Balyasny Asset Management L.P. Makes New $3.10 Million Investment in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Balyasny Asset Management L.P. acquired a new position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) in the 4th quarter, Holdings Channel.com reports. The fund acquired 85,761 shares of the company’s stock, valued at approximately $3,099,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Huntington National Bank lifted its position in shares of SpringWorks Therapeutics by 38.2% during the fourth quarter. Huntington National Bank now owns 694 shares of the company’s stock worth $25,000 after purchasing an additional 192 shares during the last quarter. AlphaQuest LLC lifted its position in shares of SpringWorks Therapeutics by 70.2% during 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. Venturi Wealth Management LLC bought a new stake in shares of SpringWorks Therapeutics during the fourth quarter worth $45,000. KBC Group NV lifted its position in shares of SpringWorks Therapeutics by 59.1% during the fourth quarter. KBC Group NV now owns 2,634 shares of the company’s stock worth $95,000 after purchasing an additional 978 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of SpringWorks Therapeutics by 56.0% during the fourth quarter. US Bancorp DE now owns 4,336 shares of the company’s stock worth $157,000 after purchasing an additional 1,556 shares during the last quarter.

Wall Street Analyst Weigh In

SWTX has been the subject of several research analyst reports. Guggenheim downgraded SpringWorks Therapeutics from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $77.00 to $47.00 in a research report on Monday, April 28th. Barclays restated an “equal weight” rating and issued a $47.00 price objective (down from $63.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. Cowen downgraded shares of SpringWorks Therapeutics to a “hold” rating in a report on Tuesday, April 29th. Evercore ISI downgraded shares of SpringWorks Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $47.00 target price (down from $74.00) on shares of SpringWorks Therapeutics in a report on Wednesday, April 30th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, SpringWorks Therapeutics has an average rating of “Hold” and an average target price of $52.57.

Insider Transactions at SpringWorks Therapeutics

In related news, COO Badreddin Edris sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $54.23, for a total value of $1,084,600.00. Following the sale, the chief operating officer now owns 169,712 shares in the company, valued at $9,203,481.76. This represents a 10.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Saqib Islam sold 49,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $54.24, for a total value of $2,657,760.00. Following the completion of the sale, the chief executive officer now owns 954,869 shares in the company, valued at approximately $51,792,094.56. This represents a 4.88% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 158,016 shares of company stock worth $9,102,946. Insiders own 7.83% of the company’s stock.

SpringWorks Therapeutics Stock Performance

Shares of SWTX stock opened at $46.26 on Monday. SpringWorks Therapeutics, Inc. has a fifty-two week low of $28.21 and a fifty-two week high of $62.00. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of -13.29 and a beta of 0.77. The stock’s 50-day simple moving average is $44.35 and its 200-day simple moving average is $41.76.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings results on Friday, May 9th. The company reported ($1.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.30). SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. The business had revenue of $49.09 million for the quarter, compared to analysts’ expectations of $64.19 million. As a group, equities analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

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.