Peregrine Capital Management LLC Decreases Stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Peregrine Capital Management LLC decreased its holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 2.6% in the 4th quarter, HoldingsChannel reports. The fund owned 161,186 shares of the company’s stock after selling 4,348 shares during the quarter. Peregrine Capital Management LLC’s holdings in SpringWorks Therapeutics were worth $5,824,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Venturi Wealth Management LLC purchased a new position in shares of SpringWorks Therapeutics in the 4th quarter valued at about $45,000. KBC Group NV grew its position in SpringWorks Therapeutics by 59.1% during the fourth quarter. KBC Group NV now owns 2,634 shares of the company’s stock worth $95,000 after buying an additional 978 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in SpringWorks Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after buying an additional 474 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of SpringWorks Therapeutics during the 3rd quarter valued at approximately $147,000. Finally, Park Avenue Securities LLC purchased a new stake in shares of SpringWorks Therapeutics during the 4th quarter worth approximately $203,000.

Analyst Ratings Changes

SWTX has been the subject of several research reports. Wedbush reaffirmed an “outperform” rating and set a $77.00 price objective on shares of SpringWorks Therapeutics in a report on Monday, February 10th. Guggenheim cut their price target on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. HC Wainwright reissued a “buy” rating and issued a $74.00 price objective on shares of SpringWorks Therapeutics in a research note on Wednesday, February 12th. Finally, Evercore ISI lifted their target price on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SpringWorks Therapeutics currently has an average rating of “Buy” and a consensus target price of $70.83.

Insiders Place Their Bets

In related news, COO Badreddin Edris sold 20,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total value of $839,400.00. Following the completion of the transaction, the chief operating officer now directly owns 209,600 shares in the company, valued at approximately $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Saqib Islam sold 48,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,002,502 shares in the company, valued at approximately $53,433,356.60. The trade was a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 302,750 shares of company stock valued at $16,139,410 in the last ninety days. Insiders own 7.61% of the company’s stock.

SpringWorks Therapeutics Stock Down 2.0 %

SWTX opened at $56.30 on Wednesday. The business’s fifty day simple moving average is $39.95 and its 200 day simple moving average is $37.18. SpringWorks Therapeutics, Inc. has a 52 week low of $28.21 and a 52 week high of $60.00.

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.