Dimensional Fund Advisors LP Lowers Stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Dimensional Fund Advisors LP reduced its position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 8.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 830,522 shares of the company’s stock after selling 75,214 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.12% of SpringWorks Therapeutics worth $31,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of SpringWorks Therapeutics by 8.3% during the 4th quarter. Principal Financial Group Inc. now owns 16,120 shares of the company’s stock valued at $588,000 after buying an additional 1,231 shares in the last quarter. Norges Bank bought a new position in shares of SpringWorks Therapeutics in the fourth quarter worth about $12,331,000. TD Asset Management Inc grew its position in shares of SpringWorks Therapeutics by 30.7% during the fourth quarter. TD Asset Management Inc now owns 181,432 shares of the company’s stock worth $6,622,000 after purchasing an additional 42,600 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in SpringWorks Therapeutics during the 4th quarter valued at approximately $486,000. Finally, RTW Investments LP purchased a new position in SpringWorks Therapeutics in the 4th quarter worth approximately $22,812,000.

SpringWorks Therapeutics Trading Up 0.6 %

Shares of NASDAQ:SWTX opened at $32.22 on Wednesday. The company has a 50-day moving average price of $36.90 and a 200 day moving average price of $40.35. SpringWorks Therapeutics, Inc. has a 12 month low of $18.00 and a 12 month high of $53.92. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -6.27 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its earnings results on Wednesday, August 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.12) by $0.58. The firm had revenue of $59.73 million during the quarter, compared to the consensus estimate of $34.42 million. During the same quarter last year, the business posted ($1.25) EPS. SpringWorks Therapeutics’s revenue was up 59732900.0% compared to the same quarter last year. As a group, equities analysts forecast that SpringWorks Therapeutics, Inc. will post -3.36 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $76.00 price objective on shares of SpringWorks Therapeutics in a research report on Wednesday, August 28th. Wedbush reiterated an “outperform” rating and issued a $77.00 price target (up previously from $75.00) on shares of SpringWorks Therapeutics in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. increased their price objective on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SpringWorks Therapeutics currently has a consensus rating of “Buy” and an average target price of $68.50.

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.