Mirae Asset Global Investments Co. Ltd. Buys 474 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Mirae Asset Global Investments Co. Ltd. boosted its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 21.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,686 shares of the company’s stock after buying an additional 474 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in SpringWorks Therapeutics were worth $87,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Creative Planning bought a new stake in shares of SpringWorks Therapeutics during the third quarter valued at approximately $254,000. Handelsbanken Fonder AB boosted its holdings in shares of SpringWorks Therapeutics by 18.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 23,400 shares of the company’s stock valued at $750,000 after buying an additional 3,600 shares in the last quarter. Quarry LP grew its position in shares of SpringWorks Therapeutics by 56.3% in the 2nd quarter. Quarry LP now owns 5,000 shares of the company’s stock worth $188,000 after buying an additional 1,800 shares during the period. Algert Global LLC increased its stake in shares of SpringWorks Therapeutics by 62.7% in the 2nd quarter. Algert Global LLC now owns 34,989 shares of the company’s stock worth $1,318,000 after acquiring an additional 13,489 shares in the last quarter. Finally, Maverick Capital Ltd. lifted its position in SpringWorks Therapeutics by 36.3% during the 2nd quarter. Maverick Capital Ltd. now owns 2,600,524 shares of the company’s stock valued at $97,962,000 after acquiring an additional 691,894 shares during the period.

SpringWorks Therapeutics Trading Up 1.0 %

SWTX stock opened at $30.94 on Tuesday. The stock has a market capitalization of $2.30 billion, a PE ratio of -6.98 and a beta of 0.79. The stock’s 50 day simple moving average is $33.92 and its 200 day simple moving average is $37.67. SpringWorks Therapeutics, Inc. has a 12-month low of $18.00 and a 12-month high of $53.92.

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

Wall Street Analyst Weigh In

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

About SpringWorks Therapeutics

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.