FNY Investment Advisers LLC Invests $466,000 in SpringWorks Therapeutics (NASDAQ:SWTX)

FNY Investment Advisers LLC bought a new position in shares of 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 (SEC). The fund bought 10,575 shares of the company's stock, valued at approximately $466,000.

Several other institutional investors have also recently added to or reduced their stakes in SWTX. Los Angeles Capital Management LLC lifted its stake 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 buying an additional 14,548 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of SpringWorks Therapeutics by 93.6% during the fourth quarter. Schroder Investment Management Group now owns 168,209 shares of the company's stock worth $6,113,000 after purchasing an additional 81,314 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of SpringWorks Therapeutics by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company's stock worth $258,650,000 after purchasing an additional 445,593 shares during the last quarter. BIT Capital GmbH raised its stake in shares of SpringWorks Therapeutics by 18.7% during the fourth quarter. BIT Capital GmbH now owns 53,539 shares of the company's stock worth $1,934,000 after purchasing an additional 8,429 shares during the last quarter. Finally, Platinum Investment Management Ltd. acquired a new position in SpringWorks Therapeutics during the fourth quarter worth $1,694,000.

Analyst Ratings Changes

Several analysts have weighed in on the company. Cowen lowered SpringWorks Therapeutics to a "hold" rating in a report on Tuesday, April 29th. Guggenheim restated a "neutral" rating and issued a $47.00 price objective on shares of SpringWorks Therapeutics in a research report on Monday, May 12th. Barclays restated an "equal weight" rating and issued a $47.00 price objective (down from $63.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. HC Wainwright restated a "neutral" rating and issued a $47.00 price objective (down from $74.00) on shares of SpringWorks Therapeutics in a research report on Wednesday, April 30th. Finally, TD Cowen restated a "hold" rating and issued a $47.00 price objective (down from $66.00) on shares of SpringWorks Therapeutics in a research report on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $52.57.

SpringWorks Therapeutics Stock Performance

NASDAQ SWTX traded down $0.08 during trading hours on Thursday, hitting $46.78. 8,065,138 shares of the company's stock were exchanged, compared to its average volume of 2,437,636. The business's 50 day moving average is $44.67 and its 200-day moving average is $43.91. SpringWorks Therapeutics has a 12-month low of $28.21 and a 12-month high of $62.00. The firm has a market capitalization of $3.52 billion, a P/E ratio of -13.72 and a beta of 0.70.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its earnings results on Friday, May 9th. The company reported ($1.11) earnings per share for the quarter, missing the consensus estimate 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 return on equity of 51.10% and a negative net margin of 115.60%. As a group, equities research analysts anticipate that SpringWorks Therapeutics 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.