Price T Rowe Associates Inc. MD Boosts Stock Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Price T Rowe Associates Inc. MD boosted its position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 48.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,110,462 shares of the company’s stock after purchasing an additional 1,333,892 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.06% of SpringWorks Therapeutics worth $202,318,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SWTX. Russell Investments Group Ltd. raised its position in shares of SpringWorks Therapeutics by 49.0% in the first quarter. Russell Investments Group Ltd. now owns 170,047 shares of the company’s stock valued at $8,370,000 after buying an additional 55,893 shares during the last quarter. Seven Eight Capital LP acquired a new position in SpringWorks Therapeutics in the 4th quarter valued at $1,544,000. Perceptive Advisors LLC lifted its stake in shares of SpringWorks Therapeutics by 28.7% during the 4th quarter. Perceptive Advisors LLC now owns 1,957,246 shares of the company’s stock worth $71,439,000 after purchasing an additional 436,830 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of SpringWorks Therapeutics by 310.7% during the fourth quarter. Point72 Asset Management L.P. now owns 2,162,176 shares of the company’s stock worth $78,919,000 after purchasing an additional 1,635,722 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of SpringWorks Therapeutics during the fourth quarter worth $12,331,000.

SpringWorks Therapeutics Trading Up 3.2 %

Shares of SWTX traded up $1.17 during trading hours on Friday, hitting $38.04. The stock had a trading volume of 515,590 shares, compared to its average volume of 756,807. The company’s fifty day simple moving average is $39.06 and its 200 day simple moving average is $43.55. SpringWorks Therapeutics, Inc. has a 12-month low of $18.00 and a 12-month high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.01). The firm had revenue of $21.00 million during the quarter, compared to the consensus estimate of $12.07 million. During the same quarter last year, the business posted ($1.18) EPS. SpringWorks Therapeutics’s revenue for the quarter was up 2000.0% on a year-over-year basis. On average, equities research analysts forecast that SpringWorks Therapeutics, Inc. will post -4.62 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SWTX shares. HC Wainwright reiterated a “buy” rating and issued a $74.00 target price on shares of SpringWorks Therapeutics in a research note on Friday, May 31st. Wedbush reaffirmed an “outperform” rating and set a $75.00 price objective (up previously from $70.00) on shares of SpringWorks Therapeutics in a research note on Thursday, May 2nd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $68.83.

About SpringWorks Therapeutics

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.