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

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Boxer Capital Management LLC bought a new position in shares of SpringWorks Therapeutics during the 4th quarter worth $123,620,000. Capital International Investors raised its holdings in shares of 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 in the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of SpringWorks Therapeutics by 24.2% during the fourth 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 in the last quarter. Vanguard Group Inc. increased its holdings in SpringWorks Therapeutics by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company's stock valued at $258,650,000 after buying an additional 445,593 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in SpringWorks Therapeutics during the fourth quarter worth $10,527,000.

Analyst Ratings Changes

Several research analysts have recently commented on SWTX shares. HC Wainwright reissued a "neutral" rating and issued a $47.00 price target (down from $74.00) on shares of SpringWorks Therapeutics in a research report on Wednesday, April 30th. Evercore ISI lowered shares of SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Wedbush restated a "neutral" rating and set a $47.00 price target (down previously from $81.00) on shares of SpringWorks Therapeutics in a research note on Monday, April 28th. Cowen cut 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 target price (down previously from $66.00) on shares of SpringWorks Therapeutics in a research note on Tuesday, April 29th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $52.57.

SpringWorks Therapeutics Stock Down 0.1%

Shares of SpringWorks Therapeutics stock traded down $0.04 on Wednesday, reaching $46.28. The company's stock had a trading volume of 3,718,094 shares, compared to its average volume of 2,123,630. The company has a market capitalization of $3.49 billion, a P/E ratio of -13.30 and a beta of 0.77. The stock has a 50-day moving average price of $43.79 and a 200-day moving average price of $42.46. SpringWorks Therapeutics, Inc. has a 52-week low of $28.21 and a 52-week high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported ($1.11) earnings per share 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 company had revenue of $49.09 million for the quarter, compared to analyst estimates of $64.19 million. Sell-side analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Bhavesh Ashar sold 1,016 shares of the business's stock in a transaction 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 sale, the insider now owns 62,053 shares in the company, valued at approximately $3,797,023.07. The trade was a 1.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Saqib Islam sold 29,328 shares of the stock in a transaction dated 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 directly owns 1,034,625 shares in the company, valued at $62,387,887.50. This represents a 2.76% 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 in the last quarter. Insiders own 7.83% of the company's stock.

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.