Platinum Investment Management Ltd. Invests $1.69 Million in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Platinum Investment Management Ltd. bought a new stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 46,895 shares of the company’s stock, valued at approximately $1,694,000. Platinum Investment Management Ltd. owned 0.06% of SpringWorks Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Cibc World Markets Corp bought a new stake in SpringWorks Therapeutics in the fourth quarter valued at about $232,000. Swiss National Bank increased its stake in SpringWorks Therapeutics by 7.4% in the fourth quarter. Swiss National Bank now owns 116,800 shares of the company’s stock valued at $4,220,000 after acquiring an additional 8,000 shares during the period. AlphaQuest LLC increased its stake in 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 acquiring an additional 414 shares during the period. Raymond James Financial Inc. bought a new stake in SpringWorks Therapeutics in the fourth quarter valued at about $10,527,000. Finally, Arizona State Retirement System increased its stake in SpringWorks Therapeutics by 7.5% in the fourth quarter. Arizona State Retirement System now owns 17,206 shares of the company’s stock valued at $622,000 after acquiring an additional 1,206 shares during the period.

Insider Transactions at SpringWorks Therapeutics

In related news, COO Badreddin Edris sold 30,000 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $53.13, for a total value of $1,593,900.00. Following the transaction, the chief operating officer now directly owns 189,712 shares in the company, valued at $10,079,398.56. This represents a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Saqib Islam sold 48,000 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $53.30, for a total transaction of $2,558,400.00. Following the completion of the transaction, the chief executive officer now owns 1,002,502 shares in the company, valued at $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. Over the last three months, insiders have sold 440,766 shares of company stock worth $24,402,956. Corporate insiders own 7.61% of the company’s stock.

SpringWorks Therapeutics Trading Down 1.6 %

Shares of SWTX stock opened at $49.04 on Wednesday. SpringWorks Therapeutics, Inc. has a 1 year low of $28.21 and a 1 year high of $62.00. The firm’s 50 day moving average is $46.15 and its 200-day moving average is $39.26. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of -14.09 and a beta of 0.76.

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

Analysts Set New Price Targets

A number of equities analysts have commented on SWTX shares. Evercore ISI boosted their price target on shares of SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Guggenheim reduced their price target 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. HC Wainwright restated a “buy” rating and issued a $74.00 price target on shares of SpringWorks Therapeutics in a research report on Friday, February 21st. Finally, Wedbush restated an “outperform” rating and issued a $81.00 price target on shares of SpringWorks Therapeutics in a research report on Thursday, February 20th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $73.20.

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.