The Manufacturers Life Insurance Company Acquires 122,128 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

The Manufacturers Life Insurance Company grew its position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX - Free Report) by 42.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 407,683 shares of the company's stock after acquiring an additional 122,128 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.55% of SpringWorks Therapeutics worth $14,730,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Huntington National Bank increased its stake in SpringWorks Therapeutics by 38.2% during the 4th quarter. Huntington National Bank now owns 694 shares of the company's stock valued at $25,000 after buying an additional 192 shares during the period. AlphaQuest LLC lifted its holdings in shares of 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 purchasing an additional 414 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in SpringWorks Therapeutics during the fourth quarter valued at about $45,000. KBC Group NV boosted its stake in SpringWorks Therapeutics by 59.1% in the 4th quarter. KBC Group NV now owns 2,634 shares of the company's stock worth $95,000 after purchasing an additional 978 shares during the period. Finally, US Bancorp DE boosted its position 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.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SWTX shares. Wedbush reaffirmed a "neutral" rating and set a $47.00 price objective (down from $81.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Cowen downgraded shares of SpringWorks Therapeutics to a "hold" rating in a report on Tuesday, April 29th. Evercore ISI lowered shares of SpringWorks Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Barclays reissued an "equal weight" rating and set a $47.00 target price (down from $63.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Finally, TD Cowen reaffirmed a "hold" rating and issued a $47.00 price target (down previously from $66.00) on shares of SpringWorks Therapeutics in a research report on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $52.57.

Insider Activity at SpringWorks Therapeutics

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

SpringWorks Therapeutics Stock Up 0.1 %

NASDAQ SWTX traded up $0.05 during trading on Wednesday, hitting $46.21. The company's stock had a trading volume of 7,567,902 shares, compared to its average volume of 1,961,643. The firm has a market cap of $3.46 billion, a P/E ratio of -13.28 and a beta of 0.77. SpringWorks Therapeutics, Inc. has a 52 week low of $28.21 and a 52 week high of $62.00. The firm has a 50 day moving average price of $44.83 and a 200 day moving average price of $41.33.

SpringWorks Therapeutics (NASDAQ:SWTX - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. The company had revenue of $61.55 million for the quarter, compared to the consensus estimate of $60.53 million. On average, equities analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

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.