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

Velan Capital Investment Management LP bought a new stake in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 185,520 shares of the company’s stock, valued at approximately $6,703,000. SpringWorks Therapeutics accounts for approximately 5.8% of Velan Capital Investment Management LP’s portfolio, making the stock its 6th biggest holding. Velan Capital Investment Management LP owned 0.25% of SpringWorks Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Barclays PLC increased its holdings in shares of SpringWorks Therapeutics by 60.4% in the 3rd quarter. Barclays PLC now owns 155,676 shares of the company’s stock valued at $4,987,000 after purchasing an additional 58,645 shares in the last quarter. Park Avenue Securities LLC acquired a new position in SpringWorks Therapeutics during the fourth quarter worth about $203,000. AMI Asset Management Corp acquired a new position in SpringWorks Therapeutics during the fourth quarter worth about $1,438,000. SG Americas Securities LLC purchased a new position in SpringWorks Therapeutics in the fourth quarter valued at about $210,000. Finally, KBC Group NV lifted its position in shares of SpringWorks Therapeutics by 59.1% during the 4th quarter. KBC Group NV now owns 2,634 shares of the company’s stock valued at $95,000 after acquiring an additional 978 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SWTX shares. Wedbush reissued a “neutral” rating and set a $47.00 price target (down previously from $81.00) on shares of SpringWorks Therapeutics in a research note on Monday, April 28th. Evercore ISI lowered SpringWorks Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Guggenheim restated a “neutral” rating and issued a $47.00 price target on shares of SpringWorks Therapeutics in a research report on Monday, May 12th. Barclays reiterated an “equal weight” rating and issued a $47.00 price objective (down from $63.00) on shares of SpringWorks Therapeutics in a research report on Monday, April 28th. Finally, HC Wainwright restated a “neutral” rating and set a $47.00 target price (down from $74.00) on shares of SpringWorks Therapeutics in a report on Wednesday, April 30th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, SpringWorks Therapeutics has an average rating of “Hold” and an average target price of $52.57.

Insiders Place Their Bets

In other news, COO Badreddin Edris sold 20,000 shares of SpringWorks Therapeutics stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $54.23, for a total transaction of $1,084,600.00. Following the transaction, the chief operating officer now directly owns 169,712 shares in the company, valued at approximately $9,203,481.76. This trade represents a 10.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $1,768,478.40. Following the completion of the sale, the chief executive officer now owns 1,034,625 shares of the company’s stock, valued at approximately $62,387,887.50. This trade represents a 2.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,944 shares of company stock worth $8,439,479. 7.83% of the stock is owned by company insiders.

SpringWorks Therapeutics Stock Performance

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

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

SpringWorks Therapeutics Company 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.