Eagle Asset Management Inc. Lowers Stock Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Eagle Asset Management Inc. trimmed its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 16.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 273,479 shares of the company’s stock after selling 54,366 shares during the period. Eagle Asset Management Inc.’s holdings in SpringWorks Therapeutics were worth $9,296,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in SpringWorks Therapeutics by 48.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company’s stock valued at $202,318,000 after purchasing an additional 1,333,892 shares during the period. Vanguard Group Inc. raised its holdings in shares of SpringWorks Therapeutics by 8.2% in the 1st quarter. Vanguard Group Inc. now owns 6,529,325 shares of the company’s stock valued at $321,373,000 after buying an additional 492,783 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in SpringWorks Therapeutics by 16.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 758,712 shares of the company’s stock worth $28,581,000 after acquiring an additional 109,865 shares in the last quarter. Seven Eight Capital LP purchased a new position in SpringWorks Therapeutics during the 2nd quarter valued at about $1,854,000. Finally, Los Angeles Capital Management LLC grew its position in SpringWorks Therapeutics by 238.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company’s stock valued at $1,513,000 after acquiring an additional 33,255 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. HC Wainwright decreased their price target on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Wedbush restated an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. Finally, Evercore ISI initiated coverage on SpringWorks Therapeutics in a research note on Wednesday. They issued an “outperform” rating and a $60.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $67.00.

SpringWorks Therapeutics Stock Up 7.5 %

NASDAQ SWTX opened at $39.02 on Friday. SpringWorks Therapeutics, Inc. has a 52 week low of $20.19 and a 52 week high of $53.92. The firm has a 50 day moving average of $32.60 and a two-hundred day moving average of $36.78. The stock has a market capitalization of $2.90 billion, a PE ratio of -10.06 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.03. The business had revenue of $49.10 million for the quarter, compared to analyst estimates of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The business’s quarterly revenue was up 4810.0% on a year-over-year basis. During the same quarter last year, the company earned ($1.27) EPS. On average, equities research analysts expect that SpringWorks Therapeutics, Inc. will post -3.14 earnings per share for the current fiscal 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.