Teacher Retirement System of Texas Lowers Stake in SpringWorks Therapeutics (NASDAQ:SWTX)

Teacher Retirement System of Texas cut its holdings in SpringWorks Therapeutics (NASDAQ:SWTX) by 9.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,016 shares of the company’s stock after selling 1,593 shares during the period. Teacher Retirement System of Texas’ holdings in SpringWorks Therapeutics were worth $707,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SWTX. Charles Schwab Investment Management Inc. raised its stake in SpringWorks Therapeutics by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 605,248 shares of the company’s stock valued at $21,868,000 after purchasing an additional 3,021 shares during the period. Raymond James Financial Inc. purchased a new stake in SpringWorks Therapeutics during the 4th quarter valued at approximately $10,527,000. AlphaQuest LLC raised its position in shares of SpringWorks Therapeutics by 70.2% during the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after buying an additional 414 shares during the last quarter. Swiss National Bank lifted its holdings in shares of SpringWorks Therapeutics by 7.4% in the fourth quarter. Swiss National Bank now owns 116,800 shares of the company’s stock worth $4,220,000 after buying an additional 8,000 shares in the last quarter. Finally, Cibc World Markets Corp bought a new position in shares of SpringWorks Therapeutics during the fourth quarter worth $232,000.

Wall Street Analyst Weigh In

A number of research firms recently commented on SWTX. Guggenheim reiterated a “neutral” rating and issued a $47.00 target price on shares of SpringWorks Therapeutics in a research report on Monday, May 12th. TD Cowen reissued a “hold” rating and issued a $47.00 price objective (down from $66.00) on shares of SpringWorks Therapeutics in a research note on Tuesday, April 29th. Evercore ISI cut shares of SpringWorks Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. Wedbush restated 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. Finally, Barclays restated an “equal weight” rating and set a $47.00 target price (down previously from $63.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, SpringWorks Therapeutics has an average rating of “Hold” and a consensus target price of $52.57.

SpringWorks Therapeutics Price Performance

Shares of NASDAQ SWTX opened at $46.99 on Wednesday. The firm has a market cap of $3.54 billion, a PE ratio of -13.78 and a beta of 0.68. The business has a fifty day simple moving average of $46.69 and a two-hundred day simple moving average of $45.02. SpringWorks Therapeutics has a twelve month low of $28.21 and a twelve month high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings data on Friday, May 9th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.30). SpringWorks Therapeutics had a negative return on equity of 51.10% and a negative net margin of 115.60%. The firm had revenue of $49.09 million during the quarter, compared to analysts’ expectations of $64.19 million. On average, research analysts expect that SpringWorks Therapeutics will post -2.05 earnings per share for the current 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.