Stifel Financial Corp Lowers Stock Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Stifel Financial Corp reduced its position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 7.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 23,713 shares of the company’s stock after selling 1,968 shares during the quarter. Stifel Financial Corp’s holdings in SpringWorks Therapeutics were worth $857,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SWTX. Vanguard Group Inc. raised its holdings in shares of SpringWorks Therapeutics by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 7,158,871 shares of the company’s stock valued at $258,650,000 after buying an additional 445,593 shares during the period. Pictet Asset Management Holding SA increased its stake in SpringWorks Therapeutics by 24.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,391,412 shares of the company’s stock valued at $86,402,000 after purchasing an additional 465,494 shares during the last quarter. Capital International Investors lifted its holdings in SpringWorks Therapeutics by 92.7% in the fourth quarter. Capital International Investors now owns 2,361,746 shares of the company’s stock worth $85,330,000 after acquiring an additional 1,136,079 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of SpringWorks Therapeutics by 20.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,103,858 shares of the company’s stock worth $39,882,000 after purchasing an additional 185,413 shares during the last quarter. Finally, Finepoint Capital LP lifted its stake in SpringWorks Therapeutics by 15.0% in the fourth quarter. Finepoint Capital LP now owns 748,752 shares of the company’s stock valued at $27,052,000 after buying an additional 97,900 shares during the last quarter.

SpringWorks Therapeutics Stock Performance

Shares of SWTX opened at $46.26 on Friday. SpringWorks Therapeutics, Inc. has a 52 week low of $28.21 and a 52 week high of $62.00. The company has a market capitalization of $3.47 billion, a PE ratio of -13.29 and a beta of 0.77. The company’s 50 day moving average price is $44.35 and its 200 day moving average price is $41.58.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings results on Friday, May 9th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.81) by ($0.30). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. On average, equities analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wedbush restated a “neutral” rating and issued a $47.00 target price (down from $81.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Evercore ISI lowered shares of SpringWorks Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 28th. HC Wainwright reiterated a “neutral” rating and set a $47.00 price objective (down previously from $74.00) on shares of SpringWorks Therapeutics in a research note on Wednesday, April 30th. TD Cowen reissued a “hold” rating and issued a $47.00 price target (down from $66.00) on shares of SpringWorks Therapeutics in a report on Tuesday, April 29th. Finally, Barclays restated an “equal weight” rating and issued a $47.00 target price (down from $63.00) on shares of SpringWorks Therapeutics in a 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 company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $52.57.

Insider Buying and Selling at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, insider Bhavesh Ashar sold 1,016 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $61.19, for a total transaction of $62,169.04. Following the completion of the transaction, the insider now owns 62,053 shares of the company’s stock, valued at $3,797,023.07. The trade was a 1.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Saqib Islam sold 48,000 shares of SpringWorks Therapeutics stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $53.30, for a total value of $2,558,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,002,502 shares in the company, valued at approximately $53,433,356.60. This represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 440,766 shares of company stock worth $24,402,956 over the last three months. Corporate insiders own 7.83% of the company’s stock.

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.