Raymond James Financial Inc. Purchases Shares of 291,356 SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Raymond James Financial Inc. acquired a new position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 291,356 shares of the company’s stock, valued at approximately $10,527,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Venturi Wealth Management LLC acquired a new position in SpringWorks Therapeutics during the fourth quarter worth $45,000. KBC Group NV lifted its stake in SpringWorks Therapeutics by 59.1% during the 4th quarter. KBC Group NV now owns 2,634 shares of the company’s stock worth $95,000 after acquiring an additional 978 shares in the last quarter. Quantbot Technologies LP purchased a new position in SpringWorks Therapeutics during the 3rd quarter valued at about $147,000. US Bancorp DE grew its position in SpringWorks Therapeutics by 56.0% in the 4th quarter. US Bancorp DE now owns 4,336 shares of the company’s stock valued at $157,000 after acquiring an additional 1,556 shares in the last quarter. Finally, Quarry LP increased its stake in SpringWorks Therapeutics by 20.0% during the third quarter. Quarry LP now owns 6,000 shares of the company’s stock worth $192,000 after purchasing an additional 1,000 shares during the period.

Analysts Set New Price Targets

Several research firms have recently commented on SWTX. Guggenheim lowered their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Wedbush restated an “outperform” rating and issued a $81.00 price target on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. Evercore ISI increased their price objective on SpringWorks Therapeutics from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, HC Wainwright reissued a “buy” rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a research note on Friday, February 21st. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $73.20.

SpringWorks Therapeutics Trading Up 0.9 %

Shares of SWTX opened at $51.08 on Friday. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of -14.68 and a beta of 0.76. The firm’s fifty day simple moving average is $46.56 and its 200-day simple moving average is $39.42. SpringWorks Therapeutics, Inc. has a twelve month low of $28.21 and a twelve month high of $62.00.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative return on equity of 46.74% and a negative net margin of 134.73%. The business had revenue of $61.55 million for the quarter, compared to analysts’ expectations of $60.53 million. On average, analysts predict that SpringWorks Therapeutics, Inc. will post -2.05 earnings per share for the current fiscal year.

Insider Activity at SpringWorks Therapeutics

In related news, COO Badreddin Edris sold 20,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $54.23, for a total value of $1,084,600.00. Following the completion of the sale, the chief operating officer now directly owns 169,712 shares of the company’s stock, valued at $9,203,481.76. The trade was a 10.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel Lynch sold 175,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.46, for a total value of $9,530,500.00. Following the transaction, the director now directly owns 130,944 shares in the company, valued at approximately $7,131,210.24. The trade was a 57.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 440,766 shares of company stock valued at $24,402,956 over the last three months. 7.61% of the stock is owned by corporate insiders.

SpringWorks Therapeutics 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.