Price T Rowe Associates Inc. MD Cuts Stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Price T Rowe Associates Inc. MD decreased its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,274,786 shares of the company's stock after selling 241,632 shares during the quarter. Price T Rowe Associates Inc. MD owned 4.40% of SpringWorks Therapeutics worth $118,319,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SWTX. Huntington National Bank grew its position 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 purchasing an additional 192 shares in the last quarter. AlphaQuest LLC lifted its holdings in SpringWorks Therapeutics by 70.2% during 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 last quarter. Venturi Wealth Management LLC acquired a new stake in SpringWorks Therapeutics during the 4th quarter worth approximately $45,000. KBC Group NV grew its holdings in SpringWorks Therapeutics by 59.1% in the 4th quarter. KBC Group NV now owns 2,634 shares of the company's stock valued at $95,000 after buying an additional 978 shares in the last quarter. Finally, US Bancorp DE increased its position in SpringWorks Therapeutics by 56.0% during the 4th quarter. US Bancorp DE now owns 4,336 shares of the company's stock worth $157,000 after buying an additional 1,556 shares during the period.

Insider Buying and Selling at SpringWorks Therapeutics

In other news, Director Daniel Lynch sold 175,000 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.46, for a total value of $9,530,500.00. Following the completion of the transaction, the director now owns 130,944 shares in the company, valued at $7,131,210.24. The trade was a 57.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Badreddin Edris sold 30,000 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $53.13, for a total transaction of $1,593,900.00. Following the transaction, the chief operating officer now owns 189,712 shares in the company, valued at $10,079,398.56. This represents a 13.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 440,766 shares of company stock valued at $24,402,956. Corporate insiders own 7.83% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SWTX. Wedbush reaffirmed a "neutral" rating and set a $47.00 price target (down previously from $81.00) on shares of SpringWorks Therapeutics in a report on Monday. HC Wainwright reissued a "neutral" rating and set a $47.00 target price (down from $74.00) on shares of SpringWorks Therapeutics in a report on Wednesday. Guggenheim downgraded SpringWorks Therapeutics from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $77.00 to $47.00 in a research report on Monday. Evercore ISI lowered SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday. Finally, Cowen lowered shares of SpringWorks Therapeutics to a "hold" rating in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $52.57.

SpringWorks Therapeutics Stock Performance

NASDAQ:SWTX traded down $0.09 during mid-day trading on Thursday, reaching $46.21. The stock had a trading volume of 6,435,274 shares, compared to its average volume of 1,893,919. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $62.00. The stock has a market capitalization of $3.47 billion, a P/E ratio of -13.28 and a beta of 0.79. The firm has a 50 day moving average price of $45.49 and a two-hundred day moving average price of $40.82.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.38). The firm had revenue of $61.55 million for the quarter, compared to the consensus estimate of $60.53 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. Research analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share 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.