Northern Trust Corp Has $23.69 Million Stock Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Northern Trust Corp lifted its holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 8.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 655,678 shares of the company's stock after purchasing an additional 52,908 shares during the period. Northern Trust Corp owned about 0.88% of SpringWorks Therapeutics worth $23,690,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Huntington National Bank grew its holdings in shares of SpringWorks Therapeutics by 38.2% in the 4th quarter. Huntington National Bank now owns 694 shares of the company's stock worth $25,000 after acquiring an additional 192 shares during the last quarter. AlphaQuest LLC boosted its stake in SpringWorks Therapeutics by 70.2% in the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company's stock worth $36,000 after purchasing an additional 414 shares during the period. Venturi Wealth Management LLC purchased a new position in SpringWorks Therapeutics during the 4th quarter worth approximately $45,000. KBC Group NV raised its stake in SpringWorks Therapeutics by 59.1% during the 4th 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. Finally, US Bancorp DE lifted its holdings in shares of SpringWorks Therapeutics by 56.0% in the fourth quarter. US Bancorp DE now owns 4,336 shares of the company's stock valued at $157,000 after purchasing an additional 1,556 shares in the last quarter.

Insider Buying and Selling

In related 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 sale, the chief executive officer now owns 954,869 shares of the company's stock, valued at $51,792,094.56. The trade was a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Bhavesh Ashar sold 1,016 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $61.19, for a total value of $62,169.04. Following the transaction, the insider now owns 62,053 shares of the company's stock, valued at $3,797,023.07. This trade represents a 1.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,944 shares of company stock valued at $8,439,479 over the last three months. 7.83% of the stock is owned by corporate insiders.

SpringWorks Therapeutics Stock Up 0.1%

Shares of NASDAQ:SWTX traded up $0.03 on Friday, reaching $46.11. The company had a trading volume of 7,025,072 shares, compared to its average volume of 2,092,668. The stock has a 50-day moving average price of $44.05 and a 200 day moving average price of $42.05. SpringWorks Therapeutics, Inc. has a twelve month low of $28.21 and a twelve month high of $62.00. The stock has a market capitalization of $3.46 billion, a P/E ratio of -13.25 and a beta of 0.77.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported ($1.11) EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $64.19 million. On average, sell-side analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Evercore ISI lowered SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. TD Cowen reaffirmed a "hold" rating and issued a $47.00 price target (down from $66.00) on shares of SpringWorks Therapeutics in a research note on Tuesday, April 29th. HC Wainwright reiterated a "neutral" rating and set a $47.00 price objective (down from $74.00) on shares of SpringWorks Therapeutics in a report on Wednesday, April 30th. Barclays restated an "equal weight" rating and issued a $47.00 target price (down previously from $63.00) on shares of SpringWorks Therapeutics in a research note on Monday, April 28th. Finally, Wedbush reaffirmed a "neutral" rating and set a $47.00 price target (down from $81.00) on shares of SpringWorks Therapeutics in a research note on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus 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.