New York State Common Retirement Fund Acquires 3,987 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

New York State Common Retirement Fund increased its holdings in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 253,741 shares of the company’s stock after purchasing an additional 3,987 shares during the quarter. New York State Common Retirement Fund’s holdings in SpringWorks Therapeutics were worth $9,262,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Duality Advisers LP bought a new stake in SpringWorks Therapeutics during the fourth quarter worth about $378,000. Handelsbanken Fonder AB bought a new stake in shares of SpringWorks Therapeutics during the 4th quarter worth approximately $431,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of SpringWorks Therapeutics by 38.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,645 shares of the company’s stock valued at $316,000 after buying an additional 2,387 shares during the last quarter. Strs Ohio bought a new position in shares of SpringWorks Therapeutics in the fourth quarter valued at $102,000. Finally, Mutual of America Capital Management LLC acquired a new position in SpringWorks Therapeutics during the fourth quarter worth $2,344,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SWTX. HC Wainwright lifted their price objective on shares of 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. boosted their price target on SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Barclays raised 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. Wedbush raised their price target on SpringWorks Therapeutics from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, February 26th. Finally, Guggenheim initiated coverage on shares of SpringWorks Therapeutics in a report on Monday, February 5th. They issued a “buy” rating and a $75.00 price objective on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $68.00.

SpringWorks Therapeutics Price Performance

NASDAQ SWTX opened at $46.84 on Thursday. SpringWorks Therapeutics, Inc. has a fifty-two week low of $18.00 and a fifty-two week high of $53.92. The business has a fifty day moving average price of $47.40 and a two-hundred day moving average price of $38.36. The stock has a market capitalization of $3.46 billion, a PE ratio of -9.11 and a beta of 0.83.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly 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 for 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. As a group, sell-side analysts expect that SpringWorks Therapeutics, Inc. will post -4.69 earnings per share for the current year.

Insider Activity

In related news, insider Daniel Pichl sold 15,000 shares of the business’s stock in a transaction 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 sale, the insider now owns 45,212 shares in the company, valued at approximately $2,265,121.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.61% of the stock is owned by corporate insiders.

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.