NEOS Investment Management LLC Acquires 10,433 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

NEOS Investment Management LLC grew its holdings in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 51.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,811 shares of the company’s stock after acquiring an additional 10,433 shares during the quarter. NEOS Investment Management LLC’s holdings in SpringWorks Therapeutics were worth $1,113,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. AlphaQuest LLC grew its stake in shares of SpringWorks Therapeutics by 70.2% during the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after buying an additional 414 shares during the last quarter. KBC Group NV grew its holdings in shares of SpringWorks Therapeutics by 59.1% in 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. Quarry LP increased its stake in shares of SpringWorks Therapeutics by 20.0% in the third quarter. Quarry LP now owns 6,000 shares of the company’s stock worth $192,000 after buying an additional 1,000 shares during the period. Arizona State Retirement System raised its holdings in SpringWorks Therapeutics by 7.5% during the 4th quarter. Arizona State Retirement System now owns 17,206 shares of the company’s stock valued at $622,000 after buying an additional 1,206 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in SpringWorks Therapeutics during the 4th quarter valued at $45,000.

Analysts Set New Price Targets

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

Insider Buying and Selling at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $53.13, for a total transaction of $1,593,900.00. Following the completion of the transaction, the chief operating officer now owns 189,712 shares of the company’s stock, valued at approximately $10,079,398.56. This trade represents a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Saqib Islam sold 48,000 shares of SpringWorks Therapeutics stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 1,002,502 shares of the company’s stock, valued at $53,433,356.60. The trade was a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 440,766 shares of company stock valued at $24,402,956. 7.61% of the stock is currently owned by company insiders.

SpringWorks Therapeutics Price Performance

Shares of SWTX opened at $47.41 on Friday. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $62.00. The company has a 50-day simple moving average of $47.98 and a two-hundred day simple moving average of $39.75. The firm has a market capitalization of $3.55 billion, a PE ratio of -13.62 and a beta of 0.76.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.38). The firm had revenue of $61.55 million for the quarter, compared to the consensus estimate of $60.53 million. SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. Analysts expect that SpringWorks Therapeutics, Inc. will post -2.05 EPS 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.