BIT Capital GmbH Buys 8,429 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

BIT Capital GmbH lifted its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 18.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,539 shares of the company’s stock after acquiring an additional 8,429 shares during the period. BIT Capital GmbH owned 0.07% of SpringWorks Therapeutics worth $1,934,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AlphaQuest LLC raised its position in shares of SpringWorks Therapeutics by 70.2% in the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after purchasing an additional 414 shares during the period. Venturi Wealth Management LLC acquired a new position in SpringWorks Therapeutics in the 4th quarter valued at $45,000. KBC Group NV raised its holdings in SpringWorks Therapeutics by 59.1% in the 4th quarter. KBC Group NV now owns 2,634 shares of the company’s stock worth $95,000 after acquiring an additional 978 shares during the period. Quantbot Technologies LP acquired a new position in SpringWorks Therapeutics during the 3rd quarter worth $147,000. Finally, US Bancorp DE boosted its holdings in SpringWorks Therapeutics by 56.0% during the fourth quarter. US Bancorp DE now owns 4,336 shares of the company’s stock valued at $157,000 after acquiring an additional 1,556 shares during the period.

Insider Transactions at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, CEO Saqib Islam sold 49,000 shares of SpringWorks Therapeutics stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $54.24, for a total transaction of $2,657,760.00. Following the sale, the chief executive officer now directly owns 954,869 shares of the company’s stock, valued at approximately $51,792,094.56. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Pichl sold 29,750 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $54.36, for a total value of $1,617,210.00. Following the completion of the transaction, the insider now directly owns 50,762 shares of the company’s stock, valued at approximately $2,759,422.32. The trade was a 36.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 440,766 shares of company stock valued at $24,402,956. Company insiders own 7.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SWTX. Evercore ISI lifted their price objective on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. HC Wainwright reaffirmed a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research report on Friday, February 21st. Wedbush reissued an “outperform” rating and issued a $81.00 price objective on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Finally, Guggenheim dropped their target price on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, SpringWorks Therapeutics has a consensus rating of “Buy” and a consensus target price of $73.20.

SpringWorks Therapeutics Trading Down 1.5 %

Shares of SWTX stock opened at $46.48 on Thursday. SpringWorks Therapeutics, Inc. has a 12 month low of $28.21 and a 12 month high of $62.00. The company has a market capitalization of $3.48 billion, a P/E ratio of -13.36 and a beta of 0.76. The stock has a 50 day moving average of $47.48 and a two-hundred day moving average of $39.63.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The firm had revenue of $61.55 million during the quarter, compared to analyst estimates of $60.53 million. Sell-side analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal 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.