Platinum Investment Management Ltd. Makes New Investment in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Platinum Investment Management Ltd. bought a new position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 46,895 shares of the company’s stock, valued at approximately $1,694,000.

Several other hedge funds also recently bought and sold shares of SWTX. Principal Financial Group Inc. raised its holdings in SpringWorks Therapeutics by 102.5% in the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock worth $29,427,000 after purchasing an additional 464,903 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of SpringWorks Therapeutics during the fourth quarter worth $10,527,000. Walleye Capital LLC raised its holdings in shares of SpringWorks Therapeutics by 2,439.4% during the third quarter. Walleye Capital LLC now owns 286,093 shares of the company’s stock worth $9,166,000 after acquiring an additional 274,827 shares during the period. Ally Bridge Group NY LLC acquired a new stake in shares of SpringWorks Therapeutics during the third quarter worth $7,296,000. Finally, Maverick Capital Ltd. raised its holdings in shares of SpringWorks Therapeutics by 6.8% during the third quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock worth $89,018,000 after acquiring an additional 177,824 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SWTX shares. Evercore ISI raised their price objective on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Wedbush restated an “outperform” rating and set a $81.00 price objective on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. Guggenheim dropped their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $73.20.

SpringWorks Therapeutics Trading Down 1.6 %

Shares of SWTX stock opened at $49.04 on Wednesday. SpringWorks Therapeutics, Inc. has a 1 year low of $28.21 and a 1 year high of $62.00. The firm’s fifty day moving average price is $46.15 and its two-hundred day moving average price is $39.26. The firm has a market capitalization of $3.67 billion, a P/E ratio of -14.09 and a beta of 0.76.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced 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). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The firm had revenue of $61.55 million during the quarter, compared to the consensus estimate of $60.53 million. As a group, equities research analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current fiscal year.

Insider Activity

In related news, CEO Saqib Islam sold 48,000 shares of SpringWorks Therapeutics stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $53.30, for a total transaction of $2,558,400.00. Following the completion of the sale, the chief executive officer now owns 1,002,502 shares of the company’s stock, valued at approximately $53,433,356.60. The trade was a 4.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics 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. The trade was a 10.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 440,766 shares of company stock valued at $24,402,956 in the last quarter. Company 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.