Zurcher Kantonalbank Zurich Cantonalbank Purchases 2,387 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 38.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,645 shares of the company’s stock after acquiring an additional 2,387 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SpringWorks Therapeutics were worth $316,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. increased its stake 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 period. Strs Ohio purchased a new position in SpringWorks Therapeutics during the 4th quarter valued at about $102,000. SG Americas Securities LLC bought a new stake in shares of SpringWorks Therapeutics in the 4th quarter valued at about $157,000. Exchange Traded Concepts LLC lifted its position in shares of SpringWorks Therapeutics by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,323 shares of the company’s stock worth $194,000 after purchasing an additional 1,350 shares during the period. Finally, Amalgamated Bank increased its holdings in SpringWorks Therapeutics by 12.4% during the third quarter. Amalgamated Bank now owns 8,861 shares of the company’s stock valued at $205,000 after buying an additional 977 shares during the period.

SpringWorks Therapeutics Stock Performance

Shares of SWTX stock opened at $45.11 on Monday. SpringWorks Therapeutics, Inc. has a fifty-two week low of $18.00 and a fifty-two week high of $53.92. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of -8.78 and a beta of 0.84. The stock’s 50-day simple moving average is $47.21 and its 200-day simple moving average is $38.75.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Thursday, May 2nd. The company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.01). The business had revenue of $21.00 million for the quarter, compared to the consensus estimate of $12.07 million. During the same quarter in the previous year, the company posted ($1.18) earnings per share. The company’s revenue was up 2000.0% compared to the same quarter last year. As a group, equities analysts forecast that SpringWorks Therapeutics, Inc. will post -4.75 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Daniel Pichl sold 15,000 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $50.10, for a total value of $751,500.00. Following the transaction, the insider now directly owns 45,212 shares of the company’s stock, valued at $2,265,121.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on SWTX. Barclays upped their target price on SpringWorks Therapeutics from $47.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Guggenheim started 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. JPMorgan Chase & Co. lifted their target price on SpringWorks Therapeutics from $73.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Wedbush reissued an “outperform” rating and set a $75.00 price target (up from $70.00) on shares of SpringWorks Therapeutics in a research report on Thursday. Finally, HC Wainwright lifted their price objective on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $68.83.

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.