ProShare Advisors LLC Acquires 5,503 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

ProShare Advisors LLC lifted its holdings in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 31.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,883 shares of the company's stock after purchasing an additional 5,503 shares during the quarter. ProShare Advisors LLC's holdings in SpringWorks Therapeutics were worth $827,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Huntington National Bank boosted its position in shares of 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 in the last quarter. AlphaQuest LLC boosted its position in shares of 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 in the last quarter. Barclays PLC boosted its position in shares of 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 in the last quarter. Virtus ETF Advisers LLC boosted its position in shares of 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 in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of SpringWorks Therapeutics by 2.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,013 shares of the company's stock worth $1,591,000 after acquiring an additional 931 shares in the last quarter.

Insider Buying and Selling at SpringWorks Therapeutics

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

Wall Street Analysts Forecast Growth

SWTX has been the topic of several analyst reports. Cowen lowered shares of SpringWorks Therapeutics to a "hold" rating in a research report on Tuesday, April 29th. Guggenheim reiterated a "neutral" rating and set a $47.00 price target on shares of SpringWorks Therapeutics in a report on Monday, May 12th. Barclays reiterated an "equal weight" rating and issued a $47.00 price target (down from $63.00) on shares of SpringWorks Therapeutics in a research note on Monday, April 28th. Evercore ISI lowered SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Finally, Wedbush restated a "neutral" rating and set a $47.00 price objective (down previously from $81.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $52.57.

SpringWorks Therapeutics Price Performance

SWTX stock traded up $0.03 during midday trading on Thursday, reaching $46.71. 1,426,696 shares of the stock were exchanged, compared to its average volume of 2,195,314. The stock has a market capitalization of $3.52 billion, a PE ratio of -13.42 and a beta of 0.77. SpringWorks Therapeutics, Inc. has a 52 week low of $28.21 and a 52 week high of $62.00. The company has a fifty day moving average price of $43.33 and a 200 day moving average price of $42.97.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported ($1.11) earnings per share 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 firm had revenue of $49.09 million for the quarter, compared to the consensus estimate of $64.19 million. As a group, analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share 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.