Orion Portfolio Solutions LLC Sells 6,064 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Orion Portfolio Solutions LLC reduced its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 16.8% during the third quarter, Holdings Channel.com reports. The firm owned 29,939 shares of the company’s stock after selling 6,064 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in SpringWorks Therapeutics were worth $959,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Alpha DNA Investment Management LLC purchased a new stake in SpringWorks Therapeutics in the third quarter worth about $411,000. D. E. Shaw & Co. Inc. grew its stake in shares of SpringWorks Therapeutics by 16.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 758,712 shares of the company’s stock valued at $28,581,000 after acquiring an additional 109,865 shares during the period. Ally Bridge Group NY LLC purchased a new stake in SpringWorks Therapeutics in the 3rd quarter worth approximately $7,296,000. Los Angeles Capital Management LLC raised its stake in SpringWorks Therapeutics by 238.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 47,212 shares of the company’s stock worth $1,513,000 after acquiring an additional 33,255 shares during the period. Finally, Seven Eight Capital LP purchased a new position in SpringWorks Therapeutics during the second quarter valued at approximately $1,854,000.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total value of $839,400.00. Following the completion of the transaction, the chief operating officer now directly owns 209,600 shares of the company’s stock, valued at $8,796,912. This trade represents a 8.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 7.61% of the company’s stock.

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ SWTX opened at $38.30 on Monday. The company has a market cap of $2.85 billion, a P/E ratio of -9.87 and a beta of 0.86. SpringWorks Therapeutics, Inc. has a 52-week low of $28.21 and a 52-week high of $53.92. The firm’s fifty day moving average is $34.92 and its two-hundred day moving average is $36.54.

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