China Universal Asset Management Co. Ltd. Purchases 1,488 Shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

China Universal Asset Management Co. Ltd. lifted its position in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 10.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 15,773 shares of the company’s stock after acquiring an additional 1,488 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in SpringWorks Therapeutics were worth $570,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its position in SpringWorks Therapeutics by 0.3% during the third quarter. FMR LLC now owns 11,140,946 shares of the company’s stock worth $356,956,000 after purchasing an additional 28,555 shares during the period. Maverick Capital Ltd. grew its stake in SpringWorks Therapeutics by 6.8% in the 3rd quarter. Maverick Capital Ltd. now owns 2,778,348 shares of the company’s stock valued at $89,018,000 after buying an additional 177,824 shares in the last quarter. Geode Capital Management LLC raised its holdings in SpringWorks Therapeutics by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,670,247 shares of the company’s stock valued at $53,526,000 after acquiring an additional 109,189 shares during the period. Principal Financial Group Inc. lifted its position in shares of SpringWorks Therapeutics by 102.5% during the third quarter. Principal Financial Group Inc. now owns 918,445 shares of the company’s stock worth $29,427,000 after acquiring an additional 464,903 shares in the last quarter. Finally, Finepoint Capital LP boosted its holdings in shares of SpringWorks Therapeutics by 2.0% in the third quarter. Finepoint Capital LP now owns 650,852 shares of the company’s stock worth $20,853,000 after acquiring an additional 12,500 shares during the period.

Insider Activity

In other SpringWorks Therapeutics 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 value of $839,400.00. Following the completion of the sale, the chief operating officer now owns 209,600 shares of the company’s stock, valued at $8,796,912. This represents a 8.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.61% of the company’s stock.

Analysts Set New Price Targets

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

SpringWorks Therapeutics Price Performance

Shares of SpringWorks Therapeutics stock opened at $37.50 on Monday. SpringWorks Therapeutics, Inc. has a 1 year low of $28.21 and a 1 year high of $53.92. The firm has a market cap of $2.79 billion, a PE ratio of -9.66 and a beta of 0.82. The company has a 50 day simple moving average of $38.08 and a two-hundred day simple moving average of $36.11.

SpringWorks Therapeutics (NASDAQ:SWTX) last announced its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share (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 company had revenue of $49.10 million during the quarter, compared to analyst estimates of $53.28 million. During the same period in the previous year, the business earned ($1.27) earnings per share. The firm’s quarterly revenue was up 4810.0% compared to the same quarter last year. As a group, research analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.11 earnings per share for the current year.

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.