Capital International Investors Purchases 1,136,079 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Capital International Investors grew its position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 92.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,361,746 shares of the company’s stock after purchasing an additional 1,136,079 shares during the period. Capital International Investors owned approximately 3.17% of SpringWorks Therapeutics worth $85,330,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pictet Asset Management Holding SA boosted its position in SpringWorks Therapeutics by 24.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock worth $86,402,000 after acquiring an additional 465,494 shares during the last quarter. Principal Financial Group Inc. grew its position in SpringWorks Therapeutics by 102.5% in the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after purchasing an additional 464,903 shares in the last quarter. Vanguard Group Inc. increased its stake in SpringWorks Therapeutics by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock valued at $258,650,000 after buying an additional 445,593 shares during the last quarter. Raymond James Financial Inc. bought a new stake in SpringWorks Therapeutics during the 4th quarter worth about $10,527,000. Finally, Norges Bank acquired a new position in shares of SpringWorks Therapeutics during the 4th quarter worth about $6,738,000.

Analysts Set New Price Targets

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

Insider Buying and Selling at SpringWorks Therapeutics

In other news, Director Daniel Lynch sold 175,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.46, for a total transaction of $9,530,500.00. Following the sale, the director now directly owns 130,944 shares of the company’s stock, valued at approximately $7,131,210.24. This represents a 57.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Badreddin Edris sold 20,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $54.23, for a total transaction of $1,084,600.00. Following the sale, the chief operating officer now directly owns 169,712 shares of the company’s stock, valued at $9,203,481.76. This represents a 10.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 440,766 shares of company stock valued at $24,402,956 in the last quarter. Company insiders own 7.83% of the company’s stock.

SpringWorks Therapeutics Price Performance

Shares of SWTX opened at $37.89 on Friday. The company’s 50-day moving average is $47.81 and its 200-day moving average is $40.23. The firm has a market capitalization of $2.84 billion, a PE ratio of -10.89 and a beta of 0.79. SpringWorks Therapeutics, Inc. has a fifty-two week low of $28.21 and a fifty-two week high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $60.53 million. Analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

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.