SpringWorks Therapeutics (NASDAQ:SWTX) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in shares of SpringWorks Therapeutics (NASDAQ:SWTX - Free Report) by 3.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,064,109 shares of the company's stock after selling 39,749 shares during the period. Principal Financial Group Inc. owned about 1.42% of SpringWorks Therapeutics worth $46,959,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SWTX. CIBRA Capital Ltd acquired a new stake in shares of SpringWorks Therapeutics in the first quarter worth $1,657,000. Allspring Global Investments Holdings LLC bought a new position in SpringWorks Therapeutics during the first quarter valued at about $208,000. AMI Asset Management Corp boosted its holdings in SpringWorks Therapeutics by 27.3% during the first quarter. AMI Asset Management Corp now owns 50,640 shares of the company's stock valued at $2,235,000 after purchasing an additional 10,849 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in SpringWorks Therapeutics by 7.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 13,526 shares of the company's stock valued at $597,000 after purchasing an additional 967 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in shares of SpringWorks Therapeutics in the 1st quarter worth approximately $466,000.

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ SWTX remained flat at $46.99 during midday trading on Tuesday. The stock's 50-day moving average is $46.60 and its 200-day moving average is $44.65. The stock has a market cap of $3.54 billion, a P/E ratio of -13.78 and a beta of 0.68. 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 posted 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 company had revenue of $49.09 million for the quarter, compared to analysts' expectations of $64.19 million. SpringWorks Therapeutics had a negative net margin of 115.60% and a negative return on equity of 51.10%. On average, equities research analysts expect that SpringWorks Therapeutics will post -2.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SWTX. Barclays reiterated an "equal weight" rating and set a $47.00 target price (down previously from $63.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Cowen downgraded shares of SpringWorks Therapeutics to a "hold" rating in a research note on Tuesday, April 29th. Guggenheim reissued a "neutral" rating and issued a $47.00 price target on shares of SpringWorks Therapeutics in a report on Monday, May 12th. Evercore ISI cut shares of SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Finally, HC Wainwright restated a "neutral" rating and issued a $47.00 target price (down previously from $74.00) on shares of SpringWorks Therapeutics in a research report on Wednesday, April 30th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average 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.