SG Americas Securities LLC Increases Stock Position in SpringWorks Therapeutics (NASDAQ:SWTX)

SG Americas Securities LLC raised its holdings in SpringWorks Therapeutics (NASDAQ:SWTX - Free Report) by 161.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,235 shares of the company's stock after purchasing an additional 9,409 shares during the quarter. SG Americas Securities LLC's holdings in SpringWorks Therapeutics were worth $672,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Huntington National Bank increased its stake in shares of SpringWorks Therapeutics by 38.2% during the fourth quarter. Huntington National Bank now owns 694 shares of the company's stock worth $25,000 after acquiring an additional 192 shares during the period. AlphaQuest LLC increased its stake in shares of SpringWorks Therapeutics by 70.2% during the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company's stock worth $36,000 after acquiring an additional 414 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of SpringWorks Therapeutics during the fourth quarter worth about $45,000. State of Wyoming increased its stake in shares of SpringWorks Therapeutics by 39.5% during the fourth quarter. State of Wyoming now owns 1,530 shares of the company's stock worth $55,000 after acquiring an additional 433 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new position in shares of SpringWorks Therapeutics during the fourth quarter worth about $56,000.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SWTX. HC Wainwright reiterated a "neutral" rating and set a $47.00 price target (down from $74.00) on shares of SpringWorks Therapeutics in a research note on Wednesday, April 30th. TD Cowen reiterated a "hold" rating and set a $47.00 price target (down from $66.00) on shares of SpringWorks Therapeutics in a research note on Tuesday, April 29th. Evercore ISI lowered shares of SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Cowen lowered shares of SpringWorks Therapeutics to a "hold" rating in a research note on Tuesday, April 29th. Finally, Barclays restated an "equal weight" rating and set a $47.00 target price (down from $63.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, SpringWorks Therapeutics presently has an average rating of "Hold" and a consensus price target of $52.57.

SpringWorks Therapeutics Stock Performance

SWTX traded up $0.18 on Friday, hitting $46.96. 10,429,315 shares of the company were exchanged, compared to its average volume of 2,482,989. The business's fifty day moving average is $45.13 and its 200 day moving average is $43.98. SpringWorks Therapeutics has a fifty-two week low of $28.21 and a fifty-two week high of $62.00. The firm has a market capitalization of $3.54 billion, a P/E ratio of -13.77 and a beta of 0.70.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last issued 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). SpringWorks Therapeutics had a negative return on equity of 51.10% and a negative net margin of 115.60%. The company had revenue of $49.09 million for the quarter, compared to analyst estimates of $64.19 million. Analysts forecast that SpringWorks Therapeutics will post -2.05 EPS for the current fiscal year.

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.