Fiera Capital Corp Reduces Stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Fiera Capital Corp lessened its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,219,189 shares of the company’s stock after selling 38,775 shares during the period. Fiera Capital Corp owned 1.64% of SpringWorks Therapeutics worth $44,049,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in SpringWorks Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock worth $87,000 after purchasing an additional 474 shares during the period. KBC Group NV raised its position in shares of SpringWorks Therapeutics by 59.1% during the 4th quarter. KBC Group NV now owns 2,634 shares of the company’s stock valued at $95,000 after buying an additional 978 shares during the period. Quantbot Technologies LP purchased a new stake in shares of SpringWorks Therapeutics during the 3rd quarter valued at approximately $147,000. Quarry LP lifted its holdings in SpringWorks Therapeutics by 20.0% in the third quarter. Quarry LP now owns 6,000 shares of the company’s stock valued at $192,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new position in SpringWorks Therapeutics in the fourth quarter worth approximately $203,000.

SpringWorks Therapeutics Trading Up 7.5 %

Shares of NASDAQ:SWTX opened at $59.28 on Thursday. The firm’s 50-day moving average is $38.35 and its two-hundred day moving average is $36.40. SpringWorks Therapeutics, Inc. has a 1 year low of $28.21 and a 1 year high of $60.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.03. The business had revenue of $49.10 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 4810.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.27) earnings per share. As a group, research analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wedbush reaffirmed an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Monday. Evercore ISI upped their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $74.00 price target on shares of SpringWorks Therapeutics in a research report on Wednesday. Finally, Guggenheim decreased their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $70.83.

Insiders Place Their Bets

In other news, CEO Saqib Islam sold 48,000 shares of SpringWorks Therapeutics 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 directly owns 1,002,502 shares of the company’s stock, valued at approximately $53,433,356.60. The trade was a 4.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Badreddin Edris sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total value of $839,400.00. Following the transaction, the chief operating officer now directly owns 209,600 shares of the company’s stock, valued at approximately $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 302,750 shares of company stock worth $16,139,410 in the last quarter. 7.61% of the stock is owned by company insiders.

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.