Main Management ETF Advisors LLC Makes New $746,000 Investment in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Main Management ETF Advisors LLC acquired a new position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 23,280 shares of the company’s stock, valued at approximately $746,000.

Several other large investors have also modified their holdings of SWTX. First Horizon Advisors Inc. boosted its holdings in shares of SpringWorks Therapeutics by 47.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock worth $45,000 after buying an additional 383 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in SpringWorks Therapeutics by 21.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after purchasing an additional 474 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in SpringWorks Therapeutics during the 2nd quarter valued at $123,000. Quantbot Technologies LP acquired a new position in SpringWorks Therapeutics during the 3rd quarter valued at $147,000. Finally, Quarry LP raised its stake in SpringWorks Therapeutics by 56.3% during the 2nd quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $188,000 after purchasing an additional 1,800 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SWTX. HC Wainwright dropped their price objective on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. JPMorgan Chase & Co. increased their price objective on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Wedbush reiterated an “outperform” rating and set a $77.00 target price on shares of SpringWorks Therapeutics in a research report on Monday, November 18th. Finally, Evercore ISI assumed coverage on shares of SpringWorks Therapeutics in a research report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 target price for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, SpringWorks Therapeutics currently has an average rating of “Buy” and an average target price of $69.50.

SpringWorks Therapeutics Stock Down 0.5 %

Shares of NASDAQ:SWTX opened at $41.56 on Friday. SpringWorks Therapeutics, Inc. has a 12 month low of $28.21 and a 12 month high of $53.92. The company’s 50-day moving average price is $34.15 and its two-hundred day moving average price is $36.67. The firm has a market cap of $3.09 billion, a P/E ratio of -10.71 and a beta of 0.86.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.03. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The firm had revenue of $49.10 million for the quarter, compared to analyst estimates of $53.28 million. During the same quarter in the prior year, the firm earned ($1.27) EPS. The company’s revenue was up 4810.0% on a year-over-year basis. As a group, equities analysts predict that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Badreddin Edris sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total value of $839,400.00. Following the transaction, the chief operating officer now owns 209,600 shares of the company’s stock, valued at approximately $8,796,912. This trade represents a 8.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.61% of the company’s stock.

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.