Ally Bridge Group NY LLC Makes New Investment in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Ally Bridge Group NY LLC purchased a new stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 227,700 shares of the company’s stock, valued at approximately $7,296,000. SpringWorks Therapeutics accounts for about 3.9% of Ally Bridge Group NY LLC’s investment portfolio, making the stock its 11th largest holding. Ally Bridge Group NY LLC owned approximately 0.31% of SpringWorks Therapeutics at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. First Horizon Advisors Inc. grew its stake 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of 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 in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in SpringWorks Therapeutics during the 2nd quarter worth about $123,000. Quantbot Technologies LP bought a new stake in shares of SpringWorks Therapeutics during the third quarter valued at about $147,000. Finally, Quarry LP boosted its position in shares of SpringWorks Therapeutics by 56.3% in the second quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $188,000 after acquiring an additional 1,800 shares during the period.

SpringWorks Therapeutics Trading Up 1.2 %

Shares of SpringWorks Therapeutics stock opened at $41.73 on Thursday. The business’s 50-day moving average price is $32.92 and its 200-day moving average price is $36.75. The firm has a market capitalization of $3.10 billion, a PE ratio of -10.76 and a beta of 0.79. SpringWorks Therapeutics, Inc. has a 12 month low of $23.00 and a 12 month high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.03. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. 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) earnings per share. The business’s revenue was up 4810.0% compared to the same quarter last year. As a group, analysts predict that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SWTX. JPMorgan Chase & Co. upped their target price on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. HC Wainwright reduced their target price on SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Wedbush reaffirmed an “outperform” rating and issued a $77.00 price target on shares of SpringWorks Therapeutics in a report on Monday, November 18th. Finally, Evercore ISI assumed coverage on SpringWorks Therapeutics in a report on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price objective for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, SpringWorks Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $67.00.

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.