Velan Capital Investment Management LP Invests $6.70 Million in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Velan Capital Investment Management LP bought a new position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 185,520 shares of the company’s stock, valued at approximately $6,703,000. SpringWorks Therapeutics makes up about 5.8% of Velan Capital Investment Management LP’s investment portfolio, making the stock its 6th biggest position.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Barclays PLC grew its position in SpringWorks Therapeutics by 60.4% in the third quarter. Barclays PLC now owns 155,676 shares of the company’s stock worth $4,987,000 after buying an additional 58,645 shares during the last quarter. Park Avenue Securities LLC acquired a new position in shares of SpringWorks Therapeutics in the 4th quarter worth $203,000. AMI Asset Management Corp acquired a new stake in shares of SpringWorks Therapeutics during the fourth quarter worth $1,438,000. SG Americas Securities LLC purchased a new stake in shares of SpringWorks Therapeutics during the fourth quarter valued at $210,000. Finally, KBC Group NV increased its stake in SpringWorks Therapeutics by 59.1% in the 4th quarter. KBC Group NV now owns 2,634 shares of the company’s stock worth $95,000 after purchasing an additional 978 shares in the last quarter.

Insider Buying and Selling

In other SpringWorks Therapeutics news, CEO Saqib Islam sold 29,328 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $60.30, for a total transaction of $1,768,478.40. Following the completion of the sale, the chief executive officer now owns 1,034,625 shares in the company, valued at approximately $62,387,887.50. The trade was a 2.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bhavesh Ashar sold 1,016 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $61.19, for a total value of $62,169.04. Following the completion of the transaction, the insider now owns 62,053 shares in the company, valued at $3,797,023.07. This represents a 1.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 146,944 shares of company stock worth $8,439,479 over the last three months. 7.83% of the stock is currently owned by company insiders.

SpringWorks Therapeutics Trading Up 0.1%

NASDAQ:SWTX opened at $46.11 on Monday. The stock has a market capitalization of $3.47 billion, a P/E ratio of -13.25 and a beta of 0.77. SpringWorks Therapeutics, Inc. has a 1 year low of $28.21 and a 1 year high of $62.00. The firm has a 50 day moving average of $43.95 and a 200-day moving average of $42.32.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings data on Friday, May 9th. The company reported ($1.11) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($0.30). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The company had revenue of $49.09 million during the quarter, compared to analyst estimates of $64.19 million. As a group, analysts forecast that SpringWorks Therapeutics, Inc. will post -2.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on SWTX shares. Guggenheim reaffirmed a “neutral” rating and issued a $47.00 price objective on shares of SpringWorks Therapeutics in a research note on Monday, May 12th. HC Wainwright reiterated a “neutral” rating and set a $47.00 price target (down previously from $74.00) on shares of SpringWorks Therapeutics in a report on Wednesday, April 30th. Cowen downgraded SpringWorks Therapeutics to a “hold” rating in a research note on Tuesday, April 29th. Evercore ISI cut SpringWorks Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 28th. Finally, Barclays reiterated an “equal weight” rating and issued a $47.00 target price (down previously from $63.00) on shares of SpringWorks Therapeutics in a report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, SpringWorks Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $52.57.

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.