JPMorgan Chase & Co. Sells 27,117 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

JPMorgan Chase & Co. reduced its position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 10.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 227,935 shares of the company’s stock after selling 27,117 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.31% of SpringWorks Therapeutics worth $8,235,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. AlphaQuest LLC increased its holdings in SpringWorks Therapeutics by 70.2% in the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after purchasing an additional 414 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of SpringWorks Therapeutics during the 4th quarter worth approximately $45,000. KBC Group NV increased its stake in shares of SpringWorks Therapeutics by 59.1% in the 4th quarter. KBC Group NV now owns 2,634 shares of the company’s stock valued at $95,000 after acquiring an additional 978 shares in the last quarter. US Bancorp DE lifted its position in shares of SpringWorks Therapeutics by 56.0% during the 4th quarter. US Bancorp DE now owns 4,336 shares of the company’s stock valued at $157,000 after acquiring an additional 1,556 shares during the period. Finally, Park Avenue Securities LLC bought a new position in SpringWorks Therapeutics during the fourth quarter worth $203,000.

SpringWorks Therapeutics Stock Up 0.3 %

SWTX stock opened at $37.59 on Wednesday. The stock’s 50 day moving average is $48.53 and its 200-day moving average is $40.11. SpringWorks Therapeutics, Inc. has a twelve month low of $28.21 and a twelve month high of $62.00. The firm has a market capitalization of $2.82 billion, a PE ratio of -10.80 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). The firm had revenue of $61.55 million for the quarter, compared to analysts’ expectations of $60.53 million. SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. On average, equities research analysts anticipate that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Insider Activity at SpringWorks Therapeutics

In other news, insider Daniel Pichl sold 29,750 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $54.36, for a total value of $1,617,210.00. Following the completion of the transaction, the insider now directly owns 50,762 shares in the company, valued at approximately $2,759,422.32. This trade represents a 36.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Badreddin Edris sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $53.13, for a total transaction of $1,593,900.00. Following the transaction, the chief operating officer now directly owns 189,712 shares of the company’s stock, valued at approximately $10,079,398.56. This represents a 13.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 440,766 shares of company stock worth $24,402,956. Insiders own 7.61% of the company’s stock.

Analyst Upgrades and Downgrades

SWTX has been the subject of several research analyst reports. Guggenheim decreased their price target on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Wedbush reiterated an “outperform” rating and issued a $81.00 price target on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. Evercore ISI boosted their price objective on SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a report on Friday, February 21st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $73.20.

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.