Ensign Peak Advisors Inc Lowers Stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Ensign Peak Advisors Inc trimmed its holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 88.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 19,041 shares of the company’s stock after selling 145,903 shares during the period. Ensign Peak Advisors Inc’s holdings in SpringWorks Therapeutics were worth $688,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Huntington National Bank lifted its stake in shares of SpringWorks Therapeutics by 38.2% in the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock worth $25,000 after acquiring an additional 192 shares during the period. AlphaQuest LLC boosted 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 acquiring an additional 414 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in SpringWorks Therapeutics during the 4th quarter worth about $45,000. KBC Group NV increased its position in SpringWorks Therapeutics by 59.1% during the 4th quarter. KBC Group NV now owns 2,634 shares of the company’s stock worth $95,000 after purchasing an additional 978 shares in the last quarter. Finally, US Bancorp DE raised its stake in SpringWorks Therapeutics by 56.0% in the 4th quarter. US Bancorp DE now owns 4,336 shares of the company’s stock valued at $157,000 after purchasing an additional 1,556 shares during the last quarter.

SpringWorks Therapeutics Stock Up 0.1%

NASDAQ:SWTX opened at $46.11 on Friday. The company has a market cap of $3.46 billion, a P/E ratio of -13.25 and a beta of 0.77. The firm’s 50 day moving average is $43.95 and its two-hundred day moving average is $42.16. 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 issued its earnings results on Friday, May 9th. The company reported ($1.11) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($0.30). SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. The firm had revenue of $49.09 million during the quarter, compared to analysts’ expectations of $64.19 million. Research analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Insider Transactions at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, CEO Saqib Islam sold 49,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $54.24, for a total transaction of $2,657,760.00. Following the completion of the sale, the chief executive officer now directly owns 954,869 shares in the company, valued at $51,792,094.56. The trade was a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bhavesh Ashar sold 1,016 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $61.19, for a total transaction of $62,169.04. Following the completion of the transaction, the insider now directly owns 62,053 shares in the company, valued at approximately $3,797,023.07. This represents a 1.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,944 shares of company stock worth $8,439,479 in the last three months. 7.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. TD Cowen reaffirmed a “hold” rating and set a $47.00 price target (down from $66.00) on shares of SpringWorks Therapeutics in a research note on Tuesday, April 29th. Wedbush restated a “neutral” rating and set a $47.00 target price (down previously from $81.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Barclays reaffirmed an “equal weight” rating and issued a $47.00 target price (down from $63.00) on shares of SpringWorks Therapeutics in a research note on Monday, April 28th. Guggenheim reissued a “neutral” rating and set a $47.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, May 12th. Finally, Evercore ISI cut SpringWorks Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $52.57.

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.