DnB Asset Management AS Cuts Stock Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

DnB Asset Management AS reduced its position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,875 shares of the company’s stock after selling 529 shares during the period. DnB Asset Management AS’s holdings in SpringWorks Therapeutics were worth $429,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SWTX. AlphaQuest LLC raised its stake in shares of SpringWorks Therapeutics by 70.2% in the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after purchasing an additional 414 shares during the last quarter. KBC Group NV lifted its stake in 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 acquiring an additional 978 shares during the period. Quarry LP boosted its holdings in shares of SpringWorks Therapeutics by 20.0% during the 3rd 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. Arizona State Retirement System boosted its holdings in shares of SpringWorks Therapeutics by 7.5% during the 4th quarter. Arizona State Retirement System now owns 17,206 shares of the company’s stock valued at $622,000 after acquiring an additional 1,206 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in shares of SpringWorks Therapeutics in the fourth quarter worth approximately $45,000.

Analyst Upgrades and Downgrades

SWTX has been the topic of several research reports. Wedbush restated an “outperform” rating and issued a $81.00 target price on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. HC Wainwright restated a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Guggenheim reduced their price objective on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Evercore ISI raised their target price on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, SpringWorks Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $73.20.

SpringWorks Therapeutics Stock Performance

Shares of SpringWorks Therapeutics stock opened at $46.52 on Thursday. The stock has a market cap of $3.49 billion, a P/E ratio of -13.37 and a beta of 0.76. The stock’s fifty day moving average is $48.51 and its 200 day moving average is $39.89. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results 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 firm had revenue of $61.55 million during the quarter, compared to analysts’ expectations of $60.53 million. Analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current year.

Insider Activity

In other SpringWorks Therapeutics news, insider Bhavesh Ashar sold 1,016 shares of the stock in a transaction 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 sale, the insider now owns 62,053 shares in the company, valued at approximately $3,797,023.07. This represents a 1.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Daniel Pichl sold 29,750 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $54.36, for a total value of $1,617,210.00. Following the completion of the transaction, the insider now owns 50,762 shares in the company, valued at $2,759,422.32. The trade was a 36.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 440,766 shares of company stock worth $24,402,956 in the last three months. Company insiders own 7.61% of the company’s stock.

SpringWorks Therapeutics 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.