Pictet Asset Management Holding SA Has $86.40 Million Stock Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

Pictet Asset Management Holding SA increased its holdings in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 24.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,391,412 shares of the company’s stock after purchasing an additional 465,494 shares during the period. Pictet Asset Management Holding SA’s holdings in SpringWorks Therapeutics were worth $86,402,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. AlphaQuest LLC lifted its holdings in shares of SpringWorks Therapeutics by 70.2% in the fourth quarter. AlphaQuest LLC now owns 1,004 shares of the company’s stock worth $36,000 after acquiring an additional 414 shares during the last quarter. Venturi Wealth Management LLC bought a new position in SpringWorks Therapeutics in the 4th quarter valued at approximately $45,000. KBC Group NV boosted its position in SpringWorks Therapeutics by 59.1% in the fourth quarter. KBC Group NV now owns 2,634 shares of the company’s stock valued at $95,000 after buying an additional 978 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of SpringWorks Therapeutics during the third quarter worth $147,000. Finally, US Bancorp DE increased its holdings in shares of SpringWorks Therapeutics by 56.0% during the fourth quarter. US Bancorp DE now owns 4,336 shares of the company’s stock worth $157,000 after buying an additional 1,556 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SWTX shares. Guggenheim cut their price objective on SpringWorks Therapeutics from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Evercore ISI boosted their price target on SpringWorks Therapeutics from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Wedbush reaffirmed an “outperform” rating and issued a $81.00 price objective on shares of SpringWorks Therapeutics in a research note on Thursday, February 20th. Finally, HC Wainwright reiterated a “buy” rating and set a $74.00 target price on shares of SpringWorks Therapeutics in a research report on Friday, February 21st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SpringWorks Therapeutics presently has an average rating of “Buy” and a consensus price target of $73.20.

Insider Buying and Selling at SpringWorks Therapeutics

In other SpringWorks Therapeutics news, insider Bhavesh Ashar sold 1,016 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 62,053 shares of the company’s stock, valued at approximately $3,797,023.07. The trade was a 1.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Badreddin Edris sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $53.13, for a total transaction of $1,593,900.00. Following the sale, the chief operating officer now directly owns 189,712 shares of the company’s stock, valued at approximately $10,079,398.56. This trade represents a 13.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 440,766 shares of company stock valued at $24,402,956. 7.61% of the stock is currently owned by insiders.

SpringWorks Therapeutics Price Performance

SpringWorks Therapeutics stock opened at $47.41 on Friday. The stock’s 50 day moving average is $47.98 and its 200 day moving average is $39.75. SpringWorks Therapeutics, Inc. has a one year low of $28.21 and a one year high of $62.00. The firm has a market cap of $3.55 billion, a P/E ratio of -13.62 and a beta of 0.76.

SpringWorks Therapeutics (NASDAQ:SWTX) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.38). SpringWorks Therapeutics had a negative net margin of 134.73% and a negative return on equity of 46.74%. The firm had revenue of $61.55 million during the quarter, compared to the consensus estimate of $60.53 million. Equities analysts anticipate 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.