Velan Capital Investment Management LP Takes $6.70 Million Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Velan Capital Investment Management LP acquired a new position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 185,520 shares of the company's stock, valued at approximately $6,703,000. SpringWorks Therapeutics comprises approximately 5.8% of Velan Capital Investment Management LP's investment portfolio, making the stock its 6th biggest position. Velan Capital Investment Management LP owned 0.25% of SpringWorks Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Boxer Capital Management LLC acquired a new stake in shares of SpringWorks Therapeutics in the fourth quarter valued at $123,620,000. Capital International Investors boosted its holdings in SpringWorks Therapeutics by 92.7% during the 4th quarter. Capital International Investors now owns 2,361,746 shares of the company's stock valued at $85,330,000 after acquiring an additional 1,136,079 shares during the period. Pictet Asset Management Holding SA grew its position in SpringWorks Therapeutics by 24.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company's stock valued at $86,402,000 after acquiring an additional 465,494 shares in the last quarter. Vanguard Group Inc. increased its stake in SpringWorks Therapeutics by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company's stock worth $258,650,000 after purchasing an additional 445,593 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of SpringWorks Therapeutics during the fourth quarter worth about $10,527,000.

Insider Buying and Selling at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, CEO Saqib Islam sold 29,328 shares of SpringWorks Therapeutics stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $60.30, for a total value of $1,768,478.40. Following the sale, the chief executive officer now owns 1,034,625 shares of the company's stock, valued at approximately $62,387,887.50. The trade was a 2.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Lynch sold 47,600 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $60.22, for a total value of $2,866,472.00. Following the transaction, the director now directly owns 82,944 shares of the company's stock, valued at approximately $4,994,887.68. This trade represents a 36.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,944 shares of company stock valued at $8,439,479. 7.83% of the stock is owned by company insiders.

SpringWorks Therapeutics Stock Down 0.2%

SWTX stock traded down $0.10 during trading on Wednesday, hitting $46.21. The company had a trading volume of 6,067,159 shares, compared to its average volume of 2,138,156. The firm has a 50-day moving average price of $43.69 and a 200-day moving average price of $42.49. The firm has a market cap of $3.48 billion, a PE ratio of -13.28 and a beta of 0.77. SpringWorks Therapeutics, Inc. has a 1-year low of $28.21 and a 1-year high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its earnings results on Friday, May 9th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.81) by ($0.30). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The company had revenue of $49.09 million during the quarter, compared to analyst estimates of $64.19 million. Sell-side analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Evercore ISI cut shares of SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Cowen lowered shares of SpringWorks Therapeutics to a "hold" rating in a research note on Tuesday, April 29th. TD Cowen reiterated 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 objective (down from $74.00) on shares of SpringWorks Therapeutics in a research report on Wednesday, April 30th. Finally, Wedbush restated a "neutral" rating and issued a $47.00 price objective (down from $81.00) on shares of SpringWorks Therapeutics in a 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's stock. Based on data from MarketBeat, SpringWorks Therapeutics currently has an average rating of "Hold" and an average price target of $52.57.

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.