Allspring Global Investments Holdings LLC Invests $208,000 in SpringWorks Therapeutics (NASDAQ:SWTX)

Allspring Global Investments Holdings LLC purchased a new stake in shares of SpringWorks Therapeutics (NASDAQ:SWTX) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 4,711 shares of the company’s stock, valued at approximately $208,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in SpringWorks Therapeutics by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock valued at $258,650,000 after purchasing an additional 445,593 shares during the last quarter. Boxer Capital Management LLC bought a new stake in shares of SpringWorks Therapeutics during the 4th quarter worth $123,620,000. Pictet Asset Management Holding SA increased its stake in 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 in the last quarter. Capital International Investors increased its stake in SpringWorks Therapeutics by 92.7% in the 4th quarter. Capital International Investors now owns 2,361,746 shares of the company’s stock worth $85,330,000 after purchasing an additional 1,136,079 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its stake in SpringWorks Therapeutics by 0.5% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,499,134 shares of the company’s stock worth $54,164,000 after purchasing an additional 7,072 shares in the last quarter.

SpringWorks Therapeutics Stock Performance

Shares of SpringWorks Therapeutics stock opened at $46.99 on Friday. The company has a 50 day moving average of $46.66 and a 200-day moving average of $44.82. SpringWorks Therapeutics has a 1-year low of $28.21 and a 1-year high of $62.00. The company has a market cap of $3.54 billion, a PE ratio of -13.78 and a beta of 0.68.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings data 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 analyst estimates of $64.19 million. SpringWorks Therapeutics had a negative return on equity of 51.10% and a negative net margin of 115.60%. Research analysts forecast that SpringWorks Therapeutics will post -2.05 earnings per share for the current year.

Analysts Set New Price Targets

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