Mirae Asset Global Investments Co. Ltd. Increases Stock Holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Mirae Asset Global Investments Co. Ltd. boosted its position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 9.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,820 shares of the company’s stock after purchasing an additional 3,187 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in SpringWorks Therapeutics were worth $1,344,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SWTX. China Universal Asset Management Co. Ltd. boosted its position in SpringWorks Therapeutics by 96.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,612 shares of the company’s stock worth $37,000 after purchasing an additional 792 shares during the last quarter. Osaic Holdings Inc. lifted its position in shares of SpringWorks Therapeutics by 42.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,609 shares of the company’s stock valued at $69,000 after buying an additional 782 shares in the last quarter. IFP Advisors Inc lifted its position in shares of SpringWorks Therapeutics by 31.2% during the 2nd quarter. IFP Advisors Inc now owns 2,794 shares of the company’s stock valued at $73,000 after buying an additional 665 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of SpringWorks Therapeutics by 64.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,122 shares of the company’s stock valued at $82,000 after buying an additional 1,222 shares in the last quarter. Finally, Amundi lifted its position in shares of SpringWorks Therapeutics by 37.3% during the 4th quarter. Amundi now owns 3,678 shares of the company’s stock valued at $102,000 after buying an additional 1,000 shares in the last quarter.

SpringWorks Therapeutics Trading Down 5.6 %

Shares of SWTX opened at $40.10 on Monday. The business’s 50 day moving average is $47.96 and its 200 day moving average is $37.25. The company has a market capitalization of $2.96 billion, a PE ratio of -7.80 and a beta of 0.83. SpringWorks Therapeutics, Inc. has a 12-month low of $18.00 and a 12-month high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results 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 company had revenue of $5.45 million during the quarter, compared to the consensus estimate of $1.26 million. During the same quarter in the previous year, the business earned ($1.19) earnings per share. Equities research analysts predict that SpringWorks Therapeutics, Inc. will post -4.71 earnings per share for the current year.

Insiders Place Their Bets

In other SpringWorks Therapeutics 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 value of $751,500.00. Following the sale, the insider now owns 45,212 shares of the company’s stock, valued at approximately $2,265,121.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.61% of the company’s stock.

Analyst Upgrades and Downgrades

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

SpringWorks Therapeutics 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.