Velan Capital Investment Management LP Acquires Shares of 185,520 SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Velan Capital Investment Management LP purchased a new position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 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 holdings, making the stock its 6th biggest holding. Velan Capital Investment Management LP owned about 0.25% of SpringWorks Therapeutics as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SWTX. Huntington National Bank increased its position in shares of SpringWorks Therapeutics by 38.2% during the fourth quarter. Huntington National Bank now owns 694 shares of the company's stock valued at $25,000 after purchasing an additional 192 shares during the period. AlphaQuest LLC increased its position in shares of SpringWorks Therapeutics by 70.2% during the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company's stock valued at $36,000 after purchasing an additional 414 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of SpringWorks Therapeutics during the fourth quarter valued at approximately $45,000. State of Wyoming increased its position 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 valued at $55,000 after purchasing an additional 433 shares during the period. Finally, KBC Group NV increased its position in shares of 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 period.

Insider Activity at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, CEO Saqib Islam sold 49,000 shares of SpringWorks Therapeutics stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 954,869 shares of the company's stock, valued at $51,792,094.56. The trade was a 4.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Badreddin Edris sold 20,000 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $54.23, for a total value of $1,084,600.00. Following the transaction, the chief operating officer now directly owns 169,712 shares of the company's stock, 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. 7.83% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SWTX has been the topic of a number of analyst reports. Wedbush reiterated a "neutral" rating and issued a $47.00 price target (down from $81.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. 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 report on Monday, April 28th. Cowen cut SpringWorks Therapeutics to a "hold" rating in a research report on Tuesday, April 29th. Evercore ISI cut SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Finally, TD Cowen reiterated a "hold" rating and issued a $47.00 price target (down from $66.00) on shares of SpringWorks Therapeutics in a research report on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $52.57.

SpringWorks Therapeutics Price Performance

SWTX stock traded up $0.21 during mid-day trading on Friday, reaching $46.48. The company had a trading volume of 5,929,377 shares, compared to its average volume of 2,167,815. The stock has a 50 day simple moving average of $43.57 and a two-hundred day simple moving average of $42.70. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of -13.36 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.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported ($1.11) EPS for the quarter, missing the consensus estimate 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 business had revenue of $49.09 million for the quarter, compared to the consensus estimate of $64.19 million. On average, equities analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current 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.