Arizona State Retirement System Buys 3,297 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Arizona State Retirement System boosted its stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 33.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,088 shares of the company’s stock after purchasing an additional 3,297 shares during the quarter. Arizona State Retirement System’s holdings in SpringWorks Therapeutics were worth $478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in SWTX. China Universal Asset Management Co. Ltd. boosted its position in SpringWorks Therapeutics by 96.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,612 shares of the company’s stock valued at $37,000 after purchasing an additional 792 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in SpringWorks Therapeutics by 42.8% in the second quarter. Osaic Holdings Inc. now owns 2,609 shares of the company’s stock worth $69,000 after acquiring an additional 782 shares in the last quarter. IFP Advisors Inc boosted its holdings in SpringWorks Therapeutics by 31.2% in the second quarter. IFP Advisors Inc now owns 2,794 shares of the company’s stock worth $73,000 after acquiring an additional 665 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in SpringWorks Therapeutics by 64.3% in the second quarter. Tower Research Capital LLC TRC now owns 3,122 shares of the company’s stock worth $82,000 after acquiring an additional 1,222 shares in the last quarter. Finally, Amundi boosted its holdings in SpringWorks Therapeutics by 37.3% in the fourth quarter. Amundi now owns 3,678 shares of the company’s stock worth $102,000 after acquiring an additional 1,000 shares in the last quarter.

SpringWorks Therapeutics Stock Down 5.6 %

Shares of NASDAQ:SWTX opened at $40.10 on Friday. SpringWorks Therapeutics, Inc. has a 52-week low of $18.00 and a 52-week high of $53.92. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -7.80 and a beta of 0.83. The business has a 50-day moving average price of $47.96 and a 200-day moving average price of $37.07.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($1.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.24) by ($0.20). The firm had revenue of $5.45 million during the quarter, compared to analysts’ expectations of $1.26 million. During the same period last year, the firm posted ($1.19) EPS. As a group, equities analysts anticipate that SpringWorks Therapeutics, Inc. will post -4.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SWTX. Wedbush raised their price target on SpringWorks Therapeutics from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, February 26th. Barclays raised their price target on SpringWorks Therapeutics from $47.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. raised their price target on SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. HC Wainwright raised their price target on SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Guggenheim began coverage on SpringWorks Therapeutics in a research note on Monday, February 5th. They issued a “buy” rating and a $75.00 price objective for the company. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $68.00.

Insider Activity at SpringWorks Therapeutics

In related news, insider Daniel Pichl sold 15,000 shares of SpringWorks Therapeutics stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $50.10, for a total transaction of $751,500.00. Following the completion of the transaction, the insider now directly owns 45,212 shares in the company, valued at $2,265,121.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.61% of the stock is owned by company insiders.

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.