AMI Asset Management Corp Takes $1.44 Million Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

AMI Asset Management Corp acquired a new position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 39,791 shares of the company’s stock, valued at approximately $1,438,000.

A number of other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its stake in shares of SpringWorks Therapeutics by 0.3% in the 3rd quarter. FMR LLC now owns 11,140,946 shares of the company’s stock worth $356,956,000 after acquiring an additional 28,555 shares in the last quarter. Maverick Capital Ltd. boosted its position in shares of SpringWorks Therapeutics by 6.8% in the 3rd quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock worth $89,018,000 after purchasing an additional 177,824 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of SpringWorks Therapeutics by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company’s stock worth $53,526,000 after purchasing an additional 109,189 shares in the last quarter. Duquesne Family Office LLC purchased a new stake in shares of SpringWorks Therapeutics in the 2nd quarter worth approximately $38,475,000. Finally, Principal Financial Group Inc. increased its position in SpringWorks Therapeutics by 102.5% during the 3rd quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock valued at $29,427,000 after buying an additional 464,903 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wedbush reissued an “outperform” rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a research note on Monday, January 13th. Evercore ISI began coverage on shares of SpringWorks Therapeutics in a research note on Wednesday, November 20th. They set an “outperform” rating and a $60.00 price objective for the company. HC Wainwright dropped their target price on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, Guggenheim decreased their price objective on shares of SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $70.00.

SpringWorks Therapeutics Stock Performance

SpringWorks Therapeutics stock opened at $34.63 on Tuesday. The stock has a market cap of $2.58 billion, a PE ratio of -8.93 and a beta of 0.82. The stock has a fifty day moving average of $38.06 and a 200 day moving average of $36.32. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.03. The firm had revenue of $49.10 million for the quarter, compared to the consensus estimate of $53.28 million. SpringWorks Therapeutics had a negative net margin of 203.09% and a negative return on equity of 48.21%. The company’s revenue was up 4810.0% on a year-over-year basis. During the same period last year, the firm earned ($1.27) EPS. As a group, sell-side analysts predict that SpringWorks Therapeutics, Inc. will post -3.11 EPS for the current fiscal year.

Insider Activity at SpringWorks Therapeutics

In other news, COO Badreddin Edris sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $41.97, for a total transaction of $839,400.00. Following the sale, the chief operating officer now directly owns 209,600 shares of the company’s stock, valued at $8,796,912. This represents a 8.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.