Sphera Funds Management LTD. Acquires Shares of 100,000 SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Sphera Funds Management LTD. bought a new position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 100,000 shares of the company's stock, valued at approximately $3,613,000. Sphera Funds Management LTD. owned approximately 0.13% of SpringWorks Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SWTX. Vanguard Group Inc. boosted its holdings in SpringWorks Therapeutics by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company's stock valued at $258,650,000 after purchasing an additional 445,593 shares during the last quarter. Boxer Capital Management LLC acquired a new position in SpringWorks Therapeutics in the 4th quarter valued at about $123,620,000. Pictet Asset Management Holding SA boosted 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 purchasing an additional 465,494 shares during the last quarter. Capital International Investors boosted its holdings in SpringWorks Therapeutics by 92.7% in the 4th quarter. Capital International Investors now owns 2,361,746 shares of the company's stock valued at $85,330,000 after purchasing an additional 1,136,079 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its holdings in SpringWorks Therapeutics by 0.5% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,499,134 shares of the company's stock valued at $54,164,000 after purchasing an additional 7,072 shares during the last quarter.

Insiders Place Their Bets

In other SpringWorks Therapeutics news, CEO Saqib Islam sold 49,000 shares of the stock in a transaction that occurred on 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 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 available at this link. Also, COO Badreddin Edris sold 20,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $54.23, for a total transaction of $1,084,600.00. Following the completion of the sale, the chief operating officer now directly owns 169,712 shares in the company, valued at approximately $9,203,481.76. This represents a 10.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,944 shares of company stock worth $8,439,479 in the last ninety days. 7.83% of the stock is owned by corporate insiders.

SpringWorks Therapeutics Stock Up 0.3%

SpringWorks Therapeutics stock traded up $0.16 during mid-day trading on Monday, reaching $46.27. 2,608,900 shares of the company's stock were exchanged, compared to its average volume of 2,107,714. The company has a market cap of $3.49 billion, a P/E ratio of -13.30 and a beta of 0.77. SpringWorks Therapeutics, Inc. has a twelve month low of $28.21 and a twelve month high of $62.00. The company has a fifty day moving average of $43.95 and a 200-day moving average of $42.32.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its earnings results on Friday, May 9th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.81) by ($0.30). The business had revenue of $49.09 million for the quarter, compared to analyst estimates of $64.19 million. SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. Equities research analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SWTX. Wedbush restated a "neutral" rating and issued a $47.00 price objective (down from $81.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. HC Wainwright restated a "neutral" rating and issued a $47.00 price objective (down from $74.00) on shares of SpringWorks Therapeutics in a report on Wednesday, April 30th. Evercore ISI lowered shares of SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Cowen lowered shares of SpringWorks Therapeutics to a "hold" rating in a report on Tuesday, April 29th. Finally, TD Cowen restated a "hold" rating and issued a $47.00 price objective (down from $66.00) on shares of SpringWorks Therapeutics in a report on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock presently 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.