Assenagon Asset Management S.A. Invests $3.52 Million in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Assenagon Asset Management S.A. bought a new stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 79,640 shares of the company's stock, valued at approximately $3,515,000. Assenagon Asset Management S.A. owned 0.11% of SpringWorks Therapeutics at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rhumbline Advisers raised its position in SpringWorks Therapeutics by 2.3% in the fourth quarter. Rhumbline Advisers now owns 101,904 shares of the company's stock valued at $3,682,000 after purchasing an additional 2,251 shares during the period. State of New Jersey Common Pension Fund D raised its holdings in shares of SpringWorks Therapeutics by 19.3% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 55,343 shares of the company's stock valued at $2,000,000 after buying an additional 8,954 shares during the period. Principal Financial Group Inc. lifted its position in SpringWorks Therapeutics by 20.2% during the 4th quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company's stock worth $39,882,000 after acquiring an additional 185,413 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in SpringWorks Therapeutics in the 4th quarter worth approximately $45,000. Finally, Los Angeles Capital Management LLC grew its position in SpringWorks Therapeutics by 30.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 61,760 shares of the company's stock valued at $2,231,000 after acquiring an additional 14,548 shares in the last quarter.

Analyst Upgrades and Downgrades

SWTX has been the topic of several recent analyst reports. Wedbush reiterated a "neutral" rating and issued a $47.00 price target (down previously from $81.00) on shares of SpringWorks Therapeutics in a research note on Monday, April 28th. HC Wainwright reissued a "neutral" rating and set a $47.00 price target (down previously from $74.00) on shares of SpringWorks Therapeutics in a research report on Wednesday, April 30th. Barclays reaffirmed an "equal weight" rating and issued a $47.00 price target (down from $63.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. TD Cowen reissued a "hold" rating and set a $47.00 price objective (down from $66.00) on shares of SpringWorks Therapeutics in a report on Tuesday, April 29th. Finally, Guggenheim restated a "neutral" rating and set a $47.00 price objective on shares of SpringWorks Therapeutics in a research note on Monday, May 12th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $52.57.

SpringWorks Therapeutics Stock Up 0.2%

SWTX stock traded up $0.09 during mid-day trading on Monday, reaching $46.87. The company had a trading volume of 8,086,939 shares, compared to its average volume of 2,393,413. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $62.00. The stock has a market capitalization of $3.53 billion, a P/E ratio of -13.47 and a beta of 0.70. The stock's 50-day simple moving average is $44.06 and its two-hundred day simple moving average is $43.83.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last posted 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). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The firm had revenue of $49.09 million for the quarter, compared to analyst estimates of $64.19 million. On average, research analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current fiscal year.

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.