ArrowMark Colorado Holdings LLC Sells 132,929 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

ArrowMark Colorado Holdings LLC lowered its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 8.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,492,062 shares of the company’s stock after selling 132,929 shares during the period. ArrowMark Colorado Holdings LLC owned 2.01% of SpringWorks Therapeutics worth $47,806,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SWTX. Profund Advisors LLC lifted its stake in SpringWorks Therapeutics by 1.3% in the second quarter. Profund Advisors LLC now owns 29,048 shares of the company’s stock valued at $1,094,000 after buying an additional 362 shares during the period. First Horizon Advisors Inc. boosted its position in SpringWorks Therapeutics by 47.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock worth $45,000 after acquiring an additional 383 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in SpringWorks Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock worth $87,000 after purchasing an additional 474 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of SpringWorks Therapeutics by 20.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock valued at $220,000 after acquiring an additional 754 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in SpringWorks Therapeutics by 1.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 46,389 shares of the company’s stock valued at $1,486,000 after purchasing an additional 871 shares in the last quarter.

Wall Street Analyst Weigh In

SWTX has been the topic of a number of recent analyst reports. Evercore ISI initiated coverage on SpringWorks Therapeutics in a research report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price target on the stock. JPMorgan Chase & Co. raised their target price on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Wedbush reaffirmed an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a research note on Monday, November 18th. Finally, HC Wainwright lowered their price objective on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SpringWorks Therapeutics currently has a consensus rating of “Buy” and an average price target of $69.50.

SpringWorks Therapeutics Trading Down 0.6 %

Shares of SWTX opened at $41.48 on Monday. The stock’s 50-day moving average price is $33.19 and its two-hundred day moving average price is $36.68. SpringWorks Therapeutics, Inc. has a 12 month low of $28.00 and a 12 month high of $53.92. The company has a market capitalization of $3.09 billion, a PE ratio of -10.69 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced 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 analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.27) EPS. Equities research analysts predict that SpringWorks Therapeutics, Inc. will post -3.12 EPS for the current fiscal year.

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.