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

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

Several other large investors have also made changes to their positions in the business. Boxer Capital Management LLC acquired a new position in SpringWorks Therapeutics in the 4th quarter valued at approximately $123,620,000. Capital International Investors grew 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 grew its position in SpringWorks Therapeutics by 24.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company's stock worth $86,402,000 after acquiring an additional 465,494 shares during the last quarter. Vanguard Group Inc. lifted its holdings in SpringWorks Therapeutics by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company's stock worth $258,650,000 after buying an additional 445,593 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in SpringWorks Therapeutics during the 4th quarter worth $10,527,000.

Insider Transactions at SpringWorks Therapeutics

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

Analysts Set New Price Targets

Several research analysts have issued reports on SWTX shares. TD Cowen reissued a "hold" rating and issued a $47.00 price target (down previously from $66.00) on shares of SpringWorks Therapeutics in a research note on Tuesday, April 29th. 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 research note on Wednesday, April 30th. Guggenheim reissued a "neutral" rating and issued a $47.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, May 12th. Cowen downgraded SpringWorks Therapeutics to a "hold" rating in a research note on Tuesday, April 29th. Finally, Barclays reissued an "equal weight" rating and issued a $47.00 price target (down previously from $63.00) on shares of SpringWorks Therapeutics in a research note on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, SpringWorks Therapeutics has an average rating of "Hold" and a consensus price target of $52.57.

SpringWorks Therapeutics Trading Up 0.0%

Shares of NASDAQ SWTX traded up $0.01 during mid-day trading on Tuesday, hitting $46.49. The company had a trading volume of 1,948,351 shares, compared to its average volume of 2,173,563. The company has a market capitalization of $3.50 billion, a PE ratio of -13.36 and a beta of 0.77. The firm has a 50-day simple moving average of $43.49 and a two-hundred day simple moving average of $42.92. 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 posted 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 business had revenue of $49.09 million for the quarter, compared to the consensus estimate of $64.19 million. Sell-side analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal 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.