Northern Trust Corp Buys 52,908 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Northern Trust Corp lifted its holdings in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 8.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 655,678 shares of the company's stock after acquiring an additional 52,908 shares during the period. Northern Trust Corp owned approximately 0.88% of SpringWorks Therapeutics worth $23,690,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SWTX. Capital International Investors lifted its holdings in shares of SpringWorks Therapeutics by 92.7% during the 4th quarter. Capital International Investors now owns 2,361,746 shares of the company's stock worth $85,330,000 after acquiring an additional 1,136,079 shares during the period. Pictet Asset Management Holding SA increased its position in shares of SpringWorks Therapeutics by 24.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company's stock worth $86,402,000 after purchasing an additional 465,494 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of SpringWorks Therapeutics by 102.5% during the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company's stock worth $29,427,000 after purchasing an additional 464,903 shares in the last quarter. Vanguard Group Inc. increased its position in shares of SpringWorks Therapeutics by 6.6% during the 4th 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 in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of SpringWorks Therapeutics during the 4th quarter worth about $10,527,000.

Insider Activity

In related news, insider Bhavesh Ashar sold 1,016 shares of SpringWorks Therapeutics stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.19, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $54.23, for a total transaction of $1,084,600.00. Following the transaction, the chief operating officer now directly owns 169,712 shares in the company, valued at $9,203,481.76. The trade was a 10.54% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,944 shares of company stock valued at $8,439,479. 7.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SWTX. Evercore ISI cut shares of SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Wedbush reiterated a "neutral" rating and set a $47.00 target price (down previously from $81.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Barclays reiterated an "equal weight" rating and set a $47.00 target price (down previously from $63.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Guggenheim restated a "neutral" rating and issued a $47.00 price objective on shares of SpringWorks Therapeutics in a research report on Monday, May 12th. Finally, HC Wainwright restated a "neutral" rating and issued a $47.00 price objective (down previously from $74.00) on shares of SpringWorks Therapeutics in a research report on Wednesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $52.57.

SpringWorks Therapeutics Price Performance

Shares of NASDAQ SWTX traded up $0.03 during mid-day trading on Friday, hitting $46.11. The company's stock had a trading volume of 7,025,072 shares, compared to its average volume of 2,105,694. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of -13.25 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. The company's fifty day simple moving average is $43.95 and its 200-day simple moving average is $42.32.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported ($1.11) earnings per share (EPS) 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 net margin of 134.73% and a negative return on equity of 46.74%. On average, sell-side analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current year.

SpringWorks Therapeutics Company 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.