Orbimed Advisors LLC Cuts Stock Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Orbimed Advisors LLC cut its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,255,031 shares of the company's stock after selling 135,600 shares during the quarter. Orbimed Advisors LLC owned 1.69% of SpringWorks Therapeutics worth $45,344,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Huntington National Bank increased its position in shares of SpringWorks Therapeutics by 38.2% during the fourth quarter. Huntington National Bank now owns 694 shares of the company's stock valued at $25,000 after acquiring an additional 192 shares during the last quarter. AlphaQuest LLC boosted its stake in SpringWorks Therapeutics by 70.2% during the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company's stock valued at $36,000 after buying an additional 414 shares during the period. Venturi Wealth Management LLC bought a new stake in SpringWorks Therapeutics during the fourth quarter worth about $45,000. KBC Group NV increased its holdings in shares of SpringWorks Therapeutics by 59.1% in the fourth quarter. KBC Group NV now owns 2,634 shares of the company's stock worth $95,000 after buying an additional 978 shares during the period. Finally, US Bancorp DE increased its holdings in shares of SpringWorks Therapeutics by 56.0% in the fourth 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.

SpringWorks Therapeutics Price Performance

NASDAQ:SWTX traded up $0.03 during mid-day trading on Friday, reaching $46.11. 7,025,072 shares of the company's stock traded hands, compared to its average volume of 2,099,792. SpringWorks Therapeutics, Inc. has a 12-month low of $28.21 and a 12-month high of $62.00. The company has a 50 day moving average price of $43.95 and a 200-day moving average price of $42.16. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of -13.25 and a beta of 0.77.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $64.19 million. As a group, analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current year.

Wall Street Analysts Forecast Growth

SWTX has been the topic of several analyst reports. Evercore ISI downgraded SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. HC Wainwright reiterated a "neutral" rating and issued a $47.00 price objective (down previously from $74.00) on shares of SpringWorks Therapeutics in a report on Wednesday, April 30th. Barclays restated an "equal weight" rating and set a $47.00 price target (down previously from $63.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. TD Cowen restated a "hold" rating and set a $47.00 price target (down previously from $66.00) on shares of SpringWorks Therapeutics in a report on Tuesday, April 29th. Finally, Wedbush restated 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, April 28th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, SpringWorks Therapeutics has an average rating of "Hold" and an average price target of $52.57.

Insider Transactions at SpringWorks Therapeutics

In other news, COO Badreddin Edris sold 20,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $54.23, for a total value of $1,084,600.00. Following the completion of the transaction, the chief operating officer now owns 169,712 shares of the company's stock, valued at approximately $9,203,481.76. This represents a 10.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bhavesh Ashar sold 1,016 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 62,053 shares of the company's stock, valued at $3,797,023.07. This represents a 1.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,944 shares of company stock valued at $8,439,479. Corporate insiders own 7.83% of the company's stock.

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.