Soros Fund Management LLC Acquires 174,321 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Soros Fund Management LLC increased its holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 45.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 559,321 shares of the company’s stock after purchasing an additional 174,321 shares during the quarter. Soros Fund Management LLC’s holdings in SpringWorks Therapeutics were worth $17,921,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. increased its stake in shares of SpringWorks Therapeutics by 47.9% in the second quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock valued at $45,000 after buying an additional 383 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in SpringWorks Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after acquiring an additional 474 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in SpringWorks Therapeutics during the 2nd quarter valued at approximately $123,000. Quantbot Technologies LP bought a new position in SpringWorks Therapeutics during the 3rd quarter worth approximately $147,000. Finally, Quarry LP lifted its position in shares of SpringWorks Therapeutics by 56.3% in the 2nd quarter. Quarry LP now owns 5,000 shares of the company’s stock worth $188,000 after purchasing an additional 1,800 shares during the period.

SpringWorks Therapeutics Trading Down 1.3 %

Shares of SpringWorks Therapeutics stock opened at $41.75 on Friday. The stock has a fifty day simple moving average of $33.96 and a 200 day simple moving average of $36.72. SpringWorks Therapeutics, Inc. has a 12-month low of $28.21 and a 12-month high of $53.92. The company has a market capitalization of $3.11 billion, a P/E ratio of -10.76 and a beta of 0.86.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates 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%. SpringWorks Therapeutics’s quarterly revenue was up 4810.0% compared to the same quarter last year. During the same period last year, the company posted ($1.27) earnings per share. On average, analysts predict that SpringWorks Therapeutics, Inc. will post -3.12 EPS for the current year.

Wall Street Analyst Weigh In

SWTX has been the subject of several recent analyst reports. Evercore ISI began coverage on shares of SpringWorks Therapeutics in a research report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective 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 restated an “outperform” rating and set a $77.00 target price on shares of SpringWorks Therapeutics in a research report on Monday, November 18th. Finally, HC Wainwright lowered their target price on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SpringWorks Therapeutics presently has a consensus rating of “Buy” and an average target price of $69.50.

Insider Buying and Selling at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total transaction of $839,400.00. Following the completion of the transaction, the chief operating officer now owns 209,600 shares in the company, valued at $8,796,912. This trade represents a 8.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.61% of the stock is owned by corporate insiders.

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.