Deep Track Capital LP Sells 383,144 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Deep Track Capital LP trimmed its position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 10.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,460,756 shares of the company's stock after selling 383,144 shares during the quarter. SpringWorks Therapeutics makes up 4.7% of Deep Track Capital LP's holdings, making the stock its 6th biggest holding. Deep Track Capital LP owned approximately 4.65% of SpringWorks Therapeutics worth $125,037,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SWTX. Vanguard Group Inc. boosted its stake in shares of SpringWorks Therapeutics by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company's stock worth $258,650,000 after buying an additional 445,593 shares during the last quarter. Boxer Capital Management LLC bought a new stake in shares of SpringWorks Therapeutics in the fourth quarter valued at approximately $123,620,000. Pictet Asset Management Holding SA lifted its stake 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 valued at $86,402,000 after buying an additional 465,494 shares in 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 worth $85,330,000 after buying an additional 1,136,079 shares during the period. Finally, ArrowMark Colorado Holdings LLC grew its stake 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 buying an additional 7,072 shares in the last quarter.

SpringWorks Therapeutics Price Performance

SpringWorks Therapeutics stock traded up $0.06 during trading hours on Friday, hitting $46.26. 3,763,829 shares of the stock traded hands, compared to its average volume of 1,992,109. The firm's 50 day moving average price is $44.35 and its 200-day moving average price is $41.58. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of -13.29 and a beta of 0.77. SpringWorks Therapeutics, Inc. has a 1 year low of $28.21 and a 1 year high of $62.00.

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

Insider Buying and Selling

In related news, Director Daniel Lynch sold 175,000 shares of the company's stock in a transaction dated 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 sale, the director now directly owns 130,944 shares of the company's stock, valued at $7,131,210.24. This represents a 57.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Saqib Islam sold 48,000 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $53.30, for a total value of $2,558,400.00. Following the sale, the chief executive officer now directly owns 1,002,502 shares of the company's stock, valued at approximately $53,433,356.60. This represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 440,766 shares of company stock worth $24,402,956. Insiders own 7.83% of the company's stock.

Analyst Ratings Changes

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