Quarry LP Has $192,000 Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Quarry LP raised its position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 20.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,000 shares of the company’s stock after acquiring an additional 1,000 shares during the quarter. Quarry LP’s holdings in SpringWorks Therapeutics were worth $192,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Profund Advisors LLC increased its position in SpringWorks Therapeutics by 1.3% during the second quarter. Profund Advisors LLC now owns 29,048 shares of the company’s stock worth $1,094,000 after acquiring an additional 362 shares during the period. First Horizon Advisors Inc. increased its position in SpringWorks Therapeutics by 47.9% during the second quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock worth $45,000 after acquiring an additional 383 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in SpringWorks Therapeutics by 21.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock worth $87,000 after acquiring an additional 474 shares during the period. State of New Jersey Common Pension Fund D increased its position in SpringWorks Therapeutics by 1.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 46,389 shares of the company’s stock worth $1,486,000 after acquiring an additional 871 shares during the period. Finally, E Fund Management Co. Ltd. increased its position in SpringWorks Therapeutics by 11.6% during the second quarter. E Fund Management Co. Ltd. now owns 9,467 shares of the company’s stock worth $357,000 after acquiring an additional 981 shares during the period.

SpringWorks Therapeutics Price Performance

NASDAQ:SWTX opened at $41.75 on Friday. The firm’s 50 day simple moving average is $33.96 and its 200 day simple moving average is $36.72. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $53.92. The company has a market cap of $3.11 billion, a PE ratio of -10.76 and a beta of 0.86.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its 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. The business 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 firm’s revenue was up 4810.0% compared to the same quarter last year. During the same period last year, the company earned ($1.27) EPS. Equities research analysts expect that SpringWorks Therapeutics, Inc. will post -3.12 EPS for the current year.

Insider Transactions at SpringWorks Therapeutics

In related news, COO Badreddin Edris sold 20,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $41.97, for a total transaction of $839,400.00. Following the transaction, the chief operating officer now owns 209,600 shares in the company, valued at $8,796,912. The trade was a 8.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 7.61% of the company’s stock.

Wall Street Analyst Weigh In

SWTX has been the topic of several recent analyst reports. Wedbush reissued an “outperform” rating and issued a $77.00 target price on shares of SpringWorks Therapeutics in a report on Monday, November 18th. JPMorgan Chase & Co. raised their target price on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Evercore ISI initiated coverage on shares of SpringWorks Therapeutics in a report on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 target price on the stock. Finally, HC Wainwright decreased their target price on shares of SpringWorks Therapeutics from $76.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $69.50.

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.