Assetmark Inc. Increases Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Assetmark Inc. raised its position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 13.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 46,020 shares of the company’s stock after buying an additional 5,546 shares during the period. Assetmark Inc.’s holdings in SpringWorks Therapeutics were worth $1,474,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of SWTX. First Horizon Advisors Inc. boosted its position in SpringWorks Therapeutics by 47.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock valued at $45,000 after buying an additional 383 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in SpringWorks Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after purchasing an additional 474 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in SpringWorks Therapeutics during the 2nd quarter worth $123,000. CANADA LIFE ASSURANCE Co increased its holdings in SpringWorks Therapeutics by 20.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock worth $220,000 after purchasing an additional 754 shares during the period. Finally, SG Americas Securities LLC raised its position in SpringWorks Therapeutics by 8.3% in the 1st quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock valued at $230,000 after purchasing an additional 358 shares in the last quarter.

SpringWorks Therapeutics Trading Up 5.3 %

SWTX stock opened at $36.55 on Friday. The stock has a market cap of $2.71 billion, a P/E ratio of -8.95 and a beta of 0.79. SpringWorks Therapeutics, Inc. has a twelve month low of $19.61 and a twelve month high of $53.92. The company’s 50 day moving average is $32.82 and its two-hundred day moving average is $37.21.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.04. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 47.16%. The firm had revenue of $49.10 million for the quarter, compared to the consensus estimate of $53.28 million. During the same period last year, the firm posted ($1.27) EPS. The company’s revenue was up 4810.0% on a year-over-year basis. On average, equities research analysts predict that SpringWorks Therapeutics, Inc. will post -3.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wedbush restated an “outperform” rating and set a $77.00 target price on shares of SpringWorks Therapeutics in a research note on Thursday, November 7th. HC Wainwright dropped their price objective on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, SpringWorks Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $68.17.

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.