SG Americas Securities LLC Buys 9,409 Shares of SpringWorks Therapeutics (NASDAQ:SWTX)

SG Americas Securities LLC lifted its stake in SpringWorks Therapeutics (NASDAQ:SWTX) by 161.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,235 shares of the company’s stock after acquiring an additional 9,409 shares during the period. SG Americas Securities LLC’s holdings in SpringWorks Therapeutics were worth $672,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Huntington National Bank raised its position in shares of SpringWorks Therapeutics by 38.2% in the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock worth $25,000 after acquiring an additional 192 shares in the last quarter. AlphaQuest LLC increased its position in SpringWorks Therapeutics by 70.2% during the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after buying an additional 414 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in SpringWorks Therapeutics during the 4th quarter valued at about $45,000. State of Wyoming increased its position in SpringWorks Therapeutics by 39.5% during the 4th quarter. State of Wyoming now owns 1,530 shares of the company’s stock valued at $55,000 after buying an additional 433 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in SpringWorks Therapeutics during the 4th quarter valued at about $56,000.

SpringWorks Therapeutics Stock Performance

SpringWorks Therapeutics stock opened at $46.96 on Friday. The business’s 50-day simple moving average is $45.13 and its two-hundred day simple moving average is $43.97. The company has a market cap of $3.54 billion, a PE ratio of -13.77 and a beta of 0.70. SpringWorks Therapeutics has a fifty-two week low of $28.21 and a fifty-two week high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results on Friday, May 9th. The company reported ($1.11) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($0.30). The firm had revenue of $49.09 million for the quarter, compared to analysts’ expectations of $64.19 million. SpringWorks Therapeutics had a negative net margin of 115.60% and a negative return on equity of 51.10%. As a group, analysts predict that SpringWorks Therapeutics will post -2.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SWTX shares. Cowen lowered SpringWorks Therapeutics to a “hold” rating in a research report on Tuesday, April 29th. Guggenheim reaffirmed a “neutral” rating and set a $47.00 target price on shares of SpringWorks Therapeutics in a research report on Monday, May 12th. Barclays reaffirmed an “equal weight” rating and set a $47.00 target price (down from $63.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Wedbush reaffirmed a “neutral” rating and set a $47.00 target price (down from $81.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $47.00 target price (down from $74.00) on shares of SpringWorks Therapeutics in a research report on Wednesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $52.57.

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.