Ally Bridge Group NY LLC Makes New Investment in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Ally Bridge Group NY LLC acquired a new stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) in the third quarter, HoldingsChannel.com reports. The fund acquired 227,700 shares of the company’s stock, valued at approximately $7,296,000. SpringWorks Therapeutics accounts for 3.9% of Ally Bridge Group NY LLC’s holdings, making the stock its 11th biggest position.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Duquesne Family Office LLC bought a new stake in SpringWorks Therapeutics during the 2nd quarter valued at $38,475,000. Maverick Capital Ltd. raised its holdings in shares of SpringWorks Therapeutics by 36.3% during the second quarter. Maverick Capital Ltd. now owns 2,600,524 shares of the company’s stock valued at $97,962,000 after purchasing an additional 691,894 shares during the last quarter. Principal Financial Group Inc. lifted its position in SpringWorks Therapeutics by 102.5% during the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after purchasing an additional 464,903 shares during the period. Jane Street Group LLC boosted its holdings in SpringWorks Therapeutics by 254.2% in the first quarter. Jane Street Group LLC now owns 580,938 shares of the company’s stock worth $28,594,000 after purchasing an additional 416,942 shares during the last quarter. Finally, Fiera Capital Corp grew its position in SpringWorks Therapeutics by 41.4% in the 2nd quarter. Fiera Capital Corp now owns 1,297,302 shares of the company’s stock worth $48,869,000 after purchasing an additional 380,027 shares during the period.

SpringWorks Therapeutics Trading Up 1.2 %

Shares of NASDAQ:SWTX opened at $41.73 on Thursday. The stock has a 50 day moving average of $32.92 and a 200 day moving average of $36.75. The company has a market cap of $3.10 billion, a PE ratio of -10.76 and a beta of 0.79. SpringWorks Therapeutics, Inc. has a 12-month low of $23.00 and a 12-month high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.03. The business had revenue of $49.10 million during the quarter, compared to analyst estimates of $53.28 million. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The company’s revenue was up 4810.0% on a year-over-year basis. During the same period in the prior year, the business posted ($1.27) earnings per share. Equities research analysts predict that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SWTX shares. Evercore ISI started coverage on SpringWorks Therapeutics in a report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price target on the stock. JPMorgan Chase & Co. raised their target price on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Wedbush reiterated an “outperform” rating and issued a $77.00 price objective on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. Finally, HC Wainwright cut their target price 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. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $67.00.

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.