Norges Bank Purchases New Shares in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Norges Bank acquired a new position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTXFree Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 337,833 shares of the company’s stock, valued at approximately $12,331,000. Norges Bank owned about 0.54% of SpringWorks Therapeutics as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Victory Capital Management Inc. increased its position in SpringWorks Therapeutics by 795.7% in the 4th quarter. Victory Capital Management Inc. now owns 369,367 shares of the company’s stock valued at $13,482,000 after acquiring an additional 328,127 shares during the period. Walleye Capital LLC grew its position in SpringWorks Therapeutics by 196.8% in the 3rd quarter. Walleye Capital LLC now owns 144,307 shares of the company’s stock valued at $3,336,000 after buying an additional 95,694 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in SpringWorks Therapeutics by 18.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 501,067 shares of the company’s stock valued at $18,289,000 after buying an additional 77,303 shares during the period. Mutual of America Capital Management LLC purchased a new position in SpringWorks Therapeutics during the 4th quarter worth $2,344,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of SpringWorks Therapeutics by 14.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 468,078 shares of the company’s stock worth $17,085,000 after acquiring an additional 60,652 shares during the period.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SWTX. Wedbush reissued an “outperform” rating and set a $75.00 price target (up from $70.00) on shares of SpringWorks Therapeutics in a report on Thursday, May 2nd. Barclays upped their price objective on SpringWorks Therapeutics from $47.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. HC Wainwright reissued a “buy” rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a report on Friday, May 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of SpringWorks Therapeutics from $73.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $68.83.

Check Out Our Latest Research Report on SpringWorks Therapeutics

SpringWorks Therapeutics Trading Down 0.9 %

Shares of SWTX opened at $38.91 on Wednesday. SpringWorks Therapeutics, Inc. has a 12-month low of $18.00 and a 12-month high of $53.92. The stock has a market cap of $2.88 billion, a P/E ratio of -7.57 and a beta of 0.80. The company has a 50-day moving average of $43.95 and a two-hundred day moving average of $41.96.

SpringWorks Therapeutics (NASDAQ:SWTXGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.01). The firm had revenue of $21.00 million during the quarter, compared to analyst estimates of $12.07 million. The firm’s quarterly revenue was up 2000.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.18) EPS. As a group, analysts forecast that SpringWorks Therapeutics, Inc. will post -4.6 EPS for the current fiscal year.

SpringWorks Therapeutics Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for SpringWorks Therapeutics (NASDAQ:SWTX)

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