FNY Investment Advisers LLC Purchases New Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

FNY Investment Advisers LLC purchased a new stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 10,575 shares of the company's stock, valued at approximately $466,000.

Other institutional investors also recently modified their holdings of the company. Huntington National Bank increased its holdings in SpringWorks Therapeutics by 38.2% during the 4th quarter. Huntington National Bank now owns 694 shares of the company's stock worth $25,000 after acquiring an additional 192 shares during the period. AlphaQuest LLC increased its holdings 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. State of Wyoming increased its holdings in SpringWorks Therapeutics by 39.5% during the 4th quarter. State of Wyoming now owns 1,530 shares of the company's stock worth $55,000 after acquiring an additional 433 shares during the period. Barclays PLC increased its holdings in SpringWorks Therapeutics by 0.3% during the 4th quarter. Barclays PLC now owns 156,123 shares of the company's stock worth $5,641,000 after acquiring an additional 447 shares during the period. Finally, Virtus ETF Advisers LLC increased its holdings in SpringWorks Therapeutics by 7.4% during the 4th quarter. Virtus ETF Advisers LLC now owns 9,037 shares of the company's stock worth $327,000 after acquiring an additional 622 shares during the period.

SpringWorks Therapeutics Price Performance

Shares of NASDAQ:SWTX opened at $46.78 on Monday. The company's fifty day moving average price is $44.06 and its 200-day moving average price is $43.83. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of -13.44 and a beta of 0.70. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported ($1.11) EPS for the quarter, missing analysts' consensus estimates of ($0.81) by ($0.30). SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. The company had revenue of $49.09 million during the quarter, compared to the consensus estimate of $64.19 million. As a group, equities research analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on SWTX. Guggenheim reaffirmed a "neutral" rating and set a $47.00 target price on shares of SpringWorks Therapeutics in a report on Monday, May 12th. Evercore ISI lowered shares of SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Cowen lowered shares of SpringWorks Therapeutics to a "hold" rating in a report on Tuesday, April 29th. Wedbush reissued a "neutral" rating and issued a $47.00 price target (down previously from $81.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. Finally, HC Wainwright reissued a "neutral" rating and issued a $47.00 price target (down previously from $74.00) on shares of SpringWorks Therapeutics in a report on Wednesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $52.57.

SpringWorks Therapeutics Company 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.

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