SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Shares Sold by Orbimed Advisors LLC

Orbimed Advisors LLC lowered its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 9.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,255,031 shares of the company's stock after selling 135,600 shares during the quarter. Orbimed Advisors LLC owned about 1.69% of SpringWorks Therapeutics worth $45,344,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in SpringWorks Therapeutics by 2.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,013 shares of the company's stock valued at $1,591,000 after buying an additional 931 shares during the last quarter. Integral Health Asset Management LLC acquired a new position in SpringWorks Therapeutics in the fourth quarter valued at about $3,613,000. Deutsche Bank AG lifted its position in SpringWorks Therapeutics by 47.5% in the fourth quarter. Deutsche Bank AG now owns 60,714 shares of the company's stock valued at $2,194,000 after buying an additional 19,540 shares during the last quarter. Duquesne Family Office LLC lifted its position in SpringWorks Therapeutics by 21.9% in the fourth quarter. Duquesne Family Office LLC now owns 859,694 shares of the company's stock valued at $31,061,000 after buying an additional 154,628 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in SpringWorks Therapeutics in the fourth quarter valued at about $3,099,000.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Evercore ISI cut shares of SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Wedbush reissued a "neutral" rating and set a $47.00 price target (down previously from $81.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Guggenheim reissued a "neutral" rating and set a $47.00 price target on shares of SpringWorks Therapeutics in a research report on Monday, May 12th. Cowen cut shares of SpringWorks Therapeutics to a "hold" rating in a research report on Tuesday, April 29th. Finally, HC Wainwright reissued a "neutral" rating and set a $47.00 price target (down previously from $74.00) on shares of SpringWorks Therapeutics in a research report on Wednesday, April 30th. 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.com, the stock currently has an average rating of "Hold" and an average target price of $52.57.

Insider Buying and Selling

In other SpringWorks Therapeutics news, Director Daniel Lynch sold 47,600 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $60.22, for a total value of $2,866,472.00. Following the transaction, the director now directly owns 82,944 shares in the company, valued at $4,994,887.68. This represents a 36.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $2,657,760.00. Following the completion of the transaction, the chief executive officer now owns 954,869 shares in the company, valued at $51,792,094.56. This represents a 4.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 146,944 shares of company stock worth $8,439,479. Company insiders own 7.83% of the company's stock.

SpringWorks Therapeutics Price Performance

Shares of SWTX stock traded up $0.03 during trading hours on Friday, reaching $46.11. 7,025,072 shares of the stock were exchanged, compared to its average volume of 2,105,694. The business's fifty day moving average is $43.95 and its two-hundred day moving average is $42.24. SpringWorks Therapeutics, Inc. has a 12-month low of $28.21 and a 12-month high of $62.00. The firm has a market capitalization of $3.46 billion, a P/E ratio of -13.25 and a beta of 0.77.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last released its earnings results 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 firm had revenue of $49.09 million for the quarter, compared to analysts' expectations of $64.19 million. As a group, equities research analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

SpringWorks Therapeutics 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.