Zimmer Partners LP Buys New Shares in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Zimmer Partners LP bought a new stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 142,300 shares of the company's stock, valued at approximately $5,141,000. Zimmer Partners LP owned 0.19% of SpringWorks Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SWTX. Huntington National Bank lifted its holdings in SpringWorks Therapeutics by 38.2% in the fourth quarter. Huntington National Bank now owns 694 shares of the company's stock valued at $25,000 after buying an additional 192 shares during the period. AlphaQuest LLC lifted its holdings in SpringWorks Therapeutics by 70.2% in the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company's stock valued at $36,000 after buying an additional 414 shares during the period. Venturi Wealth Management LLC acquired a new position in SpringWorks Therapeutics in the fourth quarter valued at $45,000. State of Wyoming lifted its holdings in SpringWorks Therapeutics by 39.5% in the fourth quarter. State of Wyoming now owns 1,530 shares of the company's stock valued at $55,000 after buying an additional 433 shares during the period. Finally, KBC Group NV increased its stake in SpringWorks Therapeutics by 59.1% in 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 in the last quarter.

Insider Transactions 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 shares were sold at an average price of $54.24, for a total value of $2,657,760.00. Following the completion of the sale, the chief executive officer now directly owns 954,869 shares of the company's stock, 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 the SEC website. Also, insider Bhavesh Ashar sold 1,016 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $61.19, for a total transaction of $62,169.04. Following the completion of the sale, the insider now directly owns 62,053 shares of the company's stock, valued at $3,797,023.07. The trade was a 1.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 146,944 shares of company stock valued at $8,439,479 over the last three months. Corporate insiders own 7.83% of the company's stock.

SpringWorks Therapeutics Price Performance

NASDAQ:SWTX opened at $46.27 on Tuesday. The firm has a 50-day moving average of $43.86 and a 200-day moving average of $42.43. The company has a market cap of $3.49 billion, a PE ratio of -13.30 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 posted 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). The business had revenue of $49.09 million for 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, equities research analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SWTX. Wedbush reaffirmed a "neutral" rating and issued a $47.00 price target (down from $81.00) on shares of SpringWorks Therapeutics in a research note on Monday, April 28th. Guggenheim reaffirmed a "neutral" rating and issued a $47.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, May 12th. HC Wainwright reaffirmed a "neutral" rating and issued a $47.00 price target (down from $74.00) on shares of SpringWorks Therapeutics in a research note on Wednesday, April 30th. Cowen downgraded shares of SpringWorks Therapeutics to a "hold" rating in a research note on Tuesday, April 29th. Finally, Evercore ISI downgraded shares of SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target 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.

Want to see what other hedge funds are holding SWTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.