Russell Investments Group Ltd. Lowers Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Russell Investments Group Ltd. cut its stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX – Get Rating) by 16.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,315 shares of the company’s stock after selling 16,666 shares during the quarter. Russell Investments Group Ltd.’s holdings in SpringWorks Therapeutics were worth $2,245,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SWTX. Royal Bank of Canada increased its position in shares of SpringWorks Therapeutics by 1.8% during the first quarter. Royal Bank of Canada now owns 26,465 shares of the company’s stock valued at $1,494,000 after acquiring an additional 479 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of SpringWorks Therapeutics by 4.0% during the third quarter. Envestnet Asset Management Inc. now owns 14,401 shares of the company’s stock valued at $411,000 after acquiring an additional 558 shares during the last quarter. Credit Suisse AG increased its position in shares of SpringWorks Therapeutics by 3.0% during the second quarter. Credit Suisse AG now owns 19,510 shares of the company’s stock valued at $480,000 after acquiring an additional 566 shares during the last quarter. Rhumbline Advisers increased its position in shares of SpringWorks Therapeutics by 3.7% during the first quarter. Rhumbline Advisers now owns 30,629 shares of the company’s stock valued at $1,729,000 after acquiring an additional 1,101 shares during the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of SpringWorks Therapeutics by 8.6% during the third quarter. MetLife Investment Management LLC now owns 18,422 shares of the company’s stock valued at $526,000 after acquiring an additional 1,454 shares during the last quarter.

Insider Transactions at SpringWorks Therapeutics

In other news, Director Julie Hambleton sold 1,106 shares of the firm’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $31.50, for a total value of $34,839.00. Following the completion of the transaction, the director now directly owns 4,818 shares of the company’s stock, valued at $151,767. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.43% of the company’s stock.

SpringWorks Therapeutics Price Performance

NASDAQ:SWTX opened at $30.49 on Friday. SpringWorks Therapeutics, Inc. has a 1 year low of $13.60 and a 1 year high of $39.78. The business has a fifty day simple moving average of $25.98 and a two-hundred day simple moving average of $26.64. 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 (NASDAQ:SWTX – Get Rating) last posted its quarterly earnings results on Wednesday, May 3rd. The company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.08). During the same period in the previous year, the company earned ($1.26) earnings per share. As a group, analysts anticipate that SpringWorks Therapeutics, Inc. will post -5.13 earnings per share for the current year.

Wall Street Analyst Weigh In

SWTX has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target on SpringWorks Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, January 26th. JPMorgan Chase & Co. raised their target price on SpringWorks Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 7th. Barclays decreased their target price on SpringWorks Therapeutics from $55.00 to $41.00 in a research report on Friday, April 28th. Finally, HC Wainwright reissued a “buy” rating and issued a $105.00 target price on shares of SpringWorks Therapeutics in a research report on Thursday, April 20th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, SpringWorks Therapeutics currently has an average rating of “Buy” and a consensus price target of $56.33.

About SpringWorks Therapeutics

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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.