Bank of America Corp DE raised its holdings in shares of SpringWorks Therapeutics, Inc. (NASDAQ:SWTX – Get Rating) by 7.5% during the 1st quarter, Holdings Channel reports. The fund owned 1,627,487 shares of the company's stock after purchasing an additional 113,114 shares during the period. Bank of America Corp DE's holdings in SpringWorks Therapeutics were worth $91,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its stake in SpringWorks Therapeutics by 34.7% during the 1st quarter. Parallel Advisors LLC now owns 1,028 shares of the company's stock valued at $61,000 after acquiring an additional 265 shares in the last quarter. Advisor Group Holdings Inc. raised its stake in SpringWorks Therapeutics by 93.7% during the 4th quarter. Advisor Group Holdings Inc. now owns 1,540 shares of the company's stock valued at $95,000 after acquiring an additional 745 shares in the last quarter. Point72 Hong Kong Ltd raised its stake in SpringWorks Therapeutics by 201.0% during the 4th quarter. Point72 Hong Kong Ltd now owns 1,571 shares of the company's stock valued at $97,000 after acquiring an additional 1,049 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of SpringWorks Therapeutics by 8.1% in the 1st quarter. Teacher Retirement System of Texas now owns 4,099 shares of the company's stock worth $231,000 after buying an additional 307 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. bought a new stake in shares of SpringWorks Therapeutics in the 4th quarter worth $250,000.

Insider Buying and Selling

In related news, major shareholder Orbimed Advisors Llc sold 153,897 shares of SpringWorks Therapeutics stock in a transaction on Monday, September 12th. The stock was sold at an average price of $31.96, for a total value of $4,918,548.12. Following the transaction, the insider now directly owns 5,599,842 shares in the company, valued at approximately $178,970,950.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 28.95% of the company's stock.

SpringWorks Therapeutics Stock Down 4.4 %

SpringWorks Therapeutics (NASDAQ:SWTX – Get Rating) last issued its earnings results on Thursday, August 4th. The company reported ($1.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.26) by ($0.15). SpringWorks Therapeutics's revenue was up .0% compared to the same quarter last year. During the same period last year, the business posted ($0.97) earnings per share. As a group, analysts anticipate that SpringWorks Therapeutics, Inc. will post -5.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SWTX. HC Wainwright boosted their price objective on SpringWorks Therapeutics from $94.00 to $103.00 and gave the stock a "buy" rating in a research note on Monday, September 12th. Wedbush set a $53.00 price objective on SpringWorks Therapeutics in a research note on Monday, June 20th.

SpringWorks Therapeutics Company Profile

(Get Rating)

SpringWorks Therapeutics, Inc acquires, develops, and commercializes medicines for underserved patient populations suffering from rare diseases and cancer. Its lead product candidate is nirogacestat, an oral small molecule gamma secretase inhibitor that is in Phase III clinical trial for the treatment of desmoid tumors.

Further Reading

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