Patient Square Capital LP Invests $3.37 Million in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Patient Square Capital LP purchased a new stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 93,137 shares of the company's stock, valued at approximately $3,365,000. SpringWorks Therapeutics accounts for approximately 1.3% of Patient Square Capital LP's portfolio, making the stock its 14th largest holding. Patient Square Capital LP owned approximately 0.13% of SpringWorks Therapeutics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SWTX. Boxer Capital Management LLC acquired a new position in shares of SpringWorks Therapeutics during the fourth quarter valued at about $123,620,000. Capital International Investors increased its stake in SpringWorks Therapeutics by 92.7% during the fourth 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 raised its holdings 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. Principal Financial Group Inc. lifted its position in shares of SpringWorks Therapeutics by 102.5% in the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company's stock worth $29,427,000 after acquiring an additional 464,903 shares during the period. Finally, Vanguard Group Inc. grew its holdings 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.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SWTX shares. Wedbush restated a "neutral" rating and set a $47.00 price objective (down from $81.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Guggenheim reiterated a "neutral" rating and set a $47.00 price target on shares of SpringWorks Therapeutics in a research note on Monday. TD Cowen restated a "hold" rating and issued a $47.00 price objective (down previously 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 target price (down from $74.00) on shares of SpringWorks Therapeutics in a research report on Wednesday, April 30th. Finally, Evercore ISI cut 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 given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $52.57.

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ:SWTX opened at $46.22 on Wednesday. The company's fifty day moving average is $44.16 and its 200-day moving average is $41.91. SpringWorks Therapeutics, Inc. has a 52 week low of $28.21 and a 52 week high of $62.00. The company has a market capitalization of $3.47 billion, a PE ratio of -13.28 and a beta of 0.77.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its quarterly 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 firm had revenue of $49.09 million for 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, analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current year.

Insider Activity

In other news, CEO Saqib Islam sold 29,328 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $60.30, for a total transaction of $1,768,478.40. Following the sale, the chief executive officer now owns 1,034,625 shares in the company, valued at approximately $62,387,887.50. This represents a 2.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bhavesh Ashar sold 1,016 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $61.19, for a total value of $62,169.04. Following the completion of the sale, the insider now owns 62,053 shares of the company's stock, valued at approximately $3,797,023.07. This trade represents a 1.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,016 shares of company stock worth $9,102,946. Insiders own 7.83% of the company's stock.

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.

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