Assenagon Asset Management S.A. Takes $3.52 Million Position in SpringWorks Therapeutics (NASDAQ:SWTX)

Assenagon Asset Management S.A. bought a new position in SpringWorks Therapeutics (NASDAQ:SWTX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 79,640 shares of the company's stock, valued at approximately $3,515,000. Assenagon Asset Management S.A. owned about 0.11% of SpringWorks Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Huntington National Bank grew its holdings in SpringWorks Therapeutics by 38.2% in the 4th quarter. Huntington National Bank now owns 694 shares of the company's stock worth $25,000 after buying an additional 192 shares in the last quarter. AlphaQuest LLC boosted its position in SpringWorks Therapeutics by 70.2% during the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company's stock worth $36,000 after acquiring an additional 414 shares during the period. Venturi Wealth Management LLC acquired a new position in SpringWorks Therapeutics during the 4th quarter worth $45,000. State of Wyoming grew its stake in shares of SpringWorks Therapeutics by 39.5% in the fourth quarter. State of Wyoming now owns 1,530 shares of the company's stock worth $55,000 after purchasing an additional 433 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in shares of SpringWorks Therapeutics during the fourth quarter valued at $56,000.

Analyst Upgrades and Downgrades

SWTX has been the subject of several research analyst reports. Barclays reaffirmed 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. Cowen cut shares of SpringWorks Therapeutics to a "hold" rating in a report on Tuesday, April 29th. Wedbush reissued a "neutral" rating and set a $47.00 target price (down previously from $81.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. TD Cowen restated a "hold" rating and issued a $47.00 target price (down from $66.00) on shares of SpringWorks Therapeutics in a research report on Tuesday, April 29th. Finally, Guggenheim reiterated a "neutral" rating and set a $47.00 price target on shares of SpringWorks Therapeutics in a research report on Monday, May 12th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, SpringWorks Therapeutics presently has an average rating of "Hold" and an average price target of $52.57.

SpringWorks Therapeutics Price Performance

Shares of SWTX traded down $0.08 during trading hours on Thursday, hitting $46.78. 8,065,138 shares of the company were exchanged, compared to its average volume of 2,437,636. The company has a market capitalization of $3.52 billion, a PE ratio of -13.72 and a beta of 0.70. The firm has a fifty day simple moving average of $44.67 and a 200-day simple moving average of $43.91. SpringWorks Therapeutics has a one year low of $28.21 and a one year high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released 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). The company 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 115.60% and a negative return on equity of 51.10%. Sell-side analysts expect that SpringWorks Therapeutics will post -2.05 EPS for the current year.

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.