Bank of America Corp DE Sells 444,322 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Bank of America Corp DE reduced its position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 51.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 416,888 shares of the company's stock after selling 444,322 shares during the period. Bank of America Corp DE owned approximately 0.56% of SpringWorks Therapeutics worth $15,062,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SWTX. Huntington National Bank boosted its holdings 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 buying an additional 192 shares in the last quarter. AlphaQuest LLC raised its holdings in SpringWorks Therapeutics by 70.2% during the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company's stock valued at $36,000 after acquiring an additional 414 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of SpringWorks Therapeutics during the 4th quarter valued at $45,000. KBC Group NV lifted its position in SpringWorks Therapeutics by 59.1% during the fourth quarter. KBC Group NV now owns 2,634 shares of the company's stock valued at $95,000 after purchasing an additional 978 shares during the last quarter. Finally, US Bancorp DE lifted its position in SpringWorks Therapeutics by 56.0% in the 4th quarter. US Bancorp DE now owns 4,336 shares of the company's stock worth $157,000 after buying an additional 1,556 shares during the last quarter.

SpringWorks Therapeutics Price Performance

SWTX stock traded up $0.21 on Friday, reaching $46.48. 5,929,377 shares of the company traded hands, compared to its average volume of 2,173,976. The firm has a fifty day simple moving average of $43.57 and a 200-day simple moving average of $42.70. The company has a market cap of $3.50 billion, a P/E ratio of -13.36 and a beta of 0.77. 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 issued its quarterly earnings data 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 business had revenue of $49.09 million during the quarter, compared to the consensus estimate of $64.19 million. SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. On average, sell-side analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current year.

Insider Transactions at SpringWorks Therapeutics

In other news, CEO Saqib Islam sold 49,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $54.24, for a total transaction of $2,657,760.00. Following the completion of the sale, the chief executive officer now owns 954,869 shares in the company, valued at approximately $51,792,094.56. This represents a 4.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Badreddin Edris sold 20,000 shares of the company's stock in a transaction on 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 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 disclosure for this sale can be found here. Company insiders own 7.83% of the company's stock.

Analyst Ratings Changes

SWTX has been the topic of a number of recent analyst reports. 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 report on Monday, April 28th. TD Cowen reiterated a "hold" rating and issued a $47.00 price objective (down from $66.00) on shares of SpringWorks Therapeutics in a research report on Tuesday, April 29th. HC Wainwright reaffirmed 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. Wedbush reissued a "neutral" rating and set a $47.00 price objective (down from $81.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Finally, Guggenheim reiterated a "neutral" rating and set a $47.00 price target on shares of SpringWorks Therapeutics in a research report on Monday, May 12th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $52.57.

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.