FNY Investment Advisers LLC Buys New Shares in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

FNY Investment Advisers LLC bought a new stake in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) during the 1st quarter, HoldingsChannel.com reports. The fund bought 10,575 shares of the company’s stock, valued at approximately $466,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SWTX. Huntington National Bank boosted its position in SpringWorks Therapeutics by 38.2% during the 4th quarter. Huntington National Bank now owns 694 shares of the company’s stock valued at $25,000 after buying an additional 192 shares during the period. AlphaQuest LLC boosted its position in SpringWorks Therapeutics by 70.2% during the 4th quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock valued at $36,000 after buying an additional 414 shares during the period. State of Wyoming boosted its position in SpringWorks Therapeutics by 39.5% during the 4th quarter. State of Wyoming now owns 1,530 shares of the company’s stock valued at $55,000 after buying an additional 433 shares during the period. Barclays PLC boosted its position in SpringWorks Therapeutics by 0.3% during the 4th quarter. Barclays PLC now owns 156,123 shares of the company’s stock valued at $5,641,000 after buying an additional 447 shares during the period. Finally, Virtus ETF Advisers LLC boosted its position in SpringWorks Therapeutics by 7.4% during the 4th quarter. Virtus ETF Advisers LLC now owns 9,037 shares of the company’s stock valued at $327,000 after buying an additional 622 shares during the period.

Analyst Upgrades and Downgrades

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

SpringWorks Therapeutics Trading Up 0.0%

NASDAQ:SWTX opened at $46.78 on Monday. The company has a 50-day moving average price of $44.06 and a 200-day moving average price of $43.83. SpringWorks Therapeutics, Inc. has a 12 month low of $28.21 and a 12 month high of $62.00. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of -13.44 and a beta of 0.70.

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