Belpointe Asset Management LLC Acquires New Shares in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Belpointe Asset Management LLC acquired a new stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,000 shares of the company’s stock, valued at approximately $78,000.

Several other institutional investors also recently modified their holdings of the business. State Street Corp lifted its position in SpringWorks Therapeutics by 143.7% during the second quarter. State Street Corp now owns 3,889,249 shares of the company’s stock valued at $95,753,000 after purchasing an additional 2,293,359 shares during the period. EcoR1 Capital LLC bought a new position in SpringWorks Therapeutics during the third quarter valued at approximately $98,720,000. Boxer Capital LLC lifted its position in SpringWorks Therapeutics by 64.8% during the third quarter. Boxer Capital LLC now owns 3,421,541 shares of the company’s stock valued at $97,617,000 after purchasing an additional 1,345,636 shares during the period. Vanguard Group Inc. increased its position in SpringWorks Therapeutics by 16.5% during the third quarter. Vanguard Group Inc. now owns 3,196,045 shares of the company’s stock valued at $91,184,000 after acquiring an additional 451,928 shares during the last quarter. Finally, BlackRock Inc. increased its position in SpringWorks Therapeutics by 7.7% during the third quarter. BlackRock Inc. now owns 2,821,344 shares of the company’s stock valued at $80,492,000 after acquiring an additional 201,887 shares during the last quarter.

SpringWorks Therapeutics Price Performance

Shares of NASDAQ:SWTX opened at $30.49 on Friday. The company has a market capitalization of $1.91 billion, a P/E ratio of -5.92 and a beta of 0.58. SpringWorks Therapeutics, Inc. has a 1-year low of $13.60 and a 1-year high of $39.78. The firm’s 50 day simple moving average is $25.98 and its two-hundred day simple moving average is $26.64.

SpringWorks Therapeutics (NASDAQ:SWTX – Get Rating) last issued its quarterly earnings results on Wednesday, May 3rd. The company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.08). During the same period last year, the firm posted ($1.26) earnings per share. On average, sell-side analysts anticipate that SpringWorks Therapeutics, Inc. will post -5.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on SpringWorks Therapeutics from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, March 7th. HC Wainwright reaffirmed a “buy” rating and set a $105.00 target price on shares of SpringWorks Therapeutics in a report on Thursday, April 20th. Barclays decreased their price target on shares of SpringWorks Therapeutics from $55.00 to $41.00 in a research report on Friday, April 28th. Finally, The Goldman Sachs Group boosted their price objective on shares of SpringWorks Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, January 26th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $56.33.

Insider Activity

In related news, Director Julie Hambleton sold 1,106 shares of the company’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $31.50, for a total transaction of $34,839.00. Following the completion of the transaction, the director now owns 4,818 shares in the company, valued at $151,767. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 7.43% of the company’s stock.

SpringWorks Therapeutics Profile

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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.