Massachusetts Financial Services Co. MA Has $20.61 Million Stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Massachusetts Financial Services Co. MA raised its holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 20.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 643,192 shares of the company’s stock after buying an additional 108,109 shares during the period. Massachusetts Financial Services Co. MA owned 0.87% of SpringWorks Therapeutics worth $20,608,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Duquesne Family Office LLC acquired a new stake in shares of SpringWorks Therapeutics in the second quarter valued at about $38,475,000. Maverick Capital Ltd. increased its position in shares of SpringWorks Therapeutics by 36.3% during the 2nd quarter. Maverick Capital Ltd. now owns 2,600,524 shares of the company’s stock worth $97,962,000 after purchasing an additional 691,894 shares during the last quarter. Vanguard Group Inc. increased its position in shares of SpringWorks Therapeutics by 8.2% during the 1st quarter. Vanguard Group Inc. now owns 6,529,325 shares of the company’s stock worth $321,373,000 after purchasing an additional 492,783 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of SpringWorks Therapeutics by 102.5% during the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock worth $29,427,000 after purchasing an additional 464,903 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of SpringWorks Therapeutics by 254.2% in the 1st quarter. Jane Street Group LLC now owns 580,938 shares of the company’s stock valued at $28,594,000 after buying an additional 416,942 shares during the last quarter.

SpringWorks Therapeutics Stock Performance

Shares of SWTX opened at $39.39 on Tuesday. The firm has a market cap of $2.93 billion, a P/E ratio of -10.15 and a beta of 0.79. SpringWorks Therapeutics, Inc. has a 52 week low of $20.19 and a 52 week high of $53.92. The firm’s 50-day simple moving average is $32.68 and its 200 day simple moving average is $36.71.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.03. The company had revenue of $49.10 million for the quarter, compared to the consensus estimate of $53.28 million. SpringWorks Therapeutics had a negative return on equity of 48.21% and a negative net margin of 203.09%. The firm’s revenue for the quarter was up 4810.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.27) earnings per share. As a group, equities analysts forecast that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current year.

Analyst Ratings Changes

SWTX has been the topic of several analyst reports. HC Wainwright dropped their price target on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Wedbush reaffirmed an “outperform” rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a report on Monday, November 18th. JPMorgan Chase & Co. lifted their price target on SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Finally, Evercore ISI began coverage on SpringWorks Therapeutics in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, SpringWorks Therapeutics presently has an average rating of “Buy” and a consensus target price of $67.00.

About SpringWorks Therapeutics

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.