State Board of Administration of Florida Retirement System lifted its position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX – Get Rating) by 78.7% in the second quarter, HoldingsChannel.com reports. The firm owned 18,092 shares of the company’s stock after purchasing an additional 7,970 shares during the period. State Board of Administration of Florida Retirement System’s holdings in SpringWorks Therapeutics were worth $445,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in shares of SpringWorks Therapeutics by 1.0% during the first quarter. Victory Capital Management Inc. now owns 782,117 shares of the company’s stock worth $44,074,000 after purchasing an additional 7,843 shares during the period. E Fund Management Co. Ltd. purchased a new stake in SpringWorks Therapeutics in the first quarter worth about $257,000. Strs Ohio lifted its holdings in SpringWorks Therapeutics by 6.1% in the second quarter. Strs Ohio now owns 15,600 shares of the company’s stock worth $384,000 after buying an additional 900 shares during the period. Envestnet Asset Management Inc. lifted its holdings in SpringWorks Therapeutics by 54.2% in the first quarter. Envestnet Asset Management Inc. now owns 16,396 shares of the company’s stock worth $925,000 after buying an additional 5,763 shares during the period. Finally, Bank of America Corp DE lifted its holdings in SpringWorks Therapeutics by 7.5% in the first quarter. Bank of America Corp DE now owns 1,627,487 shares of the company’s stock worth $91,855,000 after buying an additional 113,114 shares during the period.
Wall Street Analysts Forecast Growth
Several brokerages have commented on SWTX. HC Wainwright lowered their price objective on shares of SpringWorks Therapeutics from $103.00 to $99.00 and set a “buy” rating for the company in a report on Friday, November 4th. The Goldman Sachs Group lowered their price objective on shares of SpringWorks Therapeutics from $51.00 to $44.00 and set a “buy” rating for the company in a report on Friday, October 21st.
SpringWorks Therapeutics Stock Performance
SpringWorks Therapeutics (NASDAQ:SWTX – Get Rating) last announced its earnings results on Thursday, November 3rd. The company reported ($1.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.31) by ($0.06). On average, analysts forecast that SpringWorks Therapeutics, Inc. will post -5.18 earnings per share for the current fiscal year.
Insider Buying and Selling at SpringWorks Therapeutics
In other SpringWorks Therapeutics news, major shareholder Orbimed Advisors Llc sold 153,897 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $31.96, for a total transaction of $4,918,548.12. Following the completion of the transaction, the insider now owns 5,599,842 shares of the company’s stock, valued at $178,970,950.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 28.95% of the company’s stock.
SpringWorks Therapeutics Company Profile
SpringWorks Therapeutics, Inc acquires, develops, and commercializes medicines for underserved patient populations suffering from rare diseases and cancer. Its lead product candidate is nirogacestat, an oral small molecule gamma secretase inhibitor that is in Phase III clinical trial for the treatment of desmoid tumors.
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