SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Holdings Trimmed by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 49.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,431 shares of the company’s stock after selling 74,390 shares during the period. Alliancebernstein L.P. owned approximately 0.10% of SpringWorks Therapeutics worth $2,761,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pictet Asset Management Holding SA grew its stake in shares of SpringWorks Therapeutics by 24.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock worth $86,402,000 after purchasing an additional 465,494 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in SpringWorks Therapeutics by 102.5% during the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock worth $29,427,000 after buying an additional 464,903 shares in the last quarter. Vanguard Group Inc. grew its position in SpringWorks Therapeutics by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock worth $258,650,000 after buying an additional 445,593 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of SpringWorks Therapeutics during the 4th quarter valued at $10,527,000. Finally, Norges Bank bought a new stake in shares of SpringWorks Therapeutics during the 4th quarter worth $6,738,000.

Wall Street Analyst Weigh In

SWTX has been the topic of a number of recent analyst reports. Guggenheim cut their target price on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Wedbush restated an “outperform” rating and set a $81.00 price objective on shares of SpringWorks Therapeutics in a report on Thursday, February 20th. 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. Finally, Evercore ISI lifted their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $73.20.

Insiders Place Their Bets

In other SpringWorks Therapeutics news, COO Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $54.23, for a total value of $1,084,600.00. Following the completion of the sale, the chief operating officer now directly owns 169,712 shares in the company, valued at $9,203,481.76. The trade was a 10.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Saqib Islam sold 49,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $54.24, for a total transaction of $2,657,760.00. Following the completion of the sale, the chief executive officer now directly owns 954,869 shares of the company’s stock, valued at $51,792,094.56. This represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 440,766 shares of company stock worth $24,402,956 in the last quarter. 7.61% of the stock is currently owned by corporate insiders.

SpringWorks Therapeutics Trading Up 0.3 %

Shares of SpringWorks Therapeutics stock opened at $37.59 on Wednesday. SpringWorks Therapeutics, Inc. has a 1 year low of $28.21 and a 1 year high of $62.00. The company has a market cap of $2.82 billion, a P/E ratio of -10.80 and a beta of 0.79. The stock has a 50-day moving average price of $48.53 and a 200 day moving average price of $40.11.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results 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). SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. The company had revenue of $61.55 million during the quarter, compared to analysts’ expectations of $60.53 million. On average, equities analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

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.