Schonfeld Strategic Advisors LLC Cuts Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Schonfeld Strategic Advisors LLC lowered its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 194,043 shares of the company’s stock after selling 5,242 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in SpringWorks Therapeutics were worth $7,011,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in SWTX. Northern Trust Corp boosted its stake in shares of SpringWorks Therapeutics by 8.8% during the 4th quarter. Northern Trust Corp now owns 655,678 shares of the company’s stock worth $23,690,000 after acquiring an additional 52,908 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in SpringWorks Therapeutics by 42.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 407,683 shares of the company’s stock worth $14,730,000 after purchasing an additional 122,128 shares during the last quarter. Quarry LP boosted its position in SpringWorks Therapeutics by 66.7% during the fourth quarter. Quarry LP now owns 10,000 shares of the company’s stock worth $361,000 after purchasing an additional 4,000 shares in the last quarter. Virtus ETF Advisers LLC grew its holdings in SpringWorks Therapeutics by 7.4% in the fourth quarter. Virtus ETF Advisers LLC now owns 9,037 shares of the company’s stock valued at $327,000 after purchasing an additional 622 shares during the last quarter. Finally, Voya Investment Management LLC increased its position in shares of SpringWorks Therapeutics by 9.3% in the fourth quarter. Voya Investment Management LLC now owns 796,684 shares of the company’s stock valued at $28,784,000 after buying an additional 67,559 shares in the last quarter.

Insider Buying and Selling

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 30,000 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $53.13, for a total transaction of $1,593,900.00. Following the completion of the sale, the chief operating officer now directly owns 189,712 shares in the company, valued at $10,079,398.56. This represents a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Daniel Lynch sold 175,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.46, for a total value of $9,530,500.00. Following the completion of the transaction, the director now owns 130,944 shares in the company, valued at approximately $7,131,210.24. This trade represents a 57.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 440,766 shares of company stock valued at $24,402,956. Insiders own 7.83% of the company’s stock.

SpringWorks Therapeutics Stock Down 0.2 %

SWTX stock opened at $46.21 on Friday. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of -13.28 and a beta of 0.79. SpringWorks Therapeutics, Inc. has a 52-week low of $28.21 and a 52-week high of $62.00. The stock’s fifty day simple moving average is $45.29 and its 200-day simple moving average is $40.93.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). The company had revenue of $61.55 million for the quarter, compared to analyst estimates of $60.53 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. As a group, analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SWTX has been the topic of several recent research reports. Guggenheim lowered shares of SpringWorks Therapeutics from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $77.00 to $47.00 in a research report on Monday. Barclays reaffirmed an “equal weight” rating and issued a $47.00 target price (down previously from $63.00) on shares of SpringWorks Therapeutics in a research note on Monday. Evercore ISI cut SpringWorks Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday. HC Wainwright reissued a “neutral” rating and issued a $47.00 price target (down from $74.00) on shares of SpringWorks Therapeutics in a report on Wednesday. Finally, TD Cowen reaffirmed a “hold” rating and set a $47.00 price objective (down previously from $66.00) on shares of SpringWorks Therapeutics in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, SpringWorks Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $52.57.

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.