Maverick Capital Ltd. Grows Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Maverick Capital Ltd. raised its position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 6.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,778,348 shares of the company’s stock after buying an additional 177,824 shares during the quarter. SpringWorks Therapeutics makes up approximately 1.7% of Maverick Capital Ltd.’s portfolio, making the stock its 21st biggest position. Maverick Capital Ltd. owned approximately 3.74% of SpringWorks Therapeutics worth $89,018,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. First Horizon Advisors Inc. raised its position in SpringWorks Therapeutics by 47.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock valued at $45,000 after purchasing an additional 383 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of SpringWorks Therapeutics by 21.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,686 shares of the company’s stock valued at $87,000 after buying an additional 474 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of SpringWorks Therapeutics in the second quarter valued at about $123,000. Quantbot Technologies LP purchased a new position in shares of SpringWorks Therapeutics during the third quarter worth about $147,000. Finally, Quarry LP grew its holdings in shares of SpringWorks Therapeutics by 56.3% during the second quarter. Quarry LP now owns 5,000 shares of the company’s stock worth $188,000 after buying an additional 1,800 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SWTX shares. 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. upped their price objective on shares of SpringWorks Therapeutics from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Evercore ISI started coverage on shares of SpringWorks Therapeutics in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $60.00 target price for the company. Finally, HC Wainwright dropped their price target 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. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SpringWorks Therapeutics has an average rating of “Buy” and an average target price of $69.50.

SpringWorks Therapeutics Stock Down 0.6 %

NASDAQ:SWTX opened at $41.48 on Friday. The firm’s fifty day simple moving average is $33.19 and its 200-day simple moving average is $36.79. The stock has a market cap of $3.09 billion, a PE ratio of -10.69 and a beta of 0.79. SpringWorks Therapeutics, Inc. has a fifty-two week low of $28.00 and a fifty-two week high of $53.92.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $53.28 million. During the same period last year, the company posted ($1.27) earnings per share. The firm’s quarterly revenue was up 4810.0% compared to the same quarter last year. Equities analysts anticipate that SpringWorks Therapeutics, Inc. will post -3.12 earnings per share for the current year.

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.