000. AMI Asset Management Corp acquired a new position in shares of SpringWorks Therapeutics during the 4th quarter worth approximately $1,438,000. Finally, SG Americas Securities LLC purchased a new stake in shares of SpringWorks Therapeutics in the fourth quarter valued at approximately $210,000.

SpringWorks Therapeutics Stock Performance

SWTX stock traded up $0.05 during trading on Wednesday, reaching $46.21. 3,437,614 shares of the company were exchanged, compared to its average volume of 1,946,966. SpringWorks Therapeutics, Inc. has a 52-week low of $28.21 and a 52-week high of $62.00. The company has a market cap of $3.46 billion, a P/E ratio of -13.28 and a beta of 0.77. The stock's 50 day moving average price is $44.83 and its 200 day moving average price is $41.33.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported ($1.04) EPS 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 analysts' expectations of $60.53 million. As a group, equities research analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current year.

Insiders Place Their Bets

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 30,000 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $53.13, for a total transaction of $1,593,900.00. Following the completion of the transaction, the chief operating officer now owns 189,712 shares of the company's stock, valued at approximately $10,079,398.56. This trade represents a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $2,657,760.00. Following the sale, the chief executive officer now 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 sold 440,766 shares of company stock worth $24,402,956. Insiders own 7.83% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Cowen cut 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 target price (down previously 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 from $81.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. TD Cowen reissued a "hold" rating and issued a $47.00 price objective (down previously 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 report on Monday, April 28th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $52.57.

About SpringWorks Therapeutics

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.