Palisades Investment Partners LLC Buys 12,154 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Palisades Investment Partners LLC grew its position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 134,445 shares of the company's stock after purchasing an additional 12,154 shares during the quarter. SpringWorks Therapeutics makes up approximately 2.0% of Palisades Investment Partners LLC's portfolio, making the stock its 20th largest holding. Palisades Investment Partners LLC owned 0.18% of SpringWorks Therapeutics worth $4,857,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Boxer Capital Management LLC bought a new stake in shares of SpringWorks Therapeutics during the 4th quarter worth $123,620,000. Capital International Investors lifted its position in SpringWorks Therapeutics by 92.7% during the 4th quarter. Capital International Investors now owns 2,361,746 shares of the company's stock worth $85,330,000 after acquiring an additional 1,136,079 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in SpringWorks Therapeutics by 24.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company's stock valued at $86,402,000 after acquiring an additional 465,494 shares during the period. Vanguard Group Inc. grew its position in shares of SpringWorks Therapeutics by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company's stock valued at $258,650,000 after purchasing an additional 445,593 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of SpringWorks Therapeutics in the fourth quarter valued at about $10,527,000.

Analyst Ratings Changes

Several research firms recently weighed in on SWTX. Evercore ISI cut SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. TD Cowen reaffirmed a "hold" rating and issued a $47.00 price target (down from $66.00) on shares of SpringWorks Therapeutics in a research report on Tuesday, April 29th. HC Wainwright reissued 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. Guggenheim restated a "neutral" rating and issued a $47.00 price objective on shares of SpringWorks Therapeutics in a research note on Monday, May 12th. Finally, Cowen lowered shares of SpringWorks Therapeutics to a "hold" rating in a research report on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $52.57.

SpringWorks Therapeutics Stock Down 0.2%

SpringWorks Therapeutics stock opened at $46.21 on Thursday. The business has a 50 day moving average price of $43.69 and a two-hundred day moving average price of $42.49. SpringWorks Therapeutics, Inc. has a 12 month low of $28.21 and a 12 month high of $62.00. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of -13.28 and a beta of 0.77.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $49.09 million for the quarter, compared to the consensus estimate of $64.19 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. On average, analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Insider Buying and Selling at SpringWorks Therapeutics

In related news, CEO Saqib Islam sold 49,000 shares of SpringWorks Therapeutics stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $54.24, for a total transaction of $2,657,760.00. Following the completion of the transaction, the chief executive officer now directly owns 954,869 shares of the company's stock, valued at $51,792,094.56. This trade represents a 4.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Badreddin Edris sold 20,000 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $54.23, for a total transaction of $1,084,600.00. Following the completion of the transaction, the chief operating officer now owns 169,712 shares in the company, valued at approximately $9,203,481.76. This trade represents a 10.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.83% of the company's stock.

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.

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