DNB Asset Management AS Boosts Stock Position in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)

DNB Asset Management AS grew its holdings in SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) by 16.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,402 shares of the company’s stock after buying an additional 1,617 shares during the quarter. DNB Asset Management AS’s holdings in SpringWorks Therapeutics were worth $429,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of SpringWorks Therapeutics by 8.2% in the first quarter. Vanguard Group Inc. now owns 6,529,325 shares of the company’s stock worth $321,373,000 after acquiring an additional 492,783 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of SpringWorks Therapeutics by 48.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,110,462 shares of the company’s stock worth $202,318,000 after acquiring an additional 1,333,892 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in SpringWorks Therapeutics during the first quarter worth $114,083,000. Point72 Asset Management L.P. boosted its stake in SpringWorks Therapeutics by 310.7% during the fourth quarter. Point72 Asset Management L.P. now owns 2,162,176 shares of the company’s stock worth $78,919,000 after buying an additional 1,635,722 shares during the last quarter. Finally, Perceptive Advisors LLC boosted its stake in SpringWorks Therapeutics by 28.7% during the fourth quarter. Perceptive Advisors LLC now owns 1,957,246 shares of the company’s stock worth $71,439,000 after buying an additional 436,830 shares during the last quarter.

Analyst Ratings Changes

SWTX has been the topic of a number of recent research reports. Wedbush reissued an “outperform” rating and set a $75.00 price objective (up previously from $70.00) on shares of SpringWorks Therapeutics in a research note on Thursday, May 2nd. HC Wainwright reissued a “buy” rating and set a $74.00 price objective on shares of SpringWorks Therapeutics in a research note on Friday, May 31st. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, SpringWorks Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $68.83.

SpringWorks Therapeutics Stock Performance

Shares of NASDAQ SWTX traded up $2.03 during mid-day trading on Wednesday, reaching $35.25. 438,163 shares of the company’s stock were exchanged, compared to its average volume of 973,043. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of -6.46 and a beta of 0.78. SpringWorks Therapeutics, Inc. has a 52-week low of $18.00 and a 52-week high of $53.92. The company’s 50-day moving average is $37.96 and its 200-day moving average is $43.30.

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.