Assenagon Asset Management S.A. Takes $3.52 Million Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Assenagon Asset Management S.A. acquired a new stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 79,640 shares of the company’s stock, valued at approximately $3,515,000. Assenagon Asset Management S.A. owned 0.11% of SpringWorks Therapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SWTX. Rhumbline Advisers increased its position in shares of SpringWorks Therapeutics by 2.3% during the fourth quarter. Rhumbline Advisers now owns 101,904 shares of the company’s stock valued at $3,682,000 after purchasing an additional 2,251 shares during the period. State of New Jersey Common Pension Fund D increased its position in shares of SpringWorks Therapeutics by 19.3% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 55,343 shares of the company’s stock valued at $2,000,000 after purchasing an additional 8,954 shares during the period. Principal Financial Group Inc. increased its position in shares of SpringWorks Therapeutics by 20.2% during the fourth quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company’s stock valued at $39,882,000 after purchasing an additional 185,413 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of SpringWorks Therapeutics during the fourth quarter valued at approximately $45,000. Finally, Los Angeles Capital Management LLC increased its position in shares of SpringWorks Therapeutics by 30.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 61,760 shares of the company’s stock valued at $2,231,000 after purchasing an additional 14,548 shares during the period.

Analyst Upgrades and Downgrades

SWTX has been the topic of a number of research reports. TD Cowen restated a “hold” rating and set a $47.00 price objective (down from $66.00) on shares of SpringWorks Therapeutics in a research report on Tuesday, April 29th. HC Wainwright reiterated a “neutral” rating and issued a $47.00 price target (down from $74.00) on shares of SpringWorks Therapeutics in a research report on Wednesday, April 30th. Evercore ISI cut SpringWorks Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. Guggenheim reiterated a “neutral” rating and issued a $47.00 price target on shares of SpringWorks Therapeutics in a research report on Monday, May 12th. Finally, Wedbush reiterated a “neutral” rating and issued a $47.00 price target (down from $81.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $52.57.

SpringWorks Therapeutics Stock Performance

SpringWorks Therapeutics stock opened at $46.78 on Monday. The firm has a market cap of $3.52 billion, a P/E ratio of -13.44 and a beta of 0.70. The business’s fifty day moving average is $44.06 and its two-hundred day moving average is $43.83. SpringWorks Therapeutics, Inc. has a 52 week low of $28.21 and a 52 week high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings data on Friday, May 9th. The company reported ($1.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.30). SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. The business had revenue of $49.09 million during the quarter, compared to analyst estimates of $64.19 million. On average, equities research analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current year.

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.